When you engage with a managed services provider (MSP), many companies experience significant benefits. Talent curation solutions allow companies to handle their contingent staffing needs more effectively, ensuring they have the right skill sets available at the right time. Plus, the approach is highly cost-effective in comparison to addressing these needs internally, which impacts your bottom line.
Managing your contingent workforce should be an active process. Otherwise, a lack of internal oversight can allow issues to impact performance. Here are three best practices that innovative managers embrace as a means of reviewing the impact of contingent staffing programs to stay ahead in forecasting future needs.
Data is critical if you want your MSP solution to be a success. The strategic use of surveys at proper intervals ensures you can gather vital information, giving you the ability to review worker performance and overall productivity.
Reporting features and quarterly business reviews are also a crucial part of the analysis process. These will give you big-picture overviews and wider visibility, allowing you to see how each component impacts another and identify the source of any bottlenecks or productivity shortfalls.
An influx of data can quickly become overwhelming. To make the most of the information, you need to identify key performance indicators (KPIs) and other valuable metrics to monitor the success of your MSP programs.
Select your high-priority KPIs and make sure you are receiving the proper reports and survey results based on those areas of focus. Consider the effectiveness of both your suppliers and the MSP. Otherwise, you are only looking over a part of the overall picture.
As you review the information, it is important to coordinate with your MSP partner to identify potential changes that can support increased efficiency and higher profitability. Then, when action steps are identified, make sure they are prepared to move forward quickly, allowing you to experience the benefits of the changes as fast as possible.
When it comes to controlling the effectiveness of your solution, maintaining an action-oriented mindset is crucial both for you and your MSP partner. Otherwise, you may miss an opportunity to make significant progress at critical junctures, harming your overall level of profitability and effectiveness in the competitive manufacturing business landscape.
If you are ready to secure an innovative direct sourcing solution for 2019, allowing you to experience increased efficiency and profitability when managing your contingent workforce, the team at nTech wants to connect with you. Contact us to speak with one of our specialists today and discover how our flexible and comprehensive workforce management services can help your business thrive today, tomorrow, and well into the future.