At Omnipresent, we pride ourselves on providing exceptional services that not only cater to our clients' needs but also safeguard their interests and their employees. One of the essential strategies we employ to achieve this comprehensive protection is the implementation of deposits from all our clients. These deposits serve as a crucial tool for risk distribution, fostering the development of a resilient and secure business environment that benefits all stakeholders.

Shared Risk Management

Think of deposits as a collaborative approach to managing risk. By requiring deposits, we introduce a means of risk distribution that shares the potential financial burdens more evenly between Omnipresent and all of our clients. This strategic initiative takes on added importance when considering situations where clients encounter payment delays or unforeseen financial obstacles, and in extreme circumstances, even insolvency.

The Role of Deposits in Protecting Clients and Employees

To gain a deeper understanding, let's explore a scenario where a client — or perhaps a few clients— confront payment delays or financial instability. In these regrettable cases, the responsibility for ensuring employee salaries might unexpectedly shift to the Employer of Record (EOR) provider for an extended duration, possibly spanning several months. This sudden financial load could considerably stress their resources, potentially setting off a sequence of financial instability that impacts not only their business but also resonates throughout their client base.

For Omnipresent, this scenario introduces operational risk as we navigate unforeseen financial hurdles stemming from delayed or missing client payments. If not handled effectively, this risk has the potential to escalate into an existential crisis.

Moreover, other clients who rely on our services could also experience repercussions. The stability of their business operations might be compromised, given the interconnected nature of business relationships.

Yet, most notably, the individuals who form the core of any organization — the employees — find themselves in uncertain waters. Delays or disruptions in salary payments could jeopardize their livelihoods and overall morale.

Securing Stability

By implementing deposits, we establish a safety net that shields Omnipresent, our clients, and their employees from the potential consequences of such unpredictable events. These deposits function as a buffer, enabling us to address unforeseen financial challenges without compromising the excellence of our service delivery. This strategic approach not only safeguards our clients' investments but also ensures the continuity and reliability of our operations, even amid uncertainties.

How the Deposit Works

Here's the good news: The deposit is designed to be fully refundable. When the employee's contract concludes, you can rest assured that the deposit will be promptly returned to your company, following the settlement of all final invoices. Please see our dedicated refund article for more information.

In essence, the deposit is a testament to our commitment to your business's security and prosperity. It underlines our determination to foster a sustainable partnership that thrives in the face of challenges, while ensuring that your valuable workforce remains supported and uninterrupted throughout.