1. enhanced program visibility.
One of the biggest challenges with managing
a contingent workforce is getting a clear line
of sight into spend across the enterprise. This
affects a company's ability to measure program
performance accurately.
3
For instance, one of the most important contingent
workforce related considerations is employment
classification. Failure to classify properly can result
in fines and back taxes. Not only can your MSP
partner support classification efforts, but they
also help with taxation management, data privacy
initiatives and vetting suppliers and workers.
2. compliance and risk mitigation.
3. access to top talent.
Randstad Sourceright's 2018 Talent Trends
research finds that 62% of human capital and
C-suite leaders say getting the skills they need is
one of their top concerns. MSPs can address this
issue by optimizing the supply chain and ensuring
access to a variety of skills.
With an MSP in place, companies benefit from
having clarity on important metrics such as level
of spend, time to fill, quality of placement (through
turnover data and manager satisfaction surveys),
program participation and more.
As alternative work arrangements become more
common, businesses face increased risk and
liability. With an MSP talent model, companies
benefit from external expertise on compliance
best practices, and insights on local, regional
and global regulations and processes that tightly
adhere to important mandates.
Through supplier rationalization, MSPs can also
help you build more strategic relationships with
vendors to ensure a higher quality of talent.
4. supply chain efficiency.
Many companies struggle with their talent supply
chain. Some have dozens, if not hundreds, of
suppliers throughout the organization, making
management especially difficult. Ensuring all
suppliers adhere to policy and processes can be
a logistical nightmare, especially as so many are
administered individually by hiring managers.
Vetting and negotiating terms, standardizing
rate cards, processing payments and other
functions all require tremendous effort as well.
An MSP talent model uses proven processes
and technologies to create a more efficient,
transparent and accountable supply chain.
