MSP 4.0: FROM CONTINGENT WORKFORCE MANAGEMENT TO CONTINGENT TALENT EMPOWERMENT
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www.everestgrp.com | EGR - 2021 - 25 - V - 4434
MSP 4.0: The future of Contingent Talent Management
In a world disrupted by fast - paced technological innovation, evolving consumer expectations,
workforce mix changes, a widening talent demand - supply gap, and an uncertain geopolitical
environment, contingent workforce not only offers a measure of stability through greater flexibility
but also is key to achieving business outcomes around top - line growth acceleration and bottom - line
protection. And as COVID - 19 demonstrated once again, the contingent workforce is one of the most
critical contributors to an organization's ability to be flexible and nimble in the face of crises and rapidly
changing business and economic environments through its capacity to scale up or down with extreme
agility. A redefined MSP model, MSP 4.0, will ensure that organizations can leverage their contingent
workforce to actively contribute to business growth and outcomes in normal and crisis situations.
Exhibit 6 outlines MSP 4.0's key value propositions.
The distinguishing aspect of MSP 4.0 versus prior models will be the tectonic shift in focus toward talent
– that is, it will move beyond the traditional focus on cost, compliance, and procurement. This talent
focus will include key talent management facets, traditionally used solely for the permanent workforce,
now being used for contingent workforce as well. MSPs will help organizations manage the entire talent
hire - to - retire cycle with support for contingent talent acquisition, engagement, experience, development
and skilling, and ultimately redeployment. At the same time, MSP 4.0 will help introduce the next wave
of exponential efficiencies and cost savings driven by newer technologies and distributed workforce
and will enhance the experience of all stakeholders, not only the contingent workers'.
EXHIBIT 6
Key value propositions of MSP 4.0
Source: Everest Group (2021)
Focus will shift; talent will be the most prominent distinguishing aspect of MSP 4.0, including
all talent - related facets: acquisition, engagement, management, skilling, and redeployment
Visibility into entire contingent workforce (and permanent workforce)
Gateway to total talent management
Superior stakeholder experience
Extreme agility, scalability, and flexibility with lower risk
Exponential efficiencies / cost reduction across the board
Active contribution to business outcomes
