Next-Gen MSP: Optimizing Contingent Talent Strategies
Who Is This Report For?
NelsonHall’s “Next-Gen MSP: Optimizing Contingent Talent Strategies” report is a comprehensive market assessment report designed for:
- Sourcing managers investigating sourcing developments within managed service programs (MSPs)
- HR decision makers exploring the benefits and inhibitors of MSPs as evidenced by the clients and vendor capability
- Vendor marketing, sales and business managers developing strategies to target BPO service opportunities within MSPs
- Financial analysts and investors specializing in the BPO sector, including MSPs.
Scope of the Report
The report analyzes the worldwide market for MSP and addresses the following questions:
- What is the market size and projected growth for the global MSP market by geography?
- What is the profile of activity in the global MSP market by industry sector?
- What are the top drivers for adoption of MSPs?
- What factors are inhibiting successful MSP partnerships with vendors?
- What combination of service models/services are typically provided within MSP contracts and what new service models/services are being added?
- What is the current pattern of delivery location used for MSP services and how is this changing?
- What are the challenges and success factors within MSP?
Key Findings & Highlights
NelsonHall's market analysis of the MSP industry and trends consists of 100 pages.
The MSP market is becoming as complicated as the RPO market, as organizations seeking MSP services demand more for their money (services and technology/tools) tailored to their specific needs (by geography, industry, skill set, organization size, etc.). In 2018, organizations face a wrath of challenges: the traditional PESTLE factors, with emphasis on social factors (finding and engaging with talent, skills shortages), technological factors (getting access to data, technology, and tools), and economic factors (global economic slowdown, budgetary cuts). These factors, coupled with the pace at which business circumstances can change, are leading more organizations to seek external expertise to help them navigate their business challenges.
Client organizations already embracing MSP are reaping the benefits: receiving support in attracting/retaining contingent talent, being 100% compliant (legally/regulatory), having visibility of all contingent talent (with no rogue or unforeseen spend); saving costs; and having better contingent worker data/insights.
MSP vendors are expected to offer their client organizations an evolving/improved range of services, efficient service delivery and the most appropriate technology/tools to improve the contingent hiring process. 2018 is seeing demand for sourcing expertise, compliance, technology/tools, data/contingent talent insights, and employer branding. With most vendors offering a similar portfolio of services, there is a greater need for MSP vendors to stand out from the crowd, and there are many examples of innovative practice (especially in sourcing and tech/tools).
Major inhibitors to successfully embracing MSP provision include: client organizations driving down cost so much that it damages the viability of MSP offerings and the advantages that MSP services can bring to those organizations, and clients’ resistance to change their approach to contingent hiring to meet candidate desires
Successful MSP requires: thinking outside the box in terms of engaging with and sourcing contingent talent;; educating client organizations of the difference between MSPs focused on cost (usually supplier funded) versus quality (client-funded) and their relative outcomes; MSP vendors to help their client organizations to navigate the legal/regulatory landscape to ensure 100% compliance; and MSP vendors and client organizations to work collaboratively to understand the changing talent acquisition landscape and approach talent acquisition in a new way to ensure quick wins in hiring contingent talent
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