Companies are increasingly seeing the value of embracing contingent workers. Spending in the contingent labor industry was estimated at $3.7 trillion in 2017, allowing organizations to turn to flexible solutions that support productivity goals and adapt to changing circumstances.
Executives are learning that, to remain competitive, an extended workforce offers a tremendous amount of flexibility. However, failing to manage regulatory risk and stay compliant with federal and local labor laws can lead to serious financial penalties as well as damage to your reputation.
At nTech, we’ve designed a white paper outlining the steps to take to present a compelling internal business case. By adopting an MSP solution, businesses large and small can improve contingent labor processes, reduce risk, cut costs, and much more.
With an MSP solution, you get a structured approach for managing contingent labor that not only aligns with your larger workforce management strategy but also reduces costs and risk. However, even with all of the advantages, securing buy-in isn’t always easy. If you need to present a compelling business case for MSP Solutions, here are the initial steps you need to take:
Before you can take a single step forward, you need to know precisely where you are today. Examine all of the contingent workers who are supporting your organization now first. Then, explore any common seasonal additions that come on board during a typical year.
The goal is to get a solid overview and then define who these workers are, what duties they cover, how long they are used, and more. Then, you need to analyze your spending in multiple categories – including obvious costs (like pay) and hidden expenses (like HR professionals’ time) – to understand how your bottom line is impacted by your current approach.
Securing buy-in is a process, and you will need to engage with key stakeholders before you can accomplish this task. By getting their input now and enlisting a sponsor to function as an ally, aligning your goal with larger objectives, you can learn about any existing concerns and priorities that impact the delivery of an MSP solution. Then, you can respond to these points, showcasing the benefits, costs, and risks that make your approach ideal under company priorities.
As with any significant business objective, defining objectives and prioritizing key results is essential. You need to identify metrics that allow you to measure improvement and determine your level of success, ensuring your MSP solution is properly focused and, above all, effective.
For an MSP solution to meet your needs, a foundational design must be in place. Once you have defined your objectives, you can outline business requirements that focus on what you need and what you prefer, allowing the solution to be custom-crafted following your specifications.
Ready to get started building your case for an MSP solution and enhance your business’s workforce management efforts? If you want to partner with a leader in MSP solutions, the professionals at nTech want to hear from you. Contact us today to speak with one of our skilled specialists and learn more about our contingent workforce management services.