A managed services provider provides a single point of contact for all hiring managers to acquire contingent labour. The MSP streamlines the process, automates the requisition and offers support and guidance to the hiring manager.
Lower overall cost of hiring contingent staff while assuring supply and minimising risk are the key benefits of MSP - delivering them requires a comprehensive service package.
Here is what we believe should be on your checklist for assessing potential MSPs:
- Advises HR and TA managers on availability of talent by discipline, sector, seniority etc.
- Engages all forms of contingent labour according to client needs
- Builds qualified pools of candidates
- Leverages the power of your brand to acquire top talent
- Provides rate cards benchmarked to the market
- Streamlines the recruitment and selection process
- Manages contingent workers during their assignment from on-boarding to off-boarding
- Ensures "first day readiness"
- Reviews current supplier and contract structures
- Manages contracts
- Standardises of contractual terms and corporate policies in contracting
- Provides enterprise reporting and analysis for the programme
- Manages a selected supplier base in the following areas:
- Ensures a fair and equitable process for distributing requests to the approved suppliers and tracking results
- Facilitates initial and ongoing supplier training and on-boarding
- Ensures suppliers' adherence to background check policies and other client policies including local legislative requirements
- Verifies accurate billing from suppliers
- Ensures completion of IP/NDA documents for all assigned workers, whether directly sourced or sourced via suppliers
- Meets with suppliers when necessary as requested by you or any supplier
- Supplier scorecarding and metrics
- Manages staffing supplier invoices (where legally permitted) to include:
- Consolidated invoicing
- Supplier payment distribution
- Auditing of suppliers' billing
- Dispute resolution
- Adjustment processing
- Maintains a comprehensive quality management process, including formal and documented quarterly business reviews and annual strategic reviews of the programme
What differentiates M3S?
M3S offers a tailored MSP solution that can include all or some of the services listed above. Our offer forms an integrated contingent workforce solution, which brings to bear our programme management skills, proven and tested technology and our unrivalled understanding of the professional staffing recruitment market.
M3S' extensive knowledge of tax, labour legislation, and employment law means that we can offer our services in a wide range of countries across the globe.
Although we are open to considering any engagement, we specialise in medium-sized programmes of between 50 and 250 contractors under management, leveraging the heritage and brand values of Morgan McKinley as well as its technical infrastructure and sourcing capabilities - with access to more than six million contacts in the candidate database.
In all these respects we believe we are uniquely placed to offer you a high-touch and personalised service that truly reflects your brand, your position in the market and your value proposition.
How much can you expect to save with managed services recruitment?
The answer to that question is very much dependent on a number of variables but first generation savings can be as much as 10-20% depending on how much the client has leveraged its buying power in the past. Ongoing savings can run between 3% and 5% depending on the skills and the client.
Soft savings are harder to measure but just as real as hard savings. Aberdeen Group estimates that savings of up to 8% of programme spend can be achieved by implementing an MSP through effective process management and automation. Task transfer to Morgan McKinley can free up considerable amounts of time for the client's employees to focus on strategic "value add" activities.