Many companies with smaller contingent labor spend are engaged in low-volume, vendor-neutral managed service programs (MSP) to support their contingent workforce needs. Unfortunately, these programs tend to be transactional and provide little value add to the talent function and overall organization.
In a vendor-neutral model, the MSP providers involved are not invested enough to truly make the level of impact companies need to make the most of their talent resources. Luckily, a new solution has emerged in the way of an integrated MSP with direct delivery of contingent talent, which can fill this gap for employers with less than $30 million in contingent labor spend.
By using a vendor management system (VMS) combined with an MSP, companies can benefit from better process control with defined workflows, an established supplier network and more. Automation technology plays a significant role in this scenario, providing data on the contingent workforce life cycle for better, more informed decision making.
Companies that choose an integrated MSP find that they can build stronger relationships, drive greater efficiencies and improve talent quality. Having a dedicated MSP partner delivers greater satisfaction to hiring managers as well, with quicker time to fill and higher contractor retention rates.
About the AuthorMore Content by Brandon Vogel