Contingent labor as a spend category continues to grow and today represents a significant percentage of overall indirect spend for many organizations. According to Deloitte, some large enterprise organizations report spend focused on contingent workers equals the rest of their entire procurement spend! Many enterprise organizations have already determined that an MSP/VMS solution is critical to success when it comes to contingent workforce management. Yet the mid-market still labors with low adoption of these solutions. Here’s what the mid-market can learn from the hard-won wisdom of their enterprise-level counterparts about the necessity of MSP/VMS solutions for contingent labor procurement.
Oct 15, 2019 6:18:15 PM
Sep 20, 2019 3:27:25 PM
If a staffing company, payroller, EOR or other workforce management service provider serving your programs were to wind up in trouble with the law or suddenly become insolvent, it could spell big trouble for your operations. The most recent example of this catastrophic occurrence has affected numerous unfortunate organizations and reveals a risk to organizations relying on these provider/partners. Read on for details about this most recent example, along with a rundown of associated risks and what you can do to protect your contingent workforce management program from becoming a victim.
Aug 1, 2019 12:46:43 PM
“No one could have predicted…” This laughably obtuse statement is always uttered by those who should have known better, in the wake of catastrophes that could have been easily avoided if those same people had paid heed to the obvious warning signs leading up to the disaster. Today, the US likely stands at the precipice of a major economic downturn according to the people whose job it is to watch the cycles and patterns in economic activity and smart organizations are paying heed to these warnings by preparing talent strategies to weather the coming storm. Here’s the evidence offered in support of this dire prediction and some of the strategies being prepared to weather it.
Jul 18, 2019 3:11:59 PM
CFOs typically weigh the potential for cost savings heavily when deciding whether investment into new services and technologies makes sense for their organization. When it comes to deciding whether or not to invest in managed services programs (MSP) for contingent workforce management, it is critical that a CFO consider both the hard and soft cost savings that are commonly captured through outsourcing a non-core business function to a provider with specialized expertise in the relevant processes. Here’s a basic explanation of how both the hard and soft savings are captured in significant measure by engaging an MSP for contingent workforce management.
VMS? MSP? Which Solution is Best for Me? Part Three of a Three Part Series | Which Solution Should Be Deployed First?
Jun 13, 2019 12:21:22 PM
This is something of a “chicken or the egg” scenario – deciding whether an organization should embark first on a project to implement a vendor management system (VMS) tech platform or engage a managed services program (MSP) partner. In this third and final installment of the series, after having explored the benefits and challenges of both solutions, we’ll provide some insight on the proper order of operations. MSP first or VMS?
Jun 6, 2019 1:53:37 PM
In part I, we examined how to determine whether your company/organization is a good candidate for a VMS solution. This installment will take a similar look at whether your company is a good match for a managed services program for contingent workforce management. Here are a number of crucial questions to ask about your existing operations before deciding to deploy an MSP solution.
May 30, 2019 2:04:53 PM
Back in March, we published a post on the Top Four Considerations for Successful VMS Implementations. In the wake of that article, we were peppered with questions from prospective customers regarding how they can be certain that a VMS-only solution (a solution that does not incorporate an MSP) is the right prescription for their organization to manage their contingent workforce. After all, it makes sense to be sure the VMS is the right action before you consider what’s required to ensure a successful implementation. So here is some valuable perspective on how to determine if your company/organization is a good candidate for VMS-only solutions.
May 22, 2019 4:07:48 PM
With available talent scarce and staffing suppliers working harder than ever to source good workers in a low unemployment environment, the perennial question for workforce managers remains pertinent. How does one develop the best supplier partnerships to drive the greatest value and return? And how can an MSP help ensure your program is a priority for their staffing partners when those partners are being pulled in so many directions?