Mountain View, Calif. — March 5
Albany, a provider of global contingent workforce management services, has acquired eWork Services Inc., a specialist in contractor payrolling services and 1099 compliance.
The acquisition bolsters Albany’s plans for expansion into the U.S. market.
Albany provides employer of record services for contract workers and contingent workforce management solutions worldwide.
Albany acts as a traditional employer, hiring workers as their own W2 employees, processing payroll, providing benefits and HR support for short-term projects or assignments with contract workers.
Serving companies in more than 65 countries, Albany is an expert in international tax and labor law, including U.S. federal and state regulations.
The acquisition of eWork Services complements Albany’s international capabilities. eWork Services excels at payrolling services and 1099 compliance, an often confusing set of criteria for determining independent contractor versus W2 contract workers.
eWork Services, with more than 20 years experience in managing a contingent workforce and a proven record, provides this specialty critical to success in the U.S. market.
The acquisition and strength of Albany consolidates eWork as the premier provider in its market.
“eWork Services is a perfect fit for Albany’s long-term goals,” said Jason Posel, Albany senior vice president. “As we expand our business in the U.S., eWork Service’s established customer base and domestic expertise provides an excellent launching pad.”
The expanded company, with eWork Services now known as Albany Services Inc., will offer a full-service solution for contingent workforce management.
Albany differs from staffing companies in that it does not source the contract workers (they typically have already been sourced by the client company).
As an employer of record, Albany offers its customers the optimum benefit of using contract talent. It lets its customers leverage their own referral networks and HR departments to find talent.
Unlike staffing companies, Albany’s entire focus is to manage the administrative issues such as onboarding, employment agreements, payroll, insurance, time and expense capture, benefits and taxes, assuming responsibility and liability.
“We’re in the middle of a talent war,” Posel said. “Employees are no longer hired for life — companies don’t want that liability, so many individuals don’t want full-time employment but want control of their own destiny.
“This, and an aging workforce, is causing a shortage of highly skilled people in the U.S. and many other countries.”