How is LifeSciHub different from any other flexible staffing provider my company already works with?
LifeSciHub is as different from traditional staffing suppliers as Airbnb is from a hotel chain like Hilton or Marriott. Although the destination may be the same between LifeSciHub and “flexible staffing providers”, in this case, non-full time employee expertise, the underlying economics are completely different due to LifeSciHub’s total fee transparency on all sides. This is a crucial distinction, for the talent pool especially. Total transparency attracts extremely high quality talent that would otherwise be inaccessible. This is usually not obvious to Hiring Entities.
OK, I posted a project on the LifeSciHub platform, now what?
Independent consultants with the skills you require have been alerted to your project and will “express interest” if they are available and interested in working on the project. You can also search through the experts and “invite them” to your project. As soon as you like you can reach out to them directly to schedule an interview. Simply log onto www.lifescihub.com and browse!
Why doesn’t LifeSciHub provide rate information?
LifeSciHub is a neutral marketplace and does not attempt to influence or dictate rates to hiring entities or ICs. The LifeSciHub process encourages the hiring manager and IC to have direct contact as early on in the process as possible. Discussion of scope, skills required, duration and general project approach/brainstorming inform the eventual deal. Should the hiring entity want to move forward with a proposal, the IC will make an assessment of hours and propose their rate for the work. Oftentimes the consultants on the LifeSciHub platform have a range of rates. Work that is strategic and short term could command a higher rate than long term execution tasks. Ideally, the Hiring Entity can receive more than one proposal and benefit from market competition in order to achieve a best project fit.
Can rates be negotiated?
Of course! However it is ultimately up to the independent expert to decide if they can accept the project at whatever rate the hiring entity requests. LifeSciHub makes no guarantee of being able to supply resources at certain rates.
So what are the fees anyway? How does LifeSciHub makes money?
Originally LifeSciHub charged 10% of the negotiated rate to both the hiring entity and the expert provider, however this caused confusion. As of Q2 2021 we are moving to a flat rate of 20% of the negotiated rate payable by the hiring entity. All fees and payments are fully transparent.
What about HR compliance, worker classification and other issues associated with using Independent Contractors?
LifeSciHub only works with incorporated businesses. All members are LLCs, S Corps or other company structure, which LifeSciHub vets and verifies. Contracts and payments go through LifeSciHub, here are our template documents (you have to be logged in to LifeSciHub.com to access) https://lifescihub.com/tag/docs/. LifeSciHub can also use the hiring entity Master Services Agreement. Once an MSA in place, Hiring Entities have access to all the consultants on LifeSciHub.com without having to sign additional agreements. The Independent Consultant will however submit an SOW that becomes an attachment to both HE and Expert LifeSciHub agreements and is therefore binding. Legally, the IC acts as a subcontractor to LifeSciHub.