Managed Services Program solutions exist in different ways and selecting the right model for your talent needs is an essential first step. The three primary models to consider are the Direct Sourcing MSP Model, Master Vendor Model and Vendor Neutral Model.  

In the Direct Sourcing MSP model, one provider manages the contingent workforce management and directly sources a percentage of the workers. The Master Vendor Model involves one provider who is responsible for sourcing and placing candidates. The provider is also responsible for the contract management and payrolling of the contingent workers, including invoicing.  In the Vendor Neutral Model, one provider manages the contingent workforce but via third-party agency suppliers who continue to payroll their own contractors. 

Managing a contingent workforce often means managing multiple talent vendors and agencies. A lack of clarity around the size of the contractor workforce, who is employed, how much they are paid or how long they have been employed opens risks around costs and employment claims. If this resonates, an MSP can provide the solution you need.

Acting as a centralized point of contact, your managed service provider can streamline vendor processes, consistent performance, and reduce costs while providing one source of truth. This frees up time for you to focus on your core business with clarity and better insights into your contingent workforce.

A managed services program provider takes care of your contingent workforce recruitment process, from recruitment of contractors to process optimization. Different models exist, and which one is right for you depends on your unique talent requirements and goals.