Is Your Staffing Spending Out of Control?

How to manage your contingent labor, that is the question. Hiring needs can be cyclical. Sometimes you need employees with different specialties. Often it doesn’t make sense to hire full-time employees for short-term work.  To top it off, you’re working with multiple vendors and feel like your focus—along with your staffing and hiring budgets—is scattered.

Also, managing contingent labor and staffing vendors is not a core competency for most companies. Your HR department or even your procurement team may end up spending valuable time and resources on this non-core responsibility. This means you’re losing money and valuable man-hours.

Could it be time to consider a managed staffing program? And how can it help you save money?

A managed staffing program can:

  • Provide consistency in service, quality, pricing and terms. You pay one bill for all of the MSP’s services.
  • Produce up to 10% in soft-cost savings and efficiencies through the reduced administrative burden on procurement, human resources and management.
  • Provide visibility into your contingent labor spend, including whether you’re paying appropriate market rates for the level of talent you need.
  • Bring your staffing vendor usage, costs and processes into focus.
  • Create hard cost savings of between 10-15% by increasing hiring efficiency and improving time to fill by up to 20%.
  • Lower employment-related costs due to turnover.
  • Reduce overtime expenses.

With contingent labor making up as much as 25 percent of a company’s workforce, there’s a lot of value (and savings) to be gained from a well-managed, quality-based, contingent labor program – now and in the future. Staffing industry research indicates putting an MSP in place can save a client company up to 20% or more over the prior year’s spending for overall contingent staffing and placement fees.

If you’d like to know more about how a managed staffing program will help put money back in your company’s pockets, call or contact CSSvSource any time. We’d be happy to share some of our customer success stories with you!