With the ubiquitous use of contingent workforce programs, and the Vendor Management Systems that help manage them effectively, comes the requirement to add Managed Service Providers (MSPs) to enjoy all-round benefits. Once you have an MSP on board, so many tasks related to the contingent workforce program can be delegated to the MSP. The MSP takes over the responsibility for all issues related to compliance, most of the interactions with suppliers, the timeliness of candidate submissions plus the quality of candidates, improved program processes, cost savings and a higher return on investment. All these results may be achieved by a company with an internal MSP program. But for those who wish to outsource the task, it doesn’t need a lot of effort to come to the conclusion that choosing the right MSP is an imperative.
What are the qualities one needs to look for in an MSP? All MSP programs are not the same and it’s important to select an MSP based on specific criteria and the MSP’s ability to fulfill the same. As with any vendor, the level of support provided, along with the fit and integrity of the MSP, are crucial aspects that must be verified. Apart from these, do you know what considerations would go into the selection of an MSP to ensure the success of your program?
It pays to decide at the outset whether you’re looking for a boutique provider who caters to specific niche opportunities, or a large MSP who can provide comprehensive support but only in particular industry segments and job categories. You may also go for an MSP who operates as a go-to vendor for any client and any role.
Gain clarity on what really matters to you with regard to the capabilities of the MSP from the following list:
The question now is whether it’s possible for you to identify the best MSP who can deliver your services that meet the parameters most important to you. How do you pick an MSP who can deliver results?
Make sure that you have an adequate number of MSPs in the running for the coveted job before you start evaluating them.
Having selected your choice of MSP, get the MSP to partner with you in all aspects of your program, priorities, mission and business objectives.
Collaborate with the MSP on your hiring needs defining job requirements, desired skillsets/candidates and evaluation criteria. Help the MSP to gain awareness of your company’s unique requirements, cultural fit, location or function-specific requirements. Let the MSP know all about your employee policies such as hiring veterans, retirees or establishing alumni networks for the lifetime engagement of contingent workers.
Don’t forget to stay engaged with your MSP and keep the lines of communication open – because it’s an essential part of keeping the MSP aware of your desired goals to be able to strategize on the delivery.
Do you have any other tips to for selecting an MSP to add to these?
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