The Evolution of Contingent Workforce Management
The New Generation of Contingent Workforce Programs
Key Components of the New Generation MSP Model
- Program Governance and Best Practices: The MSP model should emphasize robust program governance and industry best practices. This ensures that organizations have a solid foundation for managing their contingent workforce effectively.
- Risk Controls: Managing risk is paramount in contingent workforce management. The MSP model integrates sophisticated risk controls to mitigate potential issues and protect the organization's interests.
- Enhanced Visibility: Visibility into performance is crucial for making informed decisions by providing enhanced visibility, offering insights into workforce data and analytics to drive continuous improvement.
- Cost Management: Effective cost management is a core component. It involves optimizing workforce spend while maintaining the highest standards of talent acquisition and management.
- Direct Sourcing: To attract and retain top talent, organizations need more than just a management solution. The new generation MSP model includes a service extension arm that can engage known talent, creating a holistic approach to workforce management.
Considerations for Revisiting Contingent Workforce Management
- Scalability: Ensure that your chosen MSP model can scale with your organization's changing needs and growth.
- Agility: The ability to adapt to evolving workforce trends and market conditions is critical.
- Technology Integration: Incorporate the right technology solutions to streamline processes, improve efficiency, and enhance the overall workforce experience.
- Total Talent Management: Embrace a holistic approach to talent management that accommodates various talent sourcing methods, worker types, and engagement types.