With digitalization and globalization continuing to drive business strategies, like many of your
peers, you are likely challenged with finding the skills needed to complete your company's
transformation. For many organizations, the solution is increasingly clear. Contingent talent can
help you address key workforce gaps, support company goals and drive innovation. As a result,
companies that adopt this approach are becoming more agile and effective. It's no surprise that
Staffing Industry Analysts (SIA) predicts the use of contingent labor among U.S. employers will
grow from 22% to 29% by 2026.
But even as organizations grow their flexible workforces to become more agile, there is a cost to
this approach: increased complexity. Employing a talent population that includes diverse work
arrangements requires more resources and attention to considerations such as compliance,
cost tracking and supplier management. In fact, SIA research shows that the percentage of time
contingent workforce managers spend on contingent talent responsibilities has increased from
16% in 2004 to 74% in 2017. As a talent leader, you probably know firsthand how demand for your
time has risen over the last few years.
To reduce this burden, a growing number of organizations are adopting managed services
programs (MSP), where an external service provider handles the management and administration
of a company's contingent workforce. Although cost efficiency is often one of the first reasons
that companies consider an MSP solution, those that implement this talent model realize many
other benefits that drastically improve contingent workforce planning overall.
For example, MSPs add visibility to the contingent workforce program, mitigate risks associated
with regulatory and internal compliance, provide greater access to talent and enhance supply
chain performance. All of these benefits contribute toward a common goal: helping employers
deploy the right talent at the right time. Let's take a closer look at the ways in which an MSP can
help your company become more agile.
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be more agile
with an MSP.