Today’s younger generation of highly skilled and high performing workers are increasingly participating in the contingent labour workforce, in a bid to trade job security for increased freedom and flexibility. Companies are adapting, and it’s estimated around 40% of the U.S. workforce is currently made up of temporary contract workers, independent professionals, freelancers, and contractors or consultants.
As reliance on the contingent workforce becomes firmly entrenched in North America and continues to expand, HR and procurement executives are looking to their contingent workforce program to improve their company’s productivity, implement significant costs savings and to acquire the top talents within their industry.
Vendor-Neutral MSP - The New Model
Early adopters often selected a MSP firm to oversee their contingent labor, but over time this has resulted in a less productive and more costly operation. Many MSPs were also staffing providers, which meant it was difficult to keep tabs on whether the MSP would actually favour itself or particular staffing firms over others. Whether they acted on it or not, the MSP held a bias for their own staffing services - in effect a conflict of interest, and companies could not be assured that they were acquiring the top talent they needed, or fulfilling requirements at a competitive cost.
In some organizations these difficulties led to loss of confidence in the contingent program, and opened the gate to circumventing MSP hiring, rogue spending, and lack of visibility within the business.
The vendor neutral MSP was born out of the staffing controversies of this older MSP model.
The new model organizations are turning to, is to partner with an MSP that offers a neutral service with respect to staffing companies while also remaining neutral in their choice of Vendor Management Systems.
It is essential that the MSP has no staffing capability or affiliation to any staffing providers. Only with this model can an organization be certain that their MSP is operating for their benefit only - fulfilling staffing requirements with the best available talent and opening up the process to competitive rates against requisitions.
With organizational confidence restored - the risk of departments or regions operating outside of the model is reduced or eliminated - and companies can get on with managing an effective contingent workforce program along with their vendor neutral MSP partner.
HCMWorks provides MSP services that are 100% vendor neutral.
From day one, we have provided advisory services that are focused on improving and optimizing our clients business. We investigate the complete talent spend footprint and identify areas that would require additional support from staffing vendors. Our recommendations are based on the core competencies and strengths of suppliers, rather than any preferential relationship. RFPs, market research and other proprietary information is used to propose the correct vendor mix for clients.
Being a pure play MSP and contingent workforce advisor, we have the freedom to design, implement, manage, negotiate and optimize your contingent program with no hidden agenda.
We’re proud of our track record providing optimized programs and cost savings. In our experience, HCMWorks clients can expect a cost savings between 7.5% and 15% in the initial year of their program.
If your organization has been struggling under an outdated MSP model that doesn’t deliver the strategic talent you need, with competitive contingent workforce rates - it’s time to move forward and engage a vendor neutral solution.
Contact HCMWorks today to learn more about our vendor neutral MSP services.