What Are the Different Ways to Build Winning Teams?
A increasing number of companies are choosing to engage with a managed service provider (MSP) for their hiring needs. However, what is the process...
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2 min read
nTech Workforce
:
Aug 3, 2018 6:53:29 AM
A Master Service Provider (MSP) is a company contracted by another company to provide large numbers of non-employees or independent contractors. These contractors are located through additional staffing agencies that work underneath the MSP.
Your MSP will oversee the entire hiring process – from finding workers to paying them. Your company need only contact the MSP to get answers about a specific contractor or position, rather than making dozens of phone calls. This standardizes the hiring process and guarantees all contractors meet a series of classifications and regulatory compliances before coming to work.
If your company has large-scale hiring needs and is looking to fill these positions at competitive rates, it might be time to consider an MSP.
There was a time when companies did everything alone, hiring a company lawyer, human resources manager and accountant. Now, these services are outsourced, making it easier for companies to focus on customer and employee retention.
There are many benefits to using an MSP, including an improved bottom line, competitive rates, a streamlined process and a single point of contact. Estimates show that anywhere from 60% to 80% of all Fortune 500 companies have adopted the MSP model for staffing.
There are three primary models used to organize an MSP, including:
In practice, an MSP is a small team of people who oversee the staffing program on-site. Each MSP employs a manager, industry specialists, hiring experts, and administrative personnel.
You may choose an MSP based on a variety of factors, including:
At nTech Workforce, we assist businesses in their quest to find skilled employees and contractors on a regular basis. Contact our team today to learn more.
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