How an MSP Manages Your Talent Pool

In the past, contingent labor was only popular during periods of economic hardship. Today, however, contingent workers are utilized for ongoing strategic initiatives, specific projects or as a percentage of the workforce. Contingent workers are provisional, non-permanent members of your team and includes classifications like consultants and freelancers. Utilizing these types of workers allows the permanent workforce to stay focused on core competencies and achieve their goals, as contingent workforces can be ramped up or down quickly, as needed.

“An MSP/VMS will provide a structured approach towards one of your greatest risks; the worker at your company that isn’t really part of your company. Mitigate the risk and bring visibility around the big data so you can make more informed decisions by partnering with CSSvSource, a separate company affiliated with Contemporary Staffing Solutions!” says Sharon Tsao, EVP Sales & Marketing, Contemporary Staffing Solutions.

The Benefits of Contingent Workers

The world of work is changing, and more people are seeking out the work-life balance that comes from working as a contractor, consultant, freelancer, etc. Workers enjoy the freedom and flexibility of this non-traditional path that allows them to use their best skills to contribute to a variety of employers over time.

Employers are also benefiting from the increased popularity of contingent work. When leveraged strategically, contingent labor leads to:

  • Cost savings
  • Stable budgeting
  • Increased efficiency
  • Access to a wider talent pool
  • Access to specialized skills
  • Flexibility and agility

The Pitfalls of Managing Specialized, Contingent Talent

These benefits can only be realized, however, if the process for hiring and managing contingent labor is effective. Some companies try to do it themselves. This can lead to even more confusion and expense. HR teams must spend a great deal of time sourcing talent, hiring them, developing contracts, establishing pay rates, dealing with intellectual property issues, as well as onboarding and offboarding short-term employees.

Other companies and others utilize a pool of several staffing vendors to supply their talent. This may seem like a logical solution, but internal teams often have no way of measuring which vendors are more efficient and effective and whether or not they are actually saving money over time.

How MSPs Manage Your Contingent Talent Pool

There is a third option, however, that can alleviate the costs and administrative burden associated with a contingent labor force: A managed service provider (MSP).  An MSP manages the entire process for you, end-to-end. They find candidates, classify them properly, administer the correct paperwork, and help them understand their contract. MSPs also have established relationships with suppliers to provide quick access to top talent, which is critical when trying to hire for specialized positions.

If your company utilizes contingent talent and you are looking for more effective ways to manage your workforce, reach out to CSSvSource for more information by emailing sales@contemporarystaffing.comContact us today to learn more about the ways we can help you access top talent quickly, manage costs and achieve your goals.