What is a Managed Service Program (MSP)?
It’s an efficient process to manage a large contingent workforce. When an organization engages a large number of temporary employees, they may be unprepared for the burdensome and complex task of managing them.
Often, companies have neither the technology nor the bandwidth to train, manage and assess these workers.
An MSP provides overall program management, reporting and tracking, supplier selection and management, order distribution and consolidated billing, allowing you to focus on your other priorities.
What can an MSP do for you?
MSPs streamline hiring processes and take on the administrative burden of talent acquisition and management. They also negotiate with sub vendors to get you a fair price. The MSP can manage your vendor base, acting as the liaison between you and your vendors at no cost to you.
You see it all – the MSP’s Vendor Management System (VMS) gives you easy, ongoing access to data that allows you to track spending, performance metrics, create reports and more. The VMS allows both the client and the MSP program manager to evaluate the performance of the sub vendors.
The MSP will leverage its network/relationships/grid of suppliers to guarantee you a larger, better talent pool at more competitive rates.
MSPs shoulder the responsibility of maintaining compliance. They use their expertise to mitigate the risks of hiring contingent labor. They can ensure that government requirements are met by all subvendors, including insurance regulations, Form I-9/E-Verify, drug screening, and background checks. They direct vendor productivity including finding new vendors and verifying certificates of insurance, when needed.
Where PEAK fits in
PEAK maintains a cadre of vendors to supply all disciplines throughout the United States. MSPs that partner with specialized staffing firms are able to fill positions with very specific requirements much quicker, with better-fit talent. We manage the process.
Your partner in success
The most successful MSP programs are those that partner with staffing agencies that understand the process, have experience with the system and understand the nuances in the MSP relationship. That’s where PEAK comes in – we have built a unique MSP process to alleviate the recruiting pain points that arise when recruiting talent. Custom designed for your needs.