Partnering with an MSP represents a fundamental shift in how you manage your contingent workforce. As a result, you are poised to reap a variety of benefits from improved risk mitigation to reduced costs. Before getting started, you need to make sure you will be able to obtain the benefits that align with larger business objectives, depending on your current operations.
Understanding how an MSP can help make your goals achievable is a critical part of the process, allowing you to feel confident once you reach the implementation phase.
Which of these five key benefits of MSP solutions matter most for your business?
By working with an MSP, all of your contingent workers are captured in a single system. This simplifies everything from spending management, auditing, compliance, and communication.
Rogue spending is ultimately reduced thanks to centralization. Reporting allows you to oversee and streamline your contingent workforce, ensuring you have the highest level of visibility thanks to a comprehensive structure. Finally, since you hold a single master contract with the MSP, your internal processes are simplified.
An MSP is designed to lower costs, increase quality, and improve efficiency. The workforce management approach reduces delays and minimizes strain on project teams thanks to customized workflows, data synchronization, consolidated invoicing, process automation, and a streamlined candidate delivery process.
Plus, the MSP monitors various metrics to ensure that bill rates align with market demand according to job categories, and supplier competition secures more favorable bids. Blind scorecards and quarterly business reviews ensure suppliers are held accountable and are meeting strategic objectives, ensuring you are accessing the highest quality services possible.
With programs like nTech’ Talent Direct program, your recruitment ecosystem is organized and streamlined, allowing you to access curated talent pools based on your specific needs. New openings are responded to quickly, reducing your time to fill thanks to ready-to-go talent. Talent forecasting enables an MSP to effectively prepare for future demands, even before they are fully realized, further improving the speed of service.
With the addition of a Passthrough service, you also have a cost-effective mechanism for managing internally referred workers and alternative suppliers. This empowers you to embrace talent, no matter where it is found while streamlining processes, lowering costs, and effectively managing risk.
Make sure you are partnering with an organization that provides strategic guidance on contingent staffing management practices. This includes insights on regulations, sourcing, and market data, ensuring you are always fully informed and compliant. This way, leaders can gather the information they need directly from the MSP, enabling them to remain informed thanks to transparent communication practices.
Managing your employer brand is critical if you want to meet your recruitment and retention goals. With an MSP, you gain access to high-tech solutions designed to attract top talent, including hard-to-reach passive job seekers. Your brand is leveraged and enhanced, allowing you to be viewed as an employer of choice by skilled candidates.
If you are ready to find the MSP solution your business needs, the skilled team at nTech wants to hear from you. Contact us to speak with one of our MSP solution specialists and learn more about our comprehensive workforce management services today.