If the last few years have taught us anything, it’s that when it comes to work in the 21st century, the same-old strategy is not going to get it done. The modern corporate workplace has gone through a staggering amount of change in the first three years of the new decade and the pace and volume of that change show very little sign of slowing down. Collaboration and partnerships are key and there may be more opportunity when it comes to workforce management than previously considered, particularly in the area of Managed Service Providers (MSPs) and utilization of a contingent workforce.
In the past, using contingent, contract, or gig workers was often viewed as a temporary solution to a challenge. Seasonal surges, rapid growth or global pandemics all might necessitate staff augmentation. However, a more advanced way of thinking is to see contingent labor more holistically, viewing it as a way to increase workforce agility and capability within the context of the entire workforce.
Organizations that overlook the MSP model as a potential solution risk falling behind. Brandon Hall Group™’s HCM Outlook 2023 study showed that 63% of organizations consider creating flexible work and new employment models to be one of the most important future-of-work initiatives. Seventy-three percent (73%) see hiring and onboarding new talent as among the most important people strategies.
The top six business priorities (as identified in the study) can all be positively impacted by leveraging an MSP partner and contingent talent community.
Platform-enabled integrated workforce management (IWM) allows forward-thinking organizations to have a diverse mix of worker types that can meet any type of challenge in the shortest amount of time by quickly assigning solutions (in the form of known skills) to problems.
Recently, Brandon Hall Group partnered with Magnit, a Silver SmartChoice™ Preferred Provider, on research into the new role for the Managed Service Provider in Human Capital Management. That research — 3 Ways an MSP Prepares Your Organization for the Future Workplace — uncovered, among other things, three ways the right MSP partner can help you prepare for the workplace of the future.
- Prepare You for Exponential Growth
With most high-performing organizations expected to increase their budget for contingent workers, an MSP can help you drive process efficiency, compliance, supplier optimization, and cost savings as you grow. An MSP partner will help you ensure the right people are available at the right time to meet business needs.
- Embrace a Holistic Approach to the Employee Experience
Many organizations are doubling down on worker experience but focusing only on the full-time worker. An MSP can elevate the contingent worker experience and help you develop a more unified approach (while addressing the unique needs of contingent workers).
- Increase Workforce Agility and Capability
With economic uncertainty and volatility, organizations need to be nimble and a contingent workforce can be key. Rather than viewing contingent workers as a short-term fix, an MSP can help organizations leverage business intelligence to engage them in a more strategic fashion. For example, a leading-edge MSP can deepen your understanding of the skills across your organization and the latest trends in your industry, driving smarter workforce planning that ensures you have the emerging skill sets your business needs at optimal pay rates.
The workplace of the future is rapidly becoming the workplace of the present. Businesses that are successful in the future will be no different from the individuals who are successful — they will have learned to work smarter, not harder. Leveraging the power of an MSP help organizations achieve just that, driving enhanced visibility into the extended (contingent) workforce, better decision-making and, ultimately, program optimization.
For more on how organizations are teaming with MSPs to give them a competitive edge with their contingent talent acquisition and management strategies, download the Brandon Hall Group report, “The New Role for the MSP in Human Capital Management.”