Although the economy is improving, many organizations are still struggling to keep employment costs low while acquiring and retaining a high-performing workforce. And with the implications of the Affordable Care Act looming, many business leaders are realizing that contingent workers are going to play an important role in their upcoming staffing solutions.
However, many hiring managers are realizing how time-consuming this might turn out to be. As a result, they are looking at new options.
Reduce Time & Costs
Most companies already use vendors to supply contingent staff but have found that it’s not enough. Or that it takes too much time to keep track of it all—especially if your company has multiple locations. If you need someone to help manage your contingent workforce, a managed staffing partner might be your answer.
A managed staffing partner (MSP) oversees all aspects of the procurement of supplemental staff, including selection of the staffing providers, and quality and compliance assurance. They focus on finding and using the tools, resources, and technologies needed to reduce the time and costs associated with talent acquisition and hiring.
What Are the Benefits of an MSP?
- More Purchasing Power – If you currently use multiple vendors, you pay a variety of rates, sometimes for the same positions. Working with an MSP means that you pay standardized contract rates and terms across all vendors and all positions. You’ll achieve optimal purchasing power and also know exactly how much you need to budget.
- Improved Efficiency – You’ll have one point of contact while gaining the recruiting strength of multiple firms operating in their niche specialties.
- Improved time-to-fill through a streamlined communication model and standardized candidate submittal process.
- Higher Quality Employees – An MSP will evaluate and track every contingent employee to ensure the best talent keeps coming back, while sub-par performers do not.
- Less Risk and Liability – Having an MSP allows you to avoid possible co-employment pitfalls and ensure you are in compliance with all local, state and federal employment practices as it relates to your contingent workforce.
- Single Source Billing– Instead of multiple invoices from multiple vendors, you’ll receive one invoice from your MSP.
Finally, working with an MSP allows you to focus on:
- Employee retention
- Recruiting strategy
- Employee relations
- Training and development