Issue link: https://insights.randstadsourceright.com/i/1391888
MSP 4.0: FROM CONTINGENT WORKFORCE MANAGEMENT TO CONTINGENT TALENT EMPOWERMENT 14 www.everestgrp.com | EGR - 2021 - 25 - V - 4434 In addition to managing the entire spectrum of contingent workforce categories, a DCP and direct sourcing opens up exciting opportunities to align permanent and contingent talent strategies. MSP 4.0 can help organizations have complete visibility across their entire workforces that enable them to unlock strategic benefits related to total talent management, especially around better workforce utilization, improved demand management, strategic workforce planning, and better alignment with overall business objectives. Domain - centric As MSP 4.0 aims to provide more strategic benefits to organizations, domain expertise (process - based, technology - based and industry / job family - oriented) will be key to success. Deeper domain knowledge to deliver strategic processes such as consulting/advisory, strategic sourcing in services procurement, strategic workforce planning, employer branding, and diversity strategy design will be important. As the technology landscape becomes more complex and the array of tools to choose from larger, providers will need to bring in the expertise to help curate the most appropriate set to help create an optimal technology ecosystem. Industry - specific expertise, in terms of the ability to source, screen, and engage the best talent, especially for niche skills and difficult - to - hire roles, will be absolutely critical. As sector - specific nuances increase (such as in healthcare, life sciences, etc.) and talent for various job families resides in different silos, verticalized domain expertise will be increasingly critical to success going forward to understand and solve for the unique issues associated with each sector or job role. Diversity, Equity, and Inclusion (DE&I) DE&I has always been present in MSP, but barring a few enterprises, it has often been a nice - to - have. However, given the global environment, DE&I has become central to organizations' talent strategies. As talent acquisition is vital to building a truly diverse organization, the role of MSPs is more important than ever before. MSPs can play a critical role in supporting organizations' DE&A initiatives by: l Benchmarking the current state of the organization's DE&I, in terms of external messaging, integrating it into the employer brand, and tracking the actual state of diversity in the organization l Advising on the development of DE&I strategy including type(s) of diversity to focus on (gender, racial, veterans, differently abled - people, LGBTQ, neurodiversity, etc.) and an execution roadmap with clear milestones and dates l Helping measure diversity at various stages of the hire - to - retire lifecycle, during the sourcing, screening, and interviewing stages, as well as in retention and redeployment through detailed analytics l Helping source diverse candidate slates and identifying/eliminating conscious and unconscious biases l Working closely with hiring managers to educate them on the implications of their choices on diversity