MSP in the digital age: from implementation to innovation

MSPs establish the foundational structures that empower contingent workforce programs. As programs develop, MSP’s should evolve from tactician to innovative strategist, transforming program excellence into real competitive advantage.  

Download our guide to MSP in the digital age here. 

The contingent workforce is increasing in size and importance. Not only is it the fastest growing segment of the US labour force post-recession, it’s a global trend.  

According to Deloitte, there are 77 million formally identified freelancers in India, Europe and the US. 40% of workers in the US are now employed in contingent, part-time or gig work — an increase of 36% in the past five years alone.  

Deloitte’s latest Global Human Capital Trends Survey showed 50% of businesses reported a significant number of contractors in their workforce. The tide is not just turning, it has already turned. 

Managed Service Provide (MSP) programs are widespread. Staffing industry Analysts (SIA) reports 63% of respondents in its US buyer survey use an MSP to manage their contingent workforce.  

Given this trend, it is critical a true MSP innovator makes the leap from implementation to innovation in order to uncover strategic opportunities to generate new and ongoing value for workforce management programs.  

Additionally, with a widespread talent shortage (especially in STEM professions), there is an increased focus on leveraging your MSP for a global total talent acquisition program.  

MSP in the digital age  

There is an evolving significance of managed services. MSP establish the foundational structures that empower contingent workforce programs. They implement procedures, manage technology and mitigate risk. They drive measurable and effective results.  

As programs develop, however, the MSP should evolve from tactician to innovative strategist, transforming program excellence into real competitive advantage.   

Taking your programs to the next level  

Some MSPs are great at implementing the basics, but fail to take their programs to the next level. This is true of internal, as well as externally managed MSPs.  

The MSP that fails to understand growing trends, and doesn’t innovate to meet them, cannot drive effective change.  

Insourced MSP programs start with industry best practices but can grow insular — losing pace with industry advances as workforce strategies continue to evolve to reflect the changing workforce of the digital age.  

If your MSP is not at the forefront of strategic initiatives, you will not be able to attract the best talent for your business. Your MSP should be a trusted advisor that spearheads transformational initiatives to reconfigure the value proposition of your contingent workforce program.  

Delivering MSP 2.0 

When your MSP is a true consultant and strategic partner, rather than a tactical solution provider, you open up opportunities for greater overall value generation — increasing your ability to successfully access the best talent in an increasingly competitive world of work.  

To find out how to take your MSP to the next level, download our guide here.