When facing any growth and expansion, businesses frequently need to increase their temporary workforce across a variety of occupations quickly.
This can be a tricky balancing act, especially if your firm has seasonal or variable staffing requirements. How do you find and manage a pool of suitably qualified personnel from which to tap on an on-demand basis? Plus, how do you run the whole process in a compliant manner?
Many businesses have uses for non-permanent consultants, contractors, and freelancers to meet changing demand. There are a million reasons that companies need to find and manage temporary workers. One of the most cost-effective and flexible solutions is to partner with a Managed Services Provider (MSP) like The Planet Group, which handles the end-to-end recruitment process for the contingent workforce.
HERE’S WHY MANAGED SERVICES PROVIDERS ARE KEY
Hiring an MSP partner is a smart business decision that can be immensely beneficial to the development of an organization.
COST EFFECTIVENESS
Businesses that manage their on-demand staffing requirements internally usually deal with unexpected additional costs related to time, compliance, supply chain management, and more. Before they know it, they’ve spent far too many resources recruiting and managing their contingent workforce. Overspending is a significant setback to organizations that preferably run on a tight, well-controlled budget.
It’s commonly estimated that working with an MSP provider saves between 10-20% in initial ‘first-generation’ savings. This amount often increases 5-10% over time as your hiring or HR team experiences compound soft savings and efficiencies.
The Planet Group offers customized managed services programs to facilitate your contingent hiring imperatives. Our expert team of consultants and advisors help with:
- Reducing hard costs
- Identifying opportunities for soft savings
- Reviewing and optimizing contract structures
- Negotiating rates with suppliers
- Managing staffing invoices and contracts
- Ensuring compliance
- Managing the entire lifecycle of the contingent workforce, from sourcing to screening, contracting, and offboarding.
TOTAL COMPLIANCE AND RISK MITIGATION
Imagine this: you’re managing a contingent workforce that is expanding in scope and crosses multiple states and countries. It is essential to know compliance standards regarding tax, labor regulation, contingent workforce legislation, and employment law in countries where you are doing business. You’re facing a higher risk of liability while handling a larger number of temporary employees.
Depending on your company’s bandwidth, outsourcing to an external provider may not only be your best option but your only option. Working with The Planet Group’s global MSP solutions can significantly mitigate the risk related to regulatory and internal compliance, including:
- Proper worker classification
- Tax management issues
- Local regulations in the U.S. and abroad
- Data protection policies
- Worker privacy compliance
- Suppliers and workers vetting process
VENDOR MANAGED NETWORK OF SUPPLIERS
For many employers, managing temporary workforce supply can be challenging, especially when dealing with their workforce network. From over 20 years of continuously expanding our global pipeline, The Planet Group has access to a vast network of third party staffing agencies and suppliers that we tap for the best and the brightest staff. We use vendor management systems to streamline the process for a top speed service.
It’s worth mentioning that hiring The Planet Group is advantageous towards monitoring the business climate and communicating with suppliers to adjust labor demands accordingly. Additionally, we track supplier performance metrics and provide employers with recommendations for improvement in areas with poorly performing contingent workforce suppliers.
STREAMLINED PROCESSES
One strong benefit of working with an MSP is streamlined employee sourcing, hiring, and management. Assuming the role of a central staffing conduit, The Planet Group will eliminate inefficiencies, boost productivity, and reduce the burden of supervision of both contractual employees and staff on your payroll. Thus, we improve overall employer satisfaction and the quality of the engaged workforce.
Some of our areas of expertise:
- Transparent acquisition processes
- Contingent workforce strategy
- Improved workflows
- Operational management (onboarding, timekeeping, invoicing, contract termination)
LOW RECRUITMENT AND ONBOARDING COSTS
Due to the streamlined and centralized approach of MSPs to workforce management, employers can enjoy a significant reduction in expenditure both during the recruitment process and over the entire duration of employee contracts.
An effective MSP will provide timely, cost-effective, and on-demand staffing solutions to the companies they partner with by scaling workforce supply to suit individual organizational needs during each time period.
At The Planet Group, businesses only pay for the right quality and quantity of staff they need based on properly calculated MSP predictive estimates. This reduces overall recruitment, onboarding, and labor costs.
ANALYTICS AND MEASURABLE ROI
Most companies don’t have the expertise or personnel to thoroughly collate, interpret, and analyze the potentially useful workforce-related data generated from the day-to-day running of a business. Partnering with an MSP provides access to business intelligence and results in critical insights regarding:
- Contingent workforce performance
- Spend analysis and budget forecast
- Cost control
- Efficiency issues and opportunities.
The Planet Group delivers an immediate return on investment by scaling down on-demand workforce recruitment and maintenance costs. Our bespoke programs allow us to promptly react to shifts in your staffing needs, whether due to seasonal requirements or as a result of growth or business acquisition.
WHY WORK WITH THE PLANET GROUP AS YOUR MSP?
Before you select an MSP, you must consider your organizational challenges and make sure the candidates understand and address those pain points before they present their solutions. Are your contingent talent needs placing an unnecessary burden on your HR department? Are the processes too complicated? Is managing the supply chain overly tedious? How does your contingent workforce spend compare to benchmarks in your industry? Are the costs exceeding the benefits?
At The Planet Group, we don’t believe in a cookie-cutter approach. Twenty years of experience working with hundreds of small, medium, and large businesses has sharpened our understanding of the difficulties that come with managing contingent personnel and equipped us with the means to overcome them.
We set ourselves apart from other Managed Services Providers by:
- Our impeccable track record
- Our workforce program custom features
- Our commitment to cost-effectiveness
- Our exclusive access to top contingent talent
- Our unique staffing brands that we use as a delivery engine
- Our subject matter expertise in multiple niche industries
- Our personal approach and emphasis on long-lasting relationships
We are dedicated to providing the best workforce solutions for organizations across a host of fast-growing industries worldwide. We pride ourselves in our ability to create a harmonious, long-lasting, and invaluable employer-employee relationship between the clients we work with to the talent we hire.
If you’re ready to learn what customized global workforce solutions The Planet Group can develop for you, click the button below for a no-obligation consultation call.