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MSP case study: global asset management firm gains contingent workforce visibility and improves compliance

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For an Australia-based global asset management firm with operations across nine countries, the use of contingent talent is crucial to meeting client needs and staying ahead of the competition. Given the costs and compliance risks associated with procuring and managing a contingent workforce internally, the company sought out external expertise to implement best practices and help standardize processes. By partnering with Randstad Sourceright on a managed services program (MSP), the company is gaining visibility, improving compliance and achieving greater efficiencies. the success. Rather than having HR bear the costs for sourcing contingent talent across the enterprise, the MSP program enables HR to charge the various business units based on the company's temporary hiring volume. Prior to program implementation, Randstad Sourceright renegotiated agreements the company had with subcontractors to reduce supplier markups and costs. Combined with other efficiencies, the company has saved nearly $4 million in two years with the MSP in place. With changing legislation around minimum pay rates, which vary by role and industry, the asset management firm is tasked with keeping up with constantly evolving rules. The MSP solution helps the organization stay on top of these changes and remain compliant with new and existing mandates. nearly $4M in savings improved structure minimizing compliance risk © Randstad Sourceright. 2018 human forward. global asset management firm adopts MSP to gain workforce visibility and improve compliance.

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