Influx of Retirees Returning to the Workplace Creates Unique Set of Human Resource Challenges for Employers

FlexCorp Systems Helps Companies Leverage and Administer Contingent Workers, Like Retirees, Without Risk-

New York City, NY (PRWEB) January 12 2004--A 2003 survey conducted by SHRM (Society for Human Resource Management) revealed that a large number of organizations (68%) state that they employ older workers who have retired. The top reasons respondents indicated for hiring older workers included their willingness to work a flexible schedule or fulfill on-demand needs; older workers serving as mentors for workers with less experience; and older workers having invaluable career experience. Similar studies underscore the trend of retirees remaining in the workplace, stating that older people are hardier and more productive than previous generations, with declining disability rates and longer life expectancies.

Retirement often means indispensable knowledge leaves the organization. In most cases, hiring new workers cannot replace that knowledge, as certain skills are only gained through years of experience and specialized training.

FlexCorp Systems helps employers retain the wisdom their retirees bring to the workplace, while mitigating the risks associated with non-traditional workers. The Companys payrolling, benefits, human resources, and vendor management services also enables companies to manage all of their contingent workers, including independent contractors, consultants, project workers, in addition to retirees.

Irene Cohen, founder and CEO of FlexCorp Systems, says, An increasingly diverse range of workers and the rise in the direct sourcing of candidates via the Internet, are forcing the redefinition of the workforce. Creating an environment that balances the flexibility retirees desire while enabling employers to track this workforce and leverage their know-how is important."

Cohen continues, Many companies dont have the strategies in place to fully utilize retirees on a project basis. Some companies have made the mistake of thinking that current economic conditions make it easy to find people to hire, so the retiree population isnt at the forefront of their minds. Smart companies understand how they gain a competitive edge by augmenting their core workforce with immediately productive retirees."

Cohen says, The Internet, as well as a companys own retiree database, makes it easier to identify and attract these workers. However, as with all contingent workers, its critical that employers rely on a specialized vendor such as FlexCorp Systems."

There are a myriad of IRS and Department of Labor (DOL) regulations, which could have an impact on both the company and the retirees pension and welfare plans that make it too risky for employers to administer these workers directly. And, although companies can turn to a temporary staffing firm to pay and manage their contingent workers, such a plan of action is extremely costly. FlexCorp Systems has a comprehensive benefits program and uses a cost-plus fixed-fee pricing model instead of the expensive traditional temporary agency-pricing model, which involves a mark-up based on a percentage of wages.

Cohen shares, Theres no logical reason why any company would want to pay a fixed mark-up pricing fee based on wages for payrolling services that are truly transaction-based. It costs the same amount of money to cut a check and manage the administration of these arrangements regardless of what a project worker is paid."

Employers seeking more information about FlexCorp Systems services should call Rick Miners, FlexCorp Systems at (646) 495-5600.

More About FlexCorp Systems

Headquartered in New York City, FlexCorp Systems' human resource business process outsourcing services and support help organizations leverage the flexible workforces needed to respond to today's fluctuating business cycles. The Company delivers payroll, benefits, and human resource administration services that help mitigate risk and reduce the costs associated with the use of contingent workers such as project workers, independent contractors, consultants, and retirees.

A woman owned Company, FlexCorp Systems was founded in 2000 by human resource outsourcing pioneer Irene Cohen. For more information about FlexCorp Systems, please visit www.flexcorpsys.com or call (646) 495-5600.

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