An MSP, Managed Service Provider, is a service for companies that wants help to procure the right talents to their company on a contingent base. But who really needs an MSP and what four challenges and problems can an MSP help you with?
An MSP has been used for many years when it comes to operations and IT-maintenance, especially by large companies that have several hundred freelancers on assignment. However, the service is getting a lot more popular at mid-size companies and when it comes to diverse types of assignment and competence.
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Four problems an MSP can help you with
So when should you consider an MSP talent service and what kind of challenges and problems can an MSP solve? Here are four challenges an MSP can help you with.1. Set a good recruitment process
First, an MSP can help with your recruitment process. Inefficient and expensive processes or even a lack of a process is a frequent problem many companies face. You might not have the right structure or the right knowledge, especially if your different departments are not working together. An MSP can help set a structure for your whole company, making sure you have the same procedure for all suppliers, taking control over your agency base. You also get control over what and when you pay your contingent workforce. An MSP also takes control over evaluating and keeping contact with all the freelancers that your company hires. This way your workforce can focus on their core business.2. Get the full picture
Since many companies operate each department separately it is not uncommon that there is no control over how many professionals or freelancers that are on assignment in the company. Many might not include them in a joint database and therefore contracts and other important papers might be scattered around in different computers or mail inboxes. This is not only a problem if someone leaves but makes it hard if you want to follow up on the work performed by your contingent workforce or to create a long-term relationship with certain freelancers. An MSP will make sure you have a complete picture of your contingent workforce and all the paperwork in one place. And give you the right tools to create a long-lasting relationship with the professionals.3. Help you meet high demands on cost- saving
Another common challenge is that there is a high demand for departments to save money. An MSP can help you make savings thanks to better overview and efficiency. If you hire your professionals without a process in the company the rates may vary a lot and it might be difficult to cut costs in one department. If you need to cut costs by 10 percent this might be a harder task if you lack the overview.
4. Keep up with laws and regulations
One big challenge is to keep up to date when it comes to laws and regulations. The laws and regulations may not be the same for employees as they are for the contingent workforce or people on assignment. And when it comes to hiring professionals in different markets it gets even more tricky. When you operate on a global level the need for expert help is often crucial, at least if you don’t have a big legal department that is on top of laws and regulations concerning contingent workforce.