It's essential for sourcing professionals working in services procurement, who are using a Managed Services Provider (MSP), to have a clear understanding of what the MSP is supposed to do, why, and what to focus on when evaluating their performance.
For example, the services of an MSP that supports a contingent workforce management program typically involve: overall program management, vendor selection, training and evaluation, implementation and oversight of full-functionality sourcing applications, tracking and reporting, ongoing support, and enforcement of an organization’s procurement policies to ensure 100% adoption.
There are three main reasons why companies choose to engage an MSP, and these reasons tend to define the relationship:
One of the major benefits of using an MSP is the offloading of the administrative and tactical aspects of a contingent workforce program, allowing sourcing professionals to remain focused on more strategic and high value activities.
Finally, with an MSP serving as the single source of contact within a contingent workforce management program, the procurement department can dedicate more of its time to aligning itself with corporate objectives. This allows the company as a whole to leverage further their core competencies and reap the benefits of a strategic sourcing organization.
About HCMWorks
We are a contingent workforce service provider helping organizations gain better access to talent through the use of independent contractors, consultants, temporary workers, freelancers and other non-payrolled employees. We provide the expertise, the technology, and processes to help you reduce your workforce costs, mitigate against misclassification and co-employment risks, and increase the efficiency and timeliness of your contingent recruitment process. Read more about what our clients say about us here.