MANAGED SERVICES PROVIDER
Greensboro Staffing Consultants’ MSP solutions encompass a variety of managed service models to meet each of our clients’ workforce management needs.
What is MSP?
A Managed Services Provider (MSP), also referred to as a Managed Supplier Program provides a comprehensive contingent workforce management solution and recruitment strategies. An MSP is responsible for managing a company’s entire workforce life cycle including supplier management, requisition management, onboarding, timekeeping, invoicing and payment, contract termination, and offboarding. It will typically partner with a leading vendor management system (VMS) to provide transparent reporting and tracking, allowing companies full visibility into their supplier base and their contingent workers.
In addition to contingent workers, MSPs can manage and track a variety of workforce types including, temp-to-hire, independent contractors (1099s), SOW engagements, direct hire, and gig-economy workers, offering a total workforce solution.
When to Consider Using an MSP?
There are key considerations and recruiting strategies you need to address when considering an MSP to manage your contingent workforce, or as a total workforce management solution. You’ll need to review your goals and assess whether your organization can meet them with your existing internal resources.
As part of your evaluation be sure to consider the following reasons that typically lead companies to engage an MSP provider, including:
The complexity of your existing workforce is increasing rapidly. You are engaging a variety of worker types, including contingent workers, independent contractors (1099s) and SOW workers.
Your internal workforce managers spend an increasing amount of time managing workers, and other worker types. This includes managing and tracking a growing number of staffing suppliers.
Your organization needs clear guidance regarding worker classification regulations and compliance to avoid worker type misclassification, which could potentially lead to litigation.
You need complete visibility into your workforce spend and associated costs and are seeking to centralize your contingent workforce
Your organization wants comprehensive reporting and analytics to make strategic decisions regarding workforce utilization.
Benefits of An MSP Program
If your company has limited visibility to your worker spend and your internal HR team is dealing with a continuously growing list of staffing suppliers, you may benefit from a comprehensive MSP program. The right MSP program will help you streamline your workforce processes, provide you with full program transparency, reduce hard costs and capture soft savings, and help you mitigate risk and be in compliance with worker regulations.