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A Managed Service Program (MSP) manages the contingent worker recruitment program for an organisation taking full responsibility for the complete running of the contingent workforce, including management of the: program, reporting and tracking, the recruitment supply chain, and invoice consolidation.
Outsourcing your contingent worker program to a Managed Services Provider will help deliver cost efficiencies to your business and provide industry-leading best practices for achieving your goals.
Many of our solutions are deployed with our award-winning vendor management systems.
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What are the benefits of a Managed Services Program (MSP)?
In a highly competitive and complex contingent talent market, using a Managed Services Provider for your contingent worker needs delivers measurable value and benefits to your business.
Visibility and Control
Hexgon West Workforce Solutions provides you with complete visibility and control of your contingent and non-employed worker programs. Technology agnostic, we use your choice of Vendor Management System to design a solution that fits your needs.
Risk Mitigation through Compliance
Ensuring that your temporary workforce meets both the compliance requirements of your organisation and the industry is a challenge. This becomes even more complex when you factor in the ever-changing requirements of the legislation.
Hexgon West WFS governance and global expertise ensures compliance through industry best practises and alignment with your organisation policies through:
- Ongoing risk assessments
- Standardised compliance process and audits
- Worker Misclassification and co-employment evaluations
- Supply chain rationalisation and management
Process Efficiencies and Cost Savings
Hexgon West WFS uses industry best practises and procedures to drive cost savings and process efficiencies into your contingent worker program. This includes seamless implementation of your contingent worker program and systems, streamlined recruitment processes, a robust supplier management, and selection process, real-time reporting and predictive analytics, and single-point invoice management.
Frequently Asked Questions
What is a Managed Service Program (MSP)?
This is a structured method of managing an organisations’ contingent workforce needs, including the provision, oversight, and coordination of a staffing supply chain. An MSP ensures that businesses can efficiently acquire temporary workers, independent contractors, and specialised talent services through streamlined procurement and workforce management processes.
How does an MSP benefit my company?
Implementing an MSP offers a multitude of benefits: enhanced visibility over workforce and spend, cost reductions through streamlined supplier management and volume discounts, improved compliance with labour laws and regulations, and access to a broader talent pool through an efficiently managed supply chain. Essentially, it allows companies to focus on their core business while ensuring their staffing needs are met efficiently and effectively.
Who manages a Managed Service Program?
Typically, an MSP is managed by an external service provider specialised in workforce management solutions. These providers have the expertise, information technology, and network to manage your contingent workforce effectively. They work closely with your HR and procurement teams to ensure the program aligns with your business objectives.
How is an MSP staffing different from traditional solutions?
A successful MSP encompasses several key components: a clear governance structure to align with business goals, a robust technology platform for visibility and management, a comprehensive supplier management strategy to ensure quality and efficiency, and a data-driven approach for continuous improvement and decision-making. Moreover, strong partnership and communication between the client and the MSP provider are crucial for achieving desired outcomes.
Can an MSP be customised for small or niche market needs?
Absolutely. One of the strengths of an MSP is its flexibility and scalability. Providers can tailor programs to meet the specific needs of any organisation, regardless of size or industry. This includes designing solutions that address unique challenges, such as managing niche talent pools or complying with specific regulatory requirements. The goal is always to ensure that the MSP solution aligns perfectly with the client’s business strategy and workforce needs.
What is the process for implementing an MSP?
Implementing an MSP involves several steps: assessing the current state of your contingent workforce management, defining the scope and objectives of the program, selecting the right MSP provider through a rigorous RFP process, and then transitioning to the new model. This is followed by ongoing management and optimisation of the program, with regular reviews to ensure it continues to meet your evolving business needs. Successful implementation requires strong commitment and collaboration from all stakeholders.
