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Employee and Independent Contractor Documentation Every Business Needs

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Employee and Independent Contractor Documentation Every Business Needs

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Hardworking businesswoman concentrating on her work as she sits paging through a binder of paperwork at her desk in the officeDisagreements with employees, clients, and independent contractors can create risks for your small business. By having certain employee and contractor documents in place, you can help safeguard your company.

Here's a quick look at some of those key documents:

  • Employment records: Organize your employee records (e.g. applications, performance reviews, W-2s, non-compete agreements) and keep them in a central location. Plus, confirm the records for each employee are complete and up-to-date.
  • Privacy policy: Your privacy policy should spell out expectations in both directions, providing assurances that you'll protect your employees' privacy while also setting standards for employees' use of company phones, computers, email, the internet, etc. This document can also help prevent information security breaches.
  • Information security policy: Create a written policy that details how your company will maintain and protect employee, client and vendor data. I'm based in Massachusetts, which provides a checklist "to aid in the development of a written information security program for a small business or individual that handles 'personal information.'" (It's known as the Comprehensive Written Information Security Program, or WISP.) Your state may offer similar guidance.

But Wait, There's More
Creating these documents is the first step. The second step is to implement the policies and to make sure they're being followed correctly on an ongoing basis. An outsourced bookkeeping services company can verify you have the employee and independent contractor records you need to stay compliant and help protect your business.

More information:

John Gleason

Author:

John Gleason

John Gleason is Managing Director of Supporting Strategies | North Shore, MetroWest, Central & Western MA. John’s team helps Massachusetts businesses pursue success by providing professional bookkeeping and controller services.

Legal and Tax Disclaimer

This website is created by Supporting Strategies to provide general bookkeeping and accounting information only. Supporting Strategies does not provide tax, legal or accounting advice, and the information contained herein is not intended to do so. As such, the information provided should not be used as a substitute for consultation with professional tax, legal, and accounting advisors, and you should consult with a tax, legal and accounting professional before engaging in any transaction.