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Blog

Selecting a Socially Responsible Workforce Managed Service Program Provider

Jan 16, 2020 4:08:21 PM

Frequently when responding to requests for proposals (RFP) for nextSource’s managed service program offerings, we encounter questions about “sustainability”. Typically, sustainability questions address the traditional notion of environmental issues/impacts, which are somewhat irrelevant when the offering is a service like managed services programs for sourcing human capital. However, there is a discussion to be had about the sustainability of labor MSP sourcing practices; one that involves examination of the “social conscience” of an organization and the extent to which a service provider delivers equitable sourcing methodologies and other interactions with the communities it serves. Here is what to look for when seeking an MSP partner with strong social conscience.

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Topics: Blog, MSP/VMS, Human Resources, Best Practices, Workforce Management

New Year Brings Raft of Regulatory Changes Impacting Contingent Workforce Management

Jan 10, 2020 1:02:39 PM

The New Year and new decade bring new changes to Labor Laws at both the Federal and individual states’ levels. For the busy contingent workforce manager, the changes can be very easy to miss, but the price for failing to stay abreast of laws and regulations makes it critical that they’re observed and understood. Today’s post will highlight a number of the more high-profile changes and underscore the benefits of partnering with a knowledgeable provider of effective supplier management and contingent workforce management solutions.

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Topics: Blog, MSP/VMS, Best Practices, Workforce Management, Independent contractors

What is an MSP and Who Needs One?

Dec 13, 2019 11:00:00 AM

Following our recent articles on “What is an EOR” and “What is an AOR”, it seemed relevant to produce this article to help define another contingent workforce management solution with an acronym name. This time, we’ll examine the general definition of the managed service program (MSP) provider, what MSP solutions are intended to address and what drives the need within an organization for MSP solutions.

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Topics: Blog, MSP/VMS, Human Resources, Workforce Management, Supplier Management, Technology, Strategic sourcing.

nextSource Blog Retrospective for October and November

Dec 6, 2019 10:12:44 AM

The nextSource Blog is your one-stop shop for incisive industry perspectives, best practices, innovative ideas and overall thought leadership on all things relevant to workforce management.  Today’s post will look back over the last few months of posts to provide a brief synopsis of all the hard-hitting and valuable content this blog has been producing consistently for years. 

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Topics: Blog, Statement of Work, MSP/VMS, Procurement Services, Workforce Management, Technology, Retail, Gig Economy, Retrospective

Why MSP/VMS Solution for Contingent Labor is a Necessity for More Organizations

Oct 15, 2019 6:18:15 PM

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.

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Topics: Blog, MSP/VMS, Cost savings, temporary staffing, Mid-market, Procurement

When Provider/Partners Fail – How to Avoid Being Caught in the Aftermath

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.

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Topics: Blog, MSP/VMS, EOR Services, Best Practices, Workforce Management, Gig Economy

Famous Last Words – Getting Workforce Management Ready for the Coming Economic Shock

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.

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Topics: Blog, MSP/VMS, Workforce Management

Potential Cost Savings for Contingent Workforce Programs – What Every CFO Needs to Know

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.

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Topics: Blog, MSP/VMS, Cost savings