The expected workforce has grown rapidly over the past decade, and according to research by Ardent Partners, now averages 41.5 percent of the company’s average talent pool.
In fact, potential employees have increased nearly 2.5 times in the past decade, following the same research that included several key factors:
There are also many benefits that these employees can bring to your organization. But management comes with many challenges that need to be addressed properly.
What are the potential labor management challenges
Since labor is one of the biggest expenses for your business, it is natural for your organization to turn to potential employees for new ways of working.
However, the potential workforce management program is more than just hiring non-regular workers and withdrawing rewards.
In fact, it is unlikely that your organization will have the in-house expertise and knowledge to effectively implement a workforce management program.
This is because future workforce management programs are complex, time consuming, and require highly skilled managers who are well versed in potential job pools and management approaches.
Workforce management programs are required to improve your business in four key areas: quality, efficiency, cost and risk, and must manage / supervise everything from your recruitment process, onboarding process, supplier analysis, employees, invoices. And labor wage management program compliance. Reporting and more.
Ensuring your company gets the most from any potential workforce management program.
Successful programs have benefits such as access to top talent, improved benefits, more efficient processes, increased workforce agility, consistent non-employee recruitment processes across the board. Your organization and many more.
To gain access to these benefits, companies provide the necessary manpower programs to their managed service providers (MSPs), but what are the pros and cons of the most common third-party MSP program model?
1 – Distributor Neutral MSP
An MSP may be associated with a staffing supplier or completely independent. A truly independent MSP is not affiliated with any staffing activity (ie, does not engage in any recruitment activities). An MSP is considered absolutely neutral for vendors.
Vendor-neutral MSPs will ensure using a vendor management system that supports your specific labor objectives without having relationships with vendors, other service providers, or technology companies.
2 – Primary distributor / seller
The supplier / vendor MSP program will be collectively responsible for providing temporary staffing to the customer. All requests and orders are sent directly to the primary supplier, which can be refilled or delivered to the subcontract supplier.
3 – Hybrid Program
The hybrid program is a potential workforce management strategy, in which MSP incorporates a neutral and primary supplier sourcing model. This allows the organization to associate with a single provider for certain services. But there are many providers for others.
As it can work with many suppliers, offering competitive pricing will help your company reach competitive market rates.
Unlike the primary supplier model, this MSP program eliminates reliance on single-employee suppliers. This means that you have more flexibility if a supplier does not help you meet your employee goals.
The model is complex because it provides both recruitment and management services. This is more complex for your organization, and the MSP may have multiple teams working with your company.
Other managed service program responsibilities may be affected if the employee’s profit margins are highly focused.
To learn more about managed service provider programs and how they can benefit greatly from your organization’s workforce management strategy, contact HCMWorks today.