see contingent workforce
program results faster.
Typically, an effective working partnership
leads to improvements almost immediately.
For many MSP practitioners, cost savings
are critical. This goal is often achieved
through supplier rationalization, which
results in more strategic partnerships and
more favorable pricing. Savings can also
come from establishing a supplier panel with
agreed terms, basic spend analysis, panel
compliance and savings baselines.
Another immediate benefit is access to
cutting-edge technology to streamline
key processes like procure-to-payment
management, billing and payments, basic
dashboards, supplier performance reporting
and demand management. The introduction
of talent analytics will also help determine
gaps in a number of areas such as time to fill,
program compliance and others.
4
As you achieve these initial gains, you can further
improve order demand management, KPIs for
better supplier performance, improved candidate
selection and optimized candidate onboarding
and offboarding. These initiatives will not only
drive cost savings and avoidance, but also fuel
better business performance.
achieve long-term value
through constant innovation.
Following implementation, it's important to
ensure program stability, but that doesn't mean
that ongoing improvement and enhancements
have to stop. You can work with your MSP
provider to determine how a tiered roll out
can continuously bring innovation, without
imposing too much change too quickly. With a
realistic road map for achieving future gains, a
successful MSP will evolve and create value.
To achieve this, focus on close collaboration
and investments in value-added services, such
as a contingent talent-focused employer brand.
You can even evolve the program to span all
talent types, including permanent hires, as part
of your journey into a total talent strategy. Using
predictive and prescriptive people analytics will
help you better determine workforce needs and
steer your strategy toward company goals in
the most expedited manner.
Some of the more recent innovative MSP
practices include the incorporation of automation
and creation of customized, independent talent
pools. These steps will further speed access to
talent, which has a direct impact on business
outcomes. As organizations look to become more
agile and flexible to changing market conditions,
their reliance on contingent talent will only grow.
A company's ability to acquire the best temp,
independent and statement of work (SOW)
talent they need quickly and cost effectively will
undoubtedly drive financial performance.
