MSP 4.0: FROM CONTINGENT WORKFORCE MANAGEMENT TO CONTINGENT TALENT EMPOWERMENT
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www.everestgrp.com | EGR - 2021 - 25 - V - 4434
Fulfilling the promise of MSP 4.0
All constituents of the MSP ecosystem need to work together and contribute to fulfill the promise
of MSP 4.0 in the next four to five years.
Talent - related investments
Talent holds the key to achieving the promise of MSP 4.0, and MSPs will have to double
down on their talent - related investments across the hire - to - retire cycle, including:
l Making MSP an attractive industry to join for prospective employees through better
branding and an improved employee value proposition
l Focusing on continuous, multi - dimensional upskilling and reskilling
l Finding better ways to engage talent in a distributed work environment
Technology - related investments
As technology is a key ingredient for the future success of MSP, providers will need to have
a strategy for continuous investments to keep pace with rapid digital evolution. This strategy
will require a flexible and multi - pronged approach, including:
l Making organic investments through the leverage of the right talent ingredients
l Developing a partnership ecosystem
l Being on the lookout for value - adding and complementary inorganic investments
Industry - mindset transformation
The MSP industry needs to believe firmly in the promise of MSP 4.0 and, accordingly,
engender a transformation in mindset at both the organizational and stakeholder levels.
This transformation needs to be multi - dimensional in terms of:
l Readiness to embrace new and rapidly evolving paradigms and models
l Repositioning the industry in the minds of clients and employees
l Having a higher risk appetite and following a fail - fast strategy to keep pace
with the dynamic business environment
Co - opetition
Stakeholders in the MSP industry need to work together in the spirit of cooperative
competition to achieve what individual organizations alone cannot, especially in terms
of working with the government and repositioning the industry in the minds of clients
and employees.
Role of enterprises
Enterprises will need to evolve their organizational mindsets related to contingent labor
to take full advantage of the potential of MSP 4.0, which involves:
l Evolving the relationship between the contingent talent management team
and broader HR and other organizational functions
l Being open to challenging old norms and embracing newer and more disruptive
models
