The value of a Managed Service Provider (MSP) has rarely been as clear as it is today. With the Covid-19 pandemic changing the world of work beyond recognition, the talent supply chain must become more streamlined and flexible while also delivering cost-savings for tighter budgets. Managed Service Programmes are playing a crucial role in this period of adjustment, and in future-proofing workforce strategies.
Reliance on contingent talent is growing as agile workforce solutions become the go-to solution for meeting the peaks and troughs of demand that many sectors are facing. But with the compliant acquisition of contingent labour resources complex to say the least, the need for an expert MSP solution is critical.
In fact, we’re having more and more human capital conversations with global businesses that are looking at their talent acquisition and contingent worker management strategies now in order to future-proof their organisations.
So, as more HR and procurement teams turn to MSP solutions, here’s what data is needed to implement MSPs efficiently and get a great ROI on your organisation’s investment.
Invest in getting it right now to reap the rewards
Having gone through a rigorous approach to select an MSP and the technology platform - or VMS - needed to support the programme, the implementation process will need careful management to make sure it works for everyone.
Your MSP will completely guide you through the process and you should have an implementation team managing the roll out. In order to guide you through what to expect in the process, though, we have developed an essential guide to MSP implementation which outlines the most important steps.
One area in particular that can act as a barrier to success is data.
Data access: collating information from across the business
When it comes to data, it is often a case of the more you have, the better informed you’ll be. As HR and procurement teams are fully aware, though, when it comes to gathering information from every division in the company that is using contingent labour, a lack of centralised systems can often make the process an administrative headache.
There will be a need to collate the information from across HR, legal, procurement, accounts payable, hiring managers and any staffing suppliers so your MSP team can feed this into the VMS. But don’t stress, a good Managed Service Provider will assist with this process.
So, what data do you need for a successful MSP implementation?
Here are the main data points that businesses need to collate:
- Current worker classifications, which business areas they are deployed in and which locations fall within the scope of the MSP implementation
- Data sets containing lists of workers, suppliers and relevant business components (such as cost centres)
- A list of key stakeholders, timelines for contracts or projects and key milestones for each
- Geographic location data including name, address, unique business rules, labour disciplines involved and the details of any suppliers that are being used
- Integration points and names of any third-party applications
- Job template data, such as titles, descriptions and rates for the non-employed workforce
Much of this information will have already been gathered as part of the original request for proposal process. However, anything that wasn’t should be gathered swiftly as it’s likely to be dotted across the business and may take time to locate.
Having these conversations now will be hugely valuable. With most businesses likely to have experienced significant change in the last year, this planning will allow them to:
- better understand the state of their supplier relationships
- see how contract terms and rate cards have changed, and
- develop a clearer picture of where contingent spend is being directed.
Get the full MSP implementation guide
For more information on how to best set your business up for success, download our Essential guide to successful MSP implementation.