The 4 Cs of MSPs

Fact: Great partnerships begin with clarifying expectations.

Each side should know the expectations of the other. It’s true in personal relationships and business. So, the next time you find yourself looking for a contingent labor managed service provider (MSP), here are some things you should expect: Consolidation, Communication, Cost Control, and, of course, Continuous Improvement of expectations. These four pillars form the bedrock of a successful MSP relationship, guiding you toward mutual success.

>> Let's break them down together:

1. Consolidation

Suppliers

This is kind of the whole point of the MSP. Supplier consolidation. The suppliers to your business should have one place to go for their requisitions, questions, and feedback. Hiring managers should be able to spend their time investing in their teams rather than managing a supplier base. Your MSP should help you do that.

Technology

Technology will help you consolidate these suppliers. How does your MSP manage technology? Are there a bunch of different systems you use to manage your contingent labor program? An MSP should partner with you to find the best Vendor Management Software (VMS) for your business needs.

2. Communication

We've all heard it said - 'Communication is everything'. Managing the communication from the suppliers and hiring managers to make sure each is doing what they do best should be a top priority. Having fewer points of contact helps speed up the hiring process and should help destress your managers. MSPs also help facilitate feedback to the suppliers about their candidates, so that your supplier base can continue to find the talent you’re looking for.

3. Cost Control

When a contingent labor program isn’t centralized under an MSP you open yourself up to too. many. risks. Cost control is one of them. If you don’t have a bird’s eye view of all your worker’s pay and bill rates, you may be over or underpaying in certain markets and limiting your access to top talent based on compensation. The knowledge and data from your MSP program should help inform your program spend.

4. Continuous Improvement

MSPs should be SMEs on KPIs, PBOs, and SLAs. A lot of acronyms, right? Your MSP should work to simplify your program, help you be more efficient, and support your workforce goals. Always improving.

If you have found yourself struggling in one or more of these areas or are asking questions like:

>  How can we centralize our supplier base and technology?

>  Is there an MSP partner that can be more responsive than my current partner?

>  How can I manage my labor costs across my program?

>  What’s new in the contingent labor space?

Then let’s talk! >> Partnering with Populus Group for your MSP needs may be exactly what you need! And a bonus - by working with PG, you're also working with a Certified Minority- and Veteran-Owned business.

Fill out the form here and let’s chat!