What are the benefits of partnering with a Managed Service Provider?

Getting recruitment right can be tricky. Keeping up with the latest recruitment technology is costly, and continuously juggling the resources and staffing needed to monitor your contingent workforce’s performance requires significant time and effort—something many businesses simply do not have.

But by partnering with a Managed Service Provider (MSP), businesses can recruit and manage their contingent workforce more effectively, while freeing up important resources for other tasks. But what are the other benefits of working with an MSP?

What does an MSP do?

Think of a recruitment MSP as your contingent workforce manager. From advertising to interviewing and even helping to develop your employer value proposition or EDI strategy, an MSP focused on recruitment takes care of many of the trickier aspects of hiring and managing your temporary, part-time and freelance workforce. 

As recruitment experts, MSPs can offer businesses several value-adds. For example, they can shorten the time between posting a job advertisement and filling it due to their deep understanding of talent attraction methods. And, due to their cost structure, they can also offer predictability on spend when compared to the ongoing and unpredictable fees associated with posting job adverts across different sites and channels on an ongoing basis. 

Why are MSPs popular?

MSPs help businesses manage their contingent workforce demand and utilisation in a cost-effective, flexible, and agile way. On the one hand, the expertise and knowledge of MSPs means businesses benefit from smarter and more efficient recruitment. And even once new hires have joined your business, MSPs can also implement talent retention programmes to help your business retain your best people.

On the other hand, MSPs also offer an economical way of streamlining many of your recruitment processes. For instance, many MSPs will handle payroll administration and ensure that the recruitment process meets all the necessary auditing and compliance standards, letting your teams focus on other tasks.

They will use cutting-edge technology, like vendor management systems (VMS), so that businesses can easily track and monitor key aspects of their recruitment and fulfilment across a complex supplier network.

In other words, a large part of the popularity of recruitment MSP's is the expertise that businesses can benefit from. Businesses can rely on an MSP to work as a flexible extension of their existing teams, managing as much or as little of its recruitment as needed, freeing up time and resources for their HR and operations teams to focus on core business functions.