Recruitment MSP providers have been around for some time helping businesses manage their
contingent workforces much more than a decade ago. So, what really does an MSP offer that
makes it so effective? Well before we move to explain it, let’s start with what an MSP is.
An MSP is a third-party organisation that businesses outsource their contingent workforce
management responsibilities to. It streamlines the recruitment process, onboarding, and
management of a temporary workforce.
"Unlike most MSP’s, our Giant Precision platform allows organisations with any number of contractors to benefit
from a speedy implementation at no cost. So, if you have 5 or more contractors, we can help."
Let’s look at some benefits that MSP’s offer:
Cost transparency
A clear track of contractor spend is always a challenge for businesses and can hurt profits if overlooked or missed. With an MSP in place, you gain access to important data such as contractor spend, time to replace, manager satisfaction, etc. With all these metrics in place, businesses can spot cash outflows and all areas that the business will need to focus on to reduce costs, hence allowing them to make more informed decisions.
Core objectives
One major advantage of opting for an MSP is that it helps to generate an efficient workforce. Since the
administrative work is handled by the MSP provider, hiring managers, HR, and finance teams are not
overburdened and can focus on core revenue-generating business activities.
Compliance
Engaging contingent workers can mean increased risk and liabilities for businesses as there can be multiple suppliers in the supply chain. This leads to an increased risk of non-compliance if there is a lack of visibility to who is in the supply chain and the right compliance checks haven’t been completed. With an MSP in place, the provider will take responsibility for making these checks and ensuring that there is no room for rogue suppliers to operate in the supply chain. Partnering with an MSP means the organisation will be aware of local tax and labor laws, which will ensure maximum compliance.
Talent
Despite the growing unemployment, the demand for talent still outweighs the supply. An MSP can identify and rectify this issue by supply chain optimisation, enabling access to a variety of specialist recruitment suppliers as well as helping hirers deliver in-house recruitment more effectively and also develop talent pools.
Scale-up/down
Market conditions can change anytime and it’s important for businesses to respond in a timely manner. MSP works with a large-scale supplier base and hence can provide skills the current supply chain lacks when there are large spikes, and falls, in project demands.
