Glossary

Welcome to YunoJuno's Glossary of Terms, your go-to resource for understanding key concepts in managing contingent workers and freelancers. Whether you're looking to enhance your knowledge or optimise your processes, this glossary provides clear, concise definitions and insights tailored for professionals committed to mastering complexities of the freelance and contractor workforce.

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Agent of Record (AoR)

Explore the concept of an Agent of Record, its importance, and how YunoJuno leverages this role to offer unparalleled services to businesses worldwide.

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Automated contracts

Delve into what automated contracts are, their benefits, and how platforms like YunoJuno leverage this technology to streamline the hiring and management of freelancers and contractors.

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Background check automation

Background check automation utilises technology to streamline and enhance the efficiency, accuracy, and speed of background verification processes for employment and screening purposes.

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Brexit impact on freelancing

Explore the profound impact of Brexit on freelancers in the UK, highlighting the challenges and opportunities that have emerged in the evolving landscape.

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Contingent labour health check

Discover the concept of a Contingent Labour Health Check, its importance, and how YunoJuno can facilitate this process for companies worldwide.

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Contingent workforce

Explore the concept of a contingent workforce, its significance, and how platforms like YunoJuno are revolutionising the way organisations manage their contingent labour.

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Contract lifecycle management

Explore the intricacies of CLM, its importance, and how platforms like YunoJuno can streamline the process.

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Contract management & compliance

Discover what contractor compliance software is, its importance, and how YunoJuno's functionalities can help streamline contractor management while ensuring full compliance.

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Contractor management

Contractor management is the strategic oversight of external professionals, ensuring effective sourcing, compliance, performance monitoring, and payment processes to optimise workforce flexibility and efficiency.

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Contractor risk assessment

Contractor risk assessment is vital for managing the risks of engaging independent contractors, ensuring compliance, and safeguarding organisations from potential legal and financial issues.

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Cross-border hiring

Cross-border hiring involves employing workers from different countries, enabling businesses to access global talent, reduce costs, and enhance diversity while navigating legal and cultural complexities.

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Day rates

Day rates are fixed daily charges by freelancers and contractors, essential for project budgeting and financial negotiations in various industries.

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Direct sourcing

Direct sourcing is a strategic talent acquisition method that allows organisations to engage directly with contingent workers, streamlining hiring processes and enhancing workforce management.

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Employer of Record (EoR)

An Employer of Record (EoR) is a third-party entity that manages the legal and administrative responsibilities of employing workers for companies, facilitating global hiring without the need for local entities.

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Engagement triage service

An engagement triage service is essential for managing and prioritising projects within an organisation, ensuring effective risk assessment and resource allocation.

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Enterprise freelancer management

Enterprise freelancer management is the strategic process of sourcing, onboarding, and managing freelance talent within large organisations, essential for navigating the evolving workforce landscape.

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External workforce management

External workforce management is the strategic oversight of non-traditional workers, optimising their sourcing, onboarding, and performance to enhance organisational efficiency and agility.

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Fair Price Guarantee

A Fair Price Guarantee ensures customers receive competitive pricing by promising to match or beat competitors' prices, fostering trust and loyalty in today's marketplace.

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Flexible payroll options

Flexible payroll options provide diverse payment methods and schedules, enhancing adaptability for employees and employers in the evolving workforce landscape.

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Freelancer Management System (FMS)

A Freelancer Management System (FMS) is a vital software solution that streamlines the management of freelance workers, enhancing efficiency in sourcing, onboarding, and payment processes within organisations.

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Freelancer onboarding guide

Explore the essential elements of freelancer onboarding, best practices, and how YunoJuno can help streamline the process for companies worldwide.

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Freelancer performance metrics

Freelancer performance metrics are essential quantifiable measures that evaluate the effectiveness and quality of independent contractors' work, aiding businesses in optimising project outcomes and enhancing client satisfaction.

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Freelancer portfolio management

Explore the essentials of freelancer portfolio management, a vital strategy for showcasing skills and attracting clients in the competitive gig economy.

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Freelancer rates benchmarking

Freelancer rates benchmarking is vital for freelancers and businesses, enabling fair pricing and effective budgeting by comparing freelance rates across industries, skill levels, and locations.

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GDPR Compliance for Freelancers

GDPR compliance for freelancers involves essential practices to protect personal data and adhere to regulations, ensuring legal safety and client trust in a digital landscape.

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Gig economy trends

A concise overview of the gig economy, highlighting its characteristics, current trends, and the impact of technology on the evolving labour market.

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Global contingent workforce management

Global contingent workforce management is the strategic oversight of temporary, contract, and freelance workers across borders, optimising their value while ensuring compliance with local regulations.

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Global worker classification

Managing a diverse and geographically dispersed team comes with its own set of challenges, particularly in terms of compliance and classification. This is where global worker classification becomes essential.

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HMRC (His Majesty's Revenue and Customs)

His Majesty's Revenue and Customs (HMRC) is the UK government department responsible for tax collection, benefit administration, and regulatory compliance, playing a vital role in the nation's financial framework.

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HR compliance

HR compliance ensures adherence to laws and regulations in human resources management, promoting legal, ethical practices and a positive workplace culture.

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Hybrid workforce solutions

Hybrid workforce solutions strategically combine full-time employees, contractors, freelancers, and remote workers to create a flexible and adaptable workforce, optimising costs and enhancing organisational agility.

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IP Protection

Intellectual Property (IP) Protection is vital for safeguarding innovations and creative works in today's digital economy, ensuring that businesses can effectively manage their intangible assets across borders.

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IR35 compliance

IR35 compliance is vital for UK contractors and businesses, ensuring fair tax treatment and avoiding legal risks associated with contractor engagements.

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Independent contractor (IC) onboarding

Independent contractor onboarding is essential for integrating freelancers into a business, ensuring compliance, productivity, and a positive working relationship.

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Independent contractor licenses

Independent contractor licenses are essential legal authorisations that enable self-employed individuals to operate in specific industries, ensuring compliance and demonstrating qualifications.

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Integrated global compliance checks

Explore the significance of integrated global compliance checks in navigating international regulations and ensuring operational adherence across diverse jurisdictions.

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Invoicing and payment processing

An overview of invoicing and payment processing, highlighting their importance in financial management and best practices for businesses.

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Limited company contractors

Limited company contractors are self-employed professionals operating through a limited company, offering flexibility, tax efficiency, and legal protection in various industries.

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Managed Service Provider (MSP)

A Managed Service Provider (MSP) is a third-party company that remotely manages IT infrastructure and end-user systems, offering proactive support and a range of services to enhance business efficiency and security.

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Misclassification risk

Misclassification risk refers to the potential legal and financial repercussions for businesses that incorrectly classify workers as independent contractors instead of employees, particularly in the evolving gig economy.

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National Insurance Contributions (NICs)

Explore the essential role of National Insurance Contributions in the UK's social security system, including their types, rates, and impact on employees and employers.

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Off-payroll rules

Off-payroll rules, or IR35, are UK tax regulations ensuring contractors working like employees pay similar tax and National Insurance contributions, impacting businesses and the labour market significantly.

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PAYE (Pay As You Earn)

Delve into the intricacies of the PAYE system, and its significance in the workforce landscape.

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Preferred Supplier List (PSL)

A Preferred Supplier List (PSL) is a strategic tool that streamlines procurement by maintaining a roster of pre-approved vendors, ensuring quality, reliability, and cost efficiency in sourcing goods and services.

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Procurement

Procurement is the strategic process of sourcing and acquiring goods, services, or works from external suppliers to enhance organisational efficiency and competitiveness.

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Project brief creation

A project brief is a vital document in project management that outlines key elements, objectives, and expectations to ensure successful project execution.

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Project-based hiring

Project-based hiring is a flexible workforce strategy that engages temporary workers for specific projects, allowing organisations to access specialised skills without long-term commitments.

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Real-time reporting and analytics

Real-time reporting and analytics empower organisations to enhance decision-making and operational efficiency in contingent workforce management by providing immediate access to critical data and insights.

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Recruiter ownership period

A recruiter ownership period is a specified duration during which a recruiter retains exclusive rights to a candidate they have introduced to an employer, ensuring fairness and efficiency in the hiring process.

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Remote relocation

Remote relocation, or digital nomadism, allows professionals to move while working remotely, blending career progression with cultural exploration and flexibility.

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Resource managers

Resource managers optimise human resource allocation in organisations, ensuring the right skills are available for project success while navigating the complexities of modern workforce dynamics.

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Right to work verification

Right to work verification is essential for ensuring legal employment compliance, protecting workers, and maintaining fair competition in the UK job market.

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SDC (Supervision, Direction, and Control) Compliance

SDC (Supervision, Direction, and Control) Compliance is vital in UK contract management, defining worker status and influencing taxation, legal rights, and business relationships.

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Self-Assessment tax returns

Self-Assessment tax returns are essential for UK freelancers and self-employed individuals to report income, calculate tax liabilities, and ensure compliance with HMRC regulations.

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Skills-based hiring

Skills-based hiring prioritises candidates' practical skills and competencies over traditional qualifications, fostering improved job performance and inclusivity in recruitment.

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Sole trader compliance

Sole trader compliance encompasses the legal and regulatory obligations self-employed individuals must meet to operate ethically and avoid penalties.

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Stock options for contractors

Discover how stock options for contractors offer a unique compensation model that aligns contractor interests with company success in the evolving gig economy.

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Strategic workforce planning

Strategic workforce planning aligns an organisation's human capital with long-term goals, addressing workforce gaps to enhance competitiveness and adaptability.

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Talent acquisition strategy

A talent acquisition strategy is a proactive approach to attracting and hiring top candidates, focusing on long-term workforce planning and employer branding to ensure organisational success.

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Talent pipeline development

Talent pipeline development is a strategic approach to cultivating a pool of qualified candidates for current and future roles, ensuring a steady flow of skilled professionals ready to meet organisational needs.

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Talent pooling

Talent pooling is a proactive recruitment strategy that builds and maintains a database of qualified candidates to streamline hiring and enhance employer branding.

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Talent sourcing team

A talent sourcing team is a specialised group within HR focused on identifying and engaging potential candidates to enhance recruitment efficiency and quality of hires.

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Talent supply chain management

Talent supply chain management (TSCM) strategically optimises workforce acquisition and development, treating talent as a vital resource to enhance organisational agility and performance.

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Time-to-hire metrics

Time-to-hire metrics are essential KPIs that help organisations measure and optimise the efficiency of their recruitment processes, ensuring they attract top talent swiftly and cost-effectively.

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Timesheet management

Delve into the intricacies of timesheet management, exploring its definition, importance, and best practices for successful implementation.

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Total workforce management

Total workforce management (TWM) is a holistic strategy that optimises productivity and compliance across all worker types within an organisation.

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UK Agency Workers Regulations

The UK Agency Workers Regulations (AWR) ensure equal treatment and rights for temporary agency workers, promoting fair employment conditions since 2010.

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UK Employment Tribunal

A UK Employment Tribunal is an independent body that resolves employment disputes, ensuring fair labour practices and access to justice for both employees and employers.

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UK Freelancer Union Representation

Explore the rise of freelancing in the UK and the importance of union representation. Learn how YunoJuno supports freelancers with sourcing, management, and legal compliance, ensuring fair treatment and professional growth.

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UK Pension Auto-enrolment

UK Pension Auto-enrolment is a mandatory initiative requiring employers to automatically enrol eligible workers in pension schemes, aiming to boost retirement savings across the UK.

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UK Prompt Payment Code

The UK Prompt Payment Code promotes fair payment practices, ensuring timely payments to suppliers and supporting the financial health of SMEs.

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UK Statutory Sick Pay for freelancers

A comprehensive overview of UK Statutory Sick Pay for freelancers, exploring eligibility, payment structures, and implications for the gig economy.

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UK Working Time Regulations

The UK Working Time Regulations establish legal limits on working hours and rest breaks to safeguard employee health and safety, originally implemented in 1998.

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UK gig economy regulations

The UK gig economy regulations establish a framework to protect workers' rights while accommodating the flexibility of freelance and temporary work arrangements.

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UK work visa regulations

Explore the complexities of UK work visa regulations, essential for employers and foreign workers navigating entry and employment in the UK.

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Umbrella companies

Umbrella companies act as intermediaries for contractors, managing employment-related tasks while providing benefits and compliance support in the evolving gig economy.

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VAT (Value Added Tax) for freelancers

A comprehensive guide for freelancers on understanding, managing, and optimising Value Added Tax (VAT) in the UK.

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Vendor management system (VMS)

A vendor management system (VMS) is a cloud-based platform that streamlines the management and procurement of contingent workforce and staffing services, enhancing efficiency and compliance for organisations.

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Workforce flexibility

Workforce flexibility is the organisational ability to adapt human resources to changing demands, enhancing productivity and competitiveness in a dynamic business environment.

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Workforce insights

Workforce insights provide data-driven analysis of an organisation's workforce, enhancing decision-making and optimising human resources strategies for improved performance.

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