Table of Content
Introduction
HR teams need to manage all types of contracts for compliance and auditing purposes. That includes finding a unified and automated way to manage freelance contracts with HRMS.
We will be reading more about an efficient way to streamline contract management and extension today. So, continue to scroll the post if you’re an HR stuck in a rut to streamline the document and contract management at once.
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5 Major Ways to Manage Freelance Contracts with HRMS
- Automated notifications on the expiry of contracts.
Receive automated notifications on the contracts in your HRMS that are to expire soon. Be on time to renew those on time or terminate and make strategic decisions on the move.
uKnowva HRMS offers the contract extension and termination add-on to integrate with your current HRM module. This will make the automated alerts on new and existing contracts seamless for you as someone who deals with freelancers for specific projects.
- A centralised database to store important documents.
HR leaders can now manage all the databases of their freelancers in one place. That happens on a modern, user-friendly HRMS like ours. Our functionality is an advanced document repository connected to the contract management module.
So, HR professionals and reporting managers never miss the important information about their freelancers anymore.
They can always go back to the original contract, review the terms, check when it was revised, and whether the freelancer accepted/acknowledged the same or not.
This makes the entire process of managing freelancer’s information seamless. Contacts are more transparent and easily accessible in a unified platform.
This saves multiple hours of follow-up with the internal and external teams when management wants to audit, review, and supervise these contracts.
It also removes any mistrust and misunderstanding because the management and HR leaders check whether the contracts are revised and acknowledged on time.
If not, they can send reminders from the HRMS software to the freelancer on time or prompt for acknowledgement.
- Real-time insights on the contracts handled so far.
As a contract manager, you need insights into what type of freelancers you’re hiring. This will define your organisational benchmarks in hiring and financing freelancers for their special projects.
The real-time insights show you how many of the freelancers you are working with, how many of them you hired in the past, how much money you are deploying to these workers, etc.
A strategic talent manager needs to review these insights to straighten up the manpower planning goals for the year or the quarter. Also, such insights help you not to waste too much on the freelancers who are not doing their work as expected.
Also, you will know which of these freelancers you can convert into a full-time later on. This saves you enough time that originally goes into hunting for the right talent at the crucial hours of company growth.
- Send termination letters automatically.
Manage freelance contracts easily on our HRMS, as it allows you to send the termination letters at once. You might be working with multiple freelancers at the same time.
The policy of the company might change later. You might have to let go of these freelancers or gig workers for some time due to the financial or economic crisis. The reasons could be endless.
Whatever the case, you need a systematic way to send termination letters and notices. This helps avoid confusion, mistrust, or misunderstandings. The freelancers also get enough time to process their current contracts and set their budgets.
When you send termination letters automatically, it’s easier and faster for you to get onto the next strategy of improving the current hiring measures and metrics.
- Interactive communication channels.
You can interact with your freelancers on the intranet while managing deliverables and contracts on the HRMS. So, it reduces your dependency on heavy paper or email trails. Get the work and expectations sorted on the intranet itself, which is embedded in the HRMS.
Complete projects fast and before the deadline by speeding up the internal communication with your current freelancers. Resolve their queries and questions so that no one's ever stuck in the loop of follow-ups and waiting for the other party to give the go-ahead.
Receive instant notifications on the intranet as soon as the person you hire tags you for streamlining the process.
Conclusion
This blog gave you a detailed structure and learning material on how you manage freelance contracts with an HRMS. Our tool is intelligent, automated, driven by AI and anywhere accessible features.
With our HRMS, you can ease your interactions with your freelancers or gig workers. Pay them on time, approve their requests, extend, renew, or terminate contracts with reasons to deliver fair experiences at all times.
FAQs on Managing Freelance Contracts with HRMS
- Why should we use HRMS for managing freelance contracts?
HRMS offers a centralised platform to handle freelance contracts efficiently, ensuring compliance, ease of access, and effective communication between HR personnel and freelancers.
- What features should we look for in an HRMS for freelance contract management?
Key features include contract creation and management, freelancer onboarding and offboarding, time tracking, payment processing, compliance management, and document storage.
- How does HRMS simplify freelance contract management?
HRMS automates repetitive tasks such as contract generation, facilitates easy communication with freelancers, ensures compliance with labour regulations, and provides comprehensive analytics for better decision-making.
