The New Year is finally here and business owners and executives alike will be planning new strategies to grow their business, boost profits, streamline their processes and optimize their HR, procurement and talent acquisition strategies.
With talent acquisition and a shortage in skilled workers becoming an increasing concern for companies across a variety of industries, hiring the top talent in your sector could prove to be the best way to grow your business in 2019.
However, with the growth of the contingent workforce, a plethora of new technologies and services to hire workers and the increasingly complex nature of managing your workforce, how can your HR or procurement team create a strategy that finds these workers?
If your business is struggling to hire talent that meets your expectations, it’s perhaps time to consider the help of a managed services provider (MSP). An MSP can deliver considerable cost savings and other advantages. Here are five strategic benefits an MSP can bring to your organization.
1 - Transparency into your workforce
By overseeing the management of your contingent workforce, MSPs are in a unique position to ensure that your company has complete visibility into your operations and your contingent workers.
Through the use of various innovative technologies and expertise in the industry, MSPs can create, monitor and report on your company’s corporate key performance indicators (KPIs). Using this data for benchmarking, best practices and workforce reporting will help to constantly improve your recruiting strategy as your business develops.
2 - Securing top talent fast
Sometimes your company may land an unexpected client, or perhaps you lose an employee on short notice - this is when you need to find a new employee fast, but at the same time you can’t risk settling for a staff member that’s not up to the job.
By working with an MSP you will be able to find and place high quality workers in a short timeframe. Traditional hiring techniques take an average of 60-90 days to fill a position but MSPs, on the other hand, can find talent across a broad range of staffing vendors and onboard employees in a far shorter timespan.
3 - Improved flexibility and scalability
The digital world has created a business landscape that is constantly evolving, and a result your business must always be capable of responding to a quickly changing market - a flexible workforce will allow your company to do this.
An MSP will give you access to a large database of employees with various skills that can be hard to obtain. This enables your business to scale up or down quickly whenever you need to, as well have the flexibility to adapt to changing market conditions when needed.
4 - Access to world-class technology
The very best MSPs are constantly investing and partnering with world-class technology providers, which will give your company the opportunity to refine your business processes and access to today’s most innovative tools.
For example, a vendor management systems (VMS) will help transform your recruiting strategy from a fragmented process to a unified and centralized database that gives your company visibility into worker wages, the most efficient sourcing methods, where your workers are located, payment tools and much more.
5 - Reduce the pressure on your HR and procurement teams
Your MSP partner can act in a purely advisory role to kickstart a comprehensive strategy. However, you can also use them to take the stress away from HR and procurement teams, allowing those departments to focus on other important business decisions.
MSPs can save hiring managers time by acting as the single point of contact for your company and staffing providers, client managers and workers, as well as taking charge of invoicing and vendor payments.
Want to learn more about how an MSP can help your business acquire the top talent in your industry, and as a result drive your company into the future? Contact our team of experts today for more information.