In a recent post we explained our view of Recruitment Process Outsourcing (RPO). Another acronym that is widely used in the recruitment business, often without proper definition, is MSP – Managed Services Provider. It is often misunderstood because a key word is missing, namely contingent (i.e. non-permanent or temporary).
It is now a full 10 years since the financial crash of 2008 but the post-recession psyche not only persists, but has become ingrained for large swathes of the population. Our most recent research into consumer behaviour and attitudes revealed that 61% of UK consumers feel compelled to seek value. The “tightening the belt mindset” has become entrenched. For the majority, the search for value is not a choice but a necessity.
If you engage with a Managed Services Provider you will want to make sure you are getting maximum value and that the MSP is meeting or exceeding agreed targets. Here we outline the kind of key performance indicators (KPIs) that you should put in place. An MSP that has a passionate commitment to service will help you with the fine detail.
First, a brief summary of why you might want to appoint an MSP, because this determines what KPIs are appropriate.
Thursday 17 November 2016: New research into the Gender Pay Gap in Ireland carried out by Irish owned professional recruitment company Morgan McKinley, in collaboration with salary benchmarking specialist Emolument.com, has found that the average earnings gap in Ireland in 2016 stands at 20%. On average, men working in professional jobs earn €12,500 more than women when bonus and salary are taken into account. When the two are split, the average salary gap stands at 16% while the bonus gap goes up as high as 50%.
Talent pooling helps you to solve the problem of hiring the hardest-to-find talent. If you are committed to keeping talent acquisition in-house, but are continually driven by the need to hire significant volumes of candidates with business-critical skills, then talent pooling could be just what you are looking for. It involves engaging with professionals who are probably not currently looking for a job, but who should consider your organisation first when they are ready to make a move.
A managed services provider provides a single point of contact for all hiring managers to acquire contingent labour. The MSP streamlines the process, automates the requisition and offers support and guidance to the hiring manager.
Lower overall cost of hiring contingent staff while assuring supply and minimising risk are the key benefits of MSP - delivering them requires a comprehensive service package.
Here is what we believe should be on your checklist for assessing potential MSPs:
Screening is the process of checking a candidate’s eligibility for a particular role: an efficient way to reduce a stack of applications to those best qualified for the role. In a globalised job market, pre-screening establishes whether they have the right to live and work in a particular geographical jurisdiction and whether their language skills are good enough. Pre-screening also determines whether candidates have the essential qualifications and experience, and (for example) good communication skills.
If your organisation needs a constant stream of hard-to-find professionals, Talent Pooling provides the solution.
The battle to win top talent continues to intensify. Organisations that have an ongoing need to hire significant volumes of professionals with in-demand business-critical skills, such as actuaries, engineers, compliance officers or cyber security specialists, know this all too well. They are constantly in fire-fighting mode. And the consequence is that they often hire when it is too late, rather than when it matters most.
I am beginning to wonder is it with a small degree of envy that this term has been coined by an older generation?
Thinkhouse Youth Lab published a Youth Culture Uncovered report which outlines what today's 16 to 35 year-olds care about.