What Factors Do You Need to Consider While Connecting an MSP?
As per BLS (Bureau of Labor Statistics), in May 2017 report, 3.8 percent of workers were contingent. There is no doubt that this number is going to increase in the upcoming years. Are you planning to hire contingent labor?
Managing contingent workforce is a challenging task, therefore, it is always suggested to connect with an MSP. Managed Service Providers (MSP) are the experts who handle the entire process of placing a contract employee. They manage talent acquisition, screening, onboarding, compliance and offboard of the contract employees. An MSP could be your best partner in success if you choose the best one. Much before selecting an MSP (Managed Service Provider), you need to consider some factors to ensure that you are selecting a partner that you can rely on completely to achieve your staffing goals.Start with your requirements
You should start by understanding your requirements first. You need to know how many contingent employees you want and associated cost. Having all your numbers related to contingent labor will help you in selecting the right MSP. Here are the factors that you need to consider while connecting with an MSP: Once you are ready with your expectations from the MSP, these are the checklist for evaluating the selected MSPsIndustry Specialization
Wouldn’t be great if you connect with a staffing agency or MSP having expertise in filling the positions of your industry verticals? Yes, therefore, you need to ensure that MSP has the required industry specialization.Quick Turnaround Time /Order Fulfillment
When it comes to managing contingent labor, a quick turnaround is one of the most important factors. You want to fill vacant positions or get the job done in time. Therefore, you need to evaluate this factor. How can you check how fast MSP can fulfill your job order? You can ask them to share their job order fulfillment rate. Moreover, you can check some testimonials as well to verify the facts.Transparency
Transparency in the process is a vital determinant of success. Therefore, an MSP should be transparency in the entire process of managing contingent labor. You should have access to all relevant reports and data, screening process, validation, billing accuracy, compliance, etc.Compliance
If you are looking for a quality MSP, you wish to have the one that ensures agency follows all compliance and lawsuits related to the contingent workforce. Therefore, you need to evaluate the potential MSP on these compliance factors: Contract and audit compliance, Legally compliant and overall risk mitigation.Genuine Talent Pool
An MSP should have the right talent pool so that whenever you share your requirement, the agency can offer you the option. The ultimate objective of connecting with an MSP is getting the right talent at the right time. An agency having a pool of the right talent would be the best choice.Cost Savings
Not only finding the right talent should be your top priority but also keeping the contingent labor costs low. Therefore, you need to ensure that MSP helps you to manage your contingent labor costs.
The reason we are discussing these factors is the availability of several staffing agencies in the market. Not all but surely a few of them would match your criteria. It is not only having the right talent at the right time but building a long-term relationship.
Saxon Global, headquartered in Irving, has a reputation to consistently bridge the gap between the right job and the right talent. We provide a truly integrated onshore and offshore recruiting model that increases the volume and quality of candidates. With 3 India locations and 2 U.S. locations, we are recruiting around the clock to meet your needs. Our decades of experience catering to finding the right candidates for your IT and engineering needs.