The demand for contract and senior freelance is surging: Nearly 50% of hiring managers plan to increase their use of freelancers in the next five years, driven by the need for specialised skills and cost-effectiveness. Professionals are increasingly choosing freelance work for career progression, flexibility, and the ability to align with their values.
But paying these independent contractors quickly, and staying compliant, espcially when leveraging talent globally, can be a hassle.
Compliance For Independent Contractors in 2025:
Enter the Contractor of Record (COR) – your strategic partner for compliant, efficient contractor management.
A COR acts as the legal intermediary between your business and contractors, handling compliance, payments, and administrative tasks. Unlike an Employer of Record (EOR) for employees, a COR specialises in managing independent contractor relationships while mitigating risks like misclassification.
Core COR Responsibilities:
- Compliance: Ensuring contracts adhere to local labor laws and tax regulations
- Payments: Managing cross-border invoicing, currency conversions, and timely payments
- Risk Mitigation: Protecting against contractor misclassification claims
- Administration: Streamlining onboarding, offboarding, and documentation
Paying Independent Contractors Globally in 2025:
Making individual, 1:1 payments, and tracking payable work, can be time consuming.
We've built an increidbly simple yet efficient way to run payroll across teams of contract workers.
We leverage a combination of Open Banking, USDC digital wallets, and a custom built management flow for businesses managing and paying flexible teams. By doing so, we empower businesses to make one-click, multi-routed payments across multiple contract workers around the world, instantly, and for free.
As remote work and gig economies expand globally, Compliance and Operations Resources (CORs) are emerging as critical tools for businesses. By 2026, 60% of companies intend to adopt COR solutions to streamline access to specialised talent and mitigate compliance challenges associated with cross-border hiring and contractor management.
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Rafiki ensures efficient and compliant global payroll for flexible teams and contractors.
If you're a business interested in Rafiki, enquire now.
If you're a leading freelancer, consultant, agency owner, and fractional specialist interested in becoming an Expert In Residence, apply now.
