Retirement savings plans could see a significant upgrade if this pending legislation becomes law before the end of the year, giving small businesses more ability to offer plans and opening up opportunities to gig workers.

"Personalized health care benefits that allow the employee to make their own choice of plan based on a set budget are a win-win for small to midsize organizations and their employees," Victoria Glickman Hodgkins, the PeopleKeep CEO, says.

Since the DOL proposed a new independent contractor rule in October, one of the most critical considerations before hiring a new member of the staff is classifying them correctly, however, there are other important factors.