Advance pay app concept  (Photo: Shutterstock)

The modern workforce is undergoing a significant transformation, with a surge in contract positions replacing traditional full-time roles. This shift has allowed companies to cut costs by not necessarily providing benefits to these contract workers, saving up to 25% on labor expenses.

However, this strategy is not without its consequences. As contract workers become a more integral part of a company’s workforce, withholding benefits could undermine long-term growth and talent attraction. To remain competitive, businesses should begin extending benefits to their independent contractors and other 1099 workers.

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