Managing a workforce can be a daunting task for any organization, regardless of its size. From recruiting to onboarding, training, and performance management, there are many aspects to consider when building and maintaining an effective workforce. This is where MSP (Managed Service Provider) staffing services come into play. In this blog, we will discuss the benefits of MSP staffing services and how they can help streamline your workforce.
5 Benefits You Can Rely On When Working With a Strong and Experienced MSP
1. Access to a Large Talent Pool
One of the biggest advantages of MSP staffing services is access to a large talent pool. MSP staffing firms have extensive networks of job candidates, allowing them to quickly and efficiently identify and attract top talent to meet the needs of their clients. These candidates have already been screened and vetted, ensuring that only the best candidates are presented to the client. For example, according to the Staffing Industry Analysts, the MSP market grew by 16% in 2020, and this trend is expected to continue in the years to come. With more and more businesses opting for MSP staffing services, the talent pool available to clients will only continue to expand.
2. Reduced Time-to-Fill
Another benefit of MSP staffing services is reduced time-to-fill. Because MSP staffing firms have access to a large talent pool, they are able to quickly and efficiently identify and attract top talent to fill open positions. This means that clients can fill their open positions more quickly, reducing the time it takes to onboard new employees and get them up to speed. For example, according to the 2020 Talent Acquisition Benchmarking Report by the Society for Human Resource Management (SHRM), the average time-to-fill a position is 42 days. However, with the help of MSP staffing services, this time can be significantly reduced.
3. Increased Cost Savings
MSP staffing services can also help increase cost savings for clients. By outsourcing the recruitment and staffing process, clients can reduce their overhead costs and focus on their core business operations. MSP staffing firms also have the expertise and resources to negotiate better rates with staffing suppliers, ensuring that clients receive the best value for their money. For example, according to the 2020 Staffing Industry Benchmarking Report by Bullhorn, MSP programs are on average able to negotiate a 5.7% lower bill rate for staffing suppliers than non-MSP programs, resulting in significant cost savings for clients.
4. Improved Compliance and Risk Management
MSP staffing services can also help improve compliance and risk management for clients. MSP staffing firms have expertise in navigating the complex legal and regulatory landscape of staffing and can ensure that clients are compliant with all applicable laws and regulations. For example, according to a report by Staffing Industry Analysts, the MSP market in North America is expected to reach $170 billion by 2022, highlighting the importance of compliance and risk management for businesses that rely on staffing services.
5. Scalability and Flexibility
Finally, MSP staffing services can provide clients with scalability and flexibility. MSP staffing firms can quickly and easily scale up or down staffing levels as needed to meet the changing needs of their clients. This allows clients to adjust their workforce size based on demand, without the need to hire and train new employees. For example, according to a 2020 Talent Trends Report, 81% of employers plan to adopt a more flexible workforce strategy in the future, highlighting the growing need for scalability and flexibility in workforce management. In conclusion, MSP staffing services offer many benefits for organizations looking to streamline their workforce. From access to a large talent pool and reduced time-to-fill, to increased cost savings, improved compliance and risk management, and scalability and flexibility, MSP staffing services can help businesses meet their staffing needs more efficiently and effectively than ever before.
Looking For the Right MSP?
At Enterforce, we consult with our clients and potential clients to help them reach their company’s workforce goals. With our workforce and MSP solutions, we are able to bring our clients increased visibility into their hiring practices and analytics and help them standardize their workforce systems through rigorous training and standardization. Contact us today to learn more about any of the strategies and solutions above.
