Managed Services Providers allow for greater visibility into your contingent workforce, a faster access to talent and increased efficiency across your organization. If you’re working with a Managed Services Provider (MSP) to handle your contingent workforce, how can you be sure you’re getting the most out of the partnership?
One of the first things to consider when engaging an MSP, is to create a small project group to establish the goals you want to achieve from the program, with achievable and realistic expectations for the completion of the goals.
What are the type of goals you can set with your MSP? Here are some examples of areas to focus on:
Talent Focused Goals
- Define your ideal talent pool
- Develop a forecast of needs
- Create a reliable list of high quality vendors
Management Focused Goals
- Measure levels of engagement with your contingent workers
- Improve your supplier base performance
- Labour budget cost reduction
- Increase projects efficiency, keeping them on time and budget
- Reduce contingent workforce expenditures
If you can prioritize your goals, making them achievable and clear, you can translate them into action plans, key performance indicators or critical success measurements, which then can be part of your contract with your Managed Services Provider. When thinking about Leveraging your MSP partnership, you should also consider: are you looking for a professional advisor and ongoing consulting or just an MSP who provides your data?
If you just want your MSP to provide you data, they must be able to provide you with cross company visibility and an enterprise-wide view, on all the elements of your contingent workforce program. Your MSP can give you access to on-demand numbers and costs from contractors on assignment, to the status of all open requirements to other critical operational factors.
If you want your MSP to serve as an advisor or consultant, they will need to provide recommendations and improvements to meet your ever-changing business needs, in addition they will need to bring new insights in the industry and real-time developments. A good time to review your contingent program is quarterly to allow for a multiple meetings across a year with senior executives input.
At HCMWorks we can act as your MSP, finding opportunities and driving efficiencies, as well as protect your organization against the risks associated with non-permanent workers, be it staffing vendors, directly sourced candidates, independent contractors, and SOW resources.
Ask our team of contingent workforce advisors how we can help. Learn more about why HCMWorks could be the right choice to help develop your Contingent Workforce Managed Services Program.