Airswift, the global workforce solutions provider for the energy, process and infrastructure sectors, has formed a strategic alliance with Professional Contractor Solutions Incorporated (PCSI). PCSI is a professional solutions provider whose unique model significantly reduces the risk of contractors being deemed “dependent” on the organisation with whom they are engaged. In turn, this distances the company from severance, potential tax and legal obligations that would otherwise be associated with those contractors.
Over the last decade, the Canadian courts have created an increased severance liability for companies that use independent contractors by considering many of these resources to be “dependent” contractors. As a result, these contractors could be entitled to many of the same benefits owed to full-time employees, including severance upon termination of contract, legal fees associated with the process and potential legacy tax obligations. In response, Airswift and PCSI have aligned to provide a unique solution to Canadian companies, enabling them to work with independent contractors and avoid dependent contractor classification issues.
“Past court cases have shown that traditional approaches are no longer viable safeguards against the rapidly escalating financial exposure relating to employment issues,” said Kerrianne MacMullin, sales director Canada at Airswift. “By working with PCSI we are able to offer the only true risk mitigation strategy for Canadian companies engaging with independent contractors.”
VP Operations at PCSI, Tracy Clark added: “The PCSI model was vetted over an 18-month period and ultimately confirmed by tax and legal experts as being compliant with the latest tax rules to significantly reduce financial risks. By aligning with Airswift we are now able to leverage its comprehensive network and more efficiently offer our unique risk mitigating solution to the broader Canadian population.”
Adapted from a press release by David Bizley
Read the article online at: https://www.oilfieldtechnology.com/drilling-and-production/13092016/airswift-and-pcsi-collaborate-to-mitigate-financial-risks-of-canadian-dependent-contractor-issues/