If you want to build a compelling business case for embracing an MSP solution at your company, your first step should focus internally. Understanding the current state of your contingent staffing needs is essential, empowering you to craft a strong foundation of information that supports strong planning down the line.
Assessing your current status in the contingent staffing space is a prerequisite for developing a business case for an MSP solution.
Follow these three steps to properly assess your current contingent staffing process:
First and foremost, you need to identify and list every contingent worker that is supporting your organization today. This includes individuals in all of your locations as well as professionals who work remotely, an approach that is increasingly common but is not overly visible.
Look across all aspects of your business, scouring each department and team to locate these workers. Then, define each one and create a master list, allowing you to tally up your contingent workforce no matter where they are in your environment.
Once you know where your contingent workers are, you need to reach out to key functional areas and designate contacts for specific systems, including HR, procurement, sourcing, PMO, legal, finance, and information security. These individuals will help you gather critical information, such as classification data and a detailed listing of each worker’s responsibilities.
Record the person’s name, job category, geographic location, business unit, terms (1099, C2C), bill/pay rate, tenure, and SOW/PO details (title, scope, deliverables, start/end dates). You also want to determine whether a separation would disrupt a core business function – this helps to identify a base level for contingent staffing needs.
Once you have the classification data and responsibilities details, you can analyze your costs and assess your level of risk. Examine a variety of categories to determine where an MSP solution could provide cost-savings, risk reductions, or efficiency advantages that can positively impact your bottom line.
Effectively, you need to not just review your spending, but rationalize it. Determine if your costs are appropriate or if they could be lowered by taking the MSP approach. Similarly, look closely at your level of risk, particularly from a regulatory standpoint, and decide whether it would be mitigated by partnering with an MSP.
The goal is to create a value proposition regarding the use of an MSP solution. Compare your internal data against benchmark data from similar positions across the market, ensuring you have the outcome you need to make a wise business decision.
If you are interested in partnering with a leading MSP solutions provider during this process, the professionals at nTech can help you as you move forward. Contact us to speak with one of our contingent workforce assessment specialists and see how our industry expertise can streamline the process while ensuring that you achieve the accurate results you need to proceed with confidence.