The True Value of an MSP

What are the two biggest reasons for using a managed service program (MSP)? For most companies, the answers are: to consolidate your contingent labor spending and see more clearly where your money is going.

And yet, using an MSP is not only about the cost. You need to think about its value.

In today’s workplace, employers want to find and keep the best talent available, so the first priority of any workforce solution should be to provide you with quality talent.

Here are some questions you can ask yourself to evaluate the value you get from your MSP:

  • Are the MSP hires of the quality and at the level your hiring managers expect? – If the answer to this question is no, the answer to whether you’re getting the most value out of your MSP is obviously no.
  • Do contract employees complete their assignments?
  • Do you frequently have to replace MSP hires? – If the MSP’s hires don’t work out, you’ll have to replace them. And when a contractor has to be replaced, your hiring managers have to spend time and effort interviewing and training new candidates. It’s like doubling your costs per position.
  • Do your hiring managers spend less time on sourcing? – If your MSP is being run right, your hiring managers shouldn’t have to spend much time talking to and screening unqualified candidates. If they are, you’re not getting everything you should be from your MSP.
  • Are candidates available when you need them?– The greatest candidates in the world are useless to you if you can’t have them when you need them. You can’t afford to put projects on hold or miss out on growth opportunities because your MSP couldn’t get you the right people at the right time. Even if your MSP is offering you low rates, those savings will be canceled out by higher costs such as the ones mentioned above.

The true value of an MSP lies in its ability to create a workforce that is flexible, responsive and easy to handle. Yes, it should save you money, but it also needs to give you great value for the money you do spend.

Do you have further questions about MSPs? You can contact Contemporary Staffing Solutions any time you’d like to know more about what an MSP can do for you!