Albany acquires eWork Services

Albany Acquires eWork Services to Expand U.S. Contingent Workforce Management Services

MOUNTAIN VIEW, CA— March 1st, 2007—Albany, a leader in contingent workforce management services, announced the acquisition of eWork Services, Inc., a specialist in contractor payrolling services and 1099 compliance. 

Albany provides Employer of Record services for contract workers and contingent workforce management solution worldwide. Albany acts as a traditional employer—hiring the workers as their own W2 employees, processing payroll, providing benefits and HR support—for short-term projects or assignments with contract workers.

The acquisition of eWork Services complements Albany’s 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 over 20 years experience in managing a contingent workforce and a proven track 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.

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 – and so Albany charges a fraction of staffing company fees.

As an Employer of Record, Albany offers their customers the optimum benefit of using contract talent. They let their 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 & expense capture, benefits, and taxes, assuming responsibility and liability.

“We’re in the middle of a talent war. Employees are no longer hired for life—companies don’t want that liability,” Posel said. “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.”

Clearly, employer’s benefit from the growing use of contractors. They can hire workers for a specific project or time frame, yet don’t have to keep them on their payroll or incur increased insurance, workers compensation and liability insurance.