Talent Management Blog | Hear From Workforce Experts On Talent Management Strategy & Industry Trends | Broadleaf Results https://broadleafresults.com/blog/category/talent-acquisition-and-management/ Tue, 28 Jan 2025 17:19:04 +0000 en-US hourly 1 What is MSP? Managed Service Programs: Explained https://broadleafresults.com/blog/managed-service-programs/what-is-msp-managed-service-programs-explained/ https://broadleafresults.com/blog/managed-service-programs/what-is-msp-managed-service-programs-explained/#respond Mon, 27 Jan 2025 17:00:55 +0000 https://broadleafresults.com/?p=8617 By Joseph O’Shea Managed Service Programs (MSPs) have become a cornerstone in modern business operations, offering comprehensive solutions for managing contingent workforces. As we move into 2025, the importance and scope of MSPs continue to grow, providing businesses with strategic advantages in an increasingly complex and dynamic work environment.  MSPs are widely recognized as one...

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By Joseph O’Shea

Managed Service Programs (MSPs) have become a cornerstone in modern business operations, offering comprehensive solutions for managing contingent workforces. As we move into 2025, the importance and scope of MSPs continue to grow, providing businesses with strategic advantages in an increasingly complex and dynamic work environment. 

MSPs are widely recognized as one of the most prominent and impactful contingent (or indirect) labor service offerings in the workforce solutions industry. From streamlining processes to boosting efficiency, these programs have been embraced by organizations of all sizes. Whether you’re a multinational corporation or a mid-sized business, MSPs can help you manage your contingent workforce with ease and expertise.  

We’re here to help simplify the meaning of managed service programs and educate our potential clients on their many benefits. 

Definition and Scope of MSPs 

A managed service program (MSP) is a type of business process outsourcing (BPO) designed to manage an organization’s contingent workforce efficiently. By partnering with a specialized provider, businesses can offload the complexities of managing temporary workers and focus on their core operations. 

An MSP oversees the entire contingent labor lifecycle, including: 

  • Facilitating job requisitions 
  • Coordinating interviews 
  • Managing onboarding processes 
  • Handling invoices and payments 
  • Leveraging data and analytics to track trends and improve outcomes 

This end-to-end management not only simplifies the contingent labor process but also drives better outcomes, such as cost savings, enhanced compliance, and access to top talent. 

Who Benefits from Using an MSP? 

Organizations of all sizes and industries can benefit from implementing an MSP. Companies with sizable or diverse contingent workforces often find the most value, as MSPs streamline recruitment processes and provide access to high-quality talent pipelines. 

Key Benefits of MSP Adoption: 

  • Efficiency: Streamlines recruitment processes and vendor interactions. 
  • Talent Quality: Delivers a superior candidate pipeline of skilled professionals. 
  • Cost Control: Ensures competitive pricing and helps identify cost-saving opportunities. 
  • Compliance: Helps organizations stay compliant with labor laws and regulations. 

Related: [Video] Contingent Staffing 

Types of MSPs 

There are three primary MSP models commonly used today, each catering to different organizational needs: 

  • Vendor-Neutral: Frequently leveraged by non-manufacturing MSPs, vendor-neutral programs allow the client to post positions to an expansive network of staffing suppliers managed by the MSP. This model helps clients to receive and review candidates without branding or biases, ensuring the selection of the highest quality worker at competitive rates. 
  • Three-Party Relationship: This model is popular among manufacturing companies with high hiring volumes. It fosters collaboration between the client, MSP, and local suppliers, enabling swift responses to urgent needs and driving value in real-time recruitment scenarios. 
  • Master Vendor: The master vendor model can be utilized as an additional layer beneath the three-party relationship for client locations with a consistent need for similarly skilled contingent labor. Generally, companies that lean on master vendor programs maintain at least 50 contingent workers per worksite. This model can act as an extension of the MSP while partnering with the client to drive efficiency and enhance overall contingent labor performance. 

Related:MSP or MVP?: That is the Question 

Successfully implemented MSPs 

At Broadleaf, we’ve consistently delivered measurable results for our clients through tailored MSP solutions. For example: 

  • Cost Savings: Achieved over $1.7 million in savings for a client. 
  • Faster Hiring: Reduced time-to-fill by 31%. 
  • Seamless Collaboration: Maintained 100% supplier participation month-to-month. 
  • High-Volume Hiring: Delivered 400 contractor hires in just three months. 

These outcomes underscore the transformative potential of an MSP in driving compliance, visibility, cost control, and strategic workforce decision-making. 

Read more about the success of this engagement by checking out our case study. 

Why is an MSP right for my company? 

The evolving labor market demands agility, and an MSP equips your organization with the tools needed to thrive. By pairing your MSP with a vendor management system (VMS), you gain: 

  • Enhanced Visibility: Comprehensive oversight of contingent workforce operations. 
  • Data-Driven Decisions: Sophisticated analytics for informed strategies. 
  • Scalability: Seamless adaptation to shifting workforce needs. 

Did you know? Over 80% of companies with 1,000 or more employees now use a VMS to manage their contingent workforce. (Source: Simplify VMS). 

Related: Finding the Right Vendor Management System for Your Workforce Needs 

If you’re seeking robust talent pipelines, better cost efficiency, improved compliance, and actionable insights, an MSP might be the perfect solution for your business. 

Related:The Advantages of Integrating an MVP Into an MSP 

Interested in learning more about Broadleaf’s MSP solution? Follow us on LinkedIn or email us at info@broadleafresults.com to learn more about how managed service programs can benefit your business. 

Related: 7 Myths About MSP Programs 

Our Broadleaf Promise 

At Broadleaf, our mission is to deliver flexible, results-driven workforce solutions. Whether you’re navigating immediate hiring challenges or shaping a long-term recruitment strategy, we’ll collaborate with your team to create a customized MSP solution that aligns with your goals. 

For more workforce advice, be sure to visit our Broadleaf blog. 

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8 Steps for Building an Inclusive Workplace https://broadleafresults.com/blog/thought-leadership/8-steps-for-building-an-inclusive-workplace/ https://broadleafresults.com/blog/thought-leadership/8-steps-for-building-an-inclusive-workplace/#respond Mon, 25 Nov 2024 14:22:58 +0000 https://broadleafresults.com/?p=9462 Promoting an inclusive workplace is now essential for organizations worldwide. As businesses strive to welcome and value talent from diverse backgrounds, they must foster a culture where all employees feel respected and valued.  At Broadleaf, we have seen DEI initiatives become integral within many of our workforce programs. As a certified WBE through WBENC, we...

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Promoting an inclusive workplace is now essential for organizations worldwide. As businesses strive to welcome and value talent from diverse backgrounds, they must foster a culture where all employees feel respected and valued. 

At Broadleaf, we have seen DEI initiatives become integral within many of our workforce programs. As a certified WBE through WBENC, we understand the importance of creating opportunities not only for women and minority-owned businesses but also for women and minority candidates. Here are key ways to cultivate inclusive practices for your workforce. 

Supplier Diversity Programs: How to Get Started 

Form a DEI Council with Purpose and Accountability 

The impact of a DEI council lies in its structure and accountability. A successful DEI council should set clear objectives, establish a roadmap for action, and implement a feedback loop to evaluate progress. This council isn’t just a representative body; it’s an empowered one, with the authority to influence policies, recommend structural changes, and ensure DEI initiatives are truly embedded in company culture—not just stated. 

Poll Your Employees—Make Feedback Cyclical 

Employee feedback should be a two-way, cyclical process that demonstrates a genuine commitment to listening and improving. By regularly polling employees and acting on their input, you show that feedback isn’t just collected; it drives meaningful change. When employees see their voices actively shaping the organization, trust and engagement increase. 

Celebrate Cultural Diversity: Shift from Acknowledgment to Immersion 

Celebrating diversity goes beyond marking dates on a calendar. True cultural appreciation involves fostering empathy and understanding within the organization. Take the extra step by offering professional development in cultural competence, equipping employees to navigate diverse interactions with respect and empathy. 

Mentorship: Build Inclusive Networks, Not Mirrors 

A mentorship program should aim to expand perspectives rather than create comfort zones. By pairing employees from different backgrounds, you foster a culture of learning and growth. Through these mentorship opportunities, diverse perspectives are shared and valued, leading to mutual development. 

Anonymous Feedback: Turn Silence into Insight 

Silence can be a powerful call for change. By taking anonymous feedback seriously and transparently sharing the themes and actions taken to address it, you reinforce that every voice matters—whether spoken or silent. Publicly acknowledging this feedback builds credibility and reassures employees that they are heard, even anonymously. 

Spend Time in Your Community 

Volunteering in the community is a valuable way to foster connections, build empathy, and strengthen team bonds. Consider establishing a Volunteer Time Off (VTO) policy, which allows employees to support causes that matter to them while being paid. Not only does VTO bring teams together, but it also enriches your organization with insights about the surrounding cultures and communities. 

Get Executive Stakeholders and Influencers Involved 

For DEI initiatives to succeed, executive involvement is essential. When leaders actively support and promote diversity programs, these efforts resonate more deeply throughout the company. Make sure your organization’s DEI goals are clearly communicated to executive leadership to gain the sponsorship needed for real impact. 

Engage DEI Critics with Empathy and Data 

Turning DEI skeptics into allies requires empathy and data. Meet critics where they are, listening to their concerns while sharing compelling data that bridges gaps in understanding. This balanced approach fosters respect and openness, ultimately building a stronger foundation for your DEI efforts. 

Summary 

As organizations increasingly recognize the importance of DEI, they see benefits not only in talent attraction and retention but also in fostering a more ethical and inclusive workplace. By implementing these strategies with purpose, your organization can create an environment that uplifts all employees and drives lasting positive change. 

Looking to enhance your talent strategies and foster a more flexible approach to workforce management? Check out our latest E-Book, that explores the gig economy and workforce solutions in depth. 

 

This blog was authored by Joseph O’Shea

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Recap of RPOA Conference: Mental Fitness for Talent Acquisition Leaders https://broadleafresults.com/blog/talent-acquisition-and-management/recap-of-rpoa-conference-mental-fitness-for-talent-acquisition-leaders/ https://broadleafresults.com/blog/talent-acquisition-and-management/recap-of-rpoa-conference-mental-fitness-for-talent-acquisition-leaders/#respond Mon, 04 Nov 2024 17:00:39 +0000 https://broadleafresults.com/?p=13701 At the National RPOA Conference in Chicago earlier this month, Kristen Fox, Practice Leader of Coaching and Leadership Development at TalentRise, and Suzie Mitchell, Senior Vice President, Client Delivery at Broadleaf took the stage to dive deep into a game-changing concept: Mental Fitness for Talent Acquisition Leaders. Their session explored how today’s HR leaders, much...

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At the National RPOA Conference in Chicago earlier this month, Kristen Fox, Practice Leader of Coaching and Leadership Development at TalentRise, and Suzie Mitchell, Senior Vice President, Client Delivery at Broadleaf took the stage to dive deep into a game-changing concept: Mental Fitness for Talent Acquisition Leaders. Their session explored how today’s HR leaders, much like elite athletes, need to chart ambitious goals, remain focused, and perform at peak levels—every day is game day. 

The Critical Role of Mental Fitness in Leadership 

Kristen and Suzie emphasized that while building a strong organizational culture is essential, having a resilient and positive mindset is what sets top leaders apart. It’s the mental game that matters most. 

Drawing on the groundbreaking research of Shirzad Chamine, founder of Positive Intelligence, the session focused on how mental fitness can help HR leaders become more effective, navigate stress, and thrive amidst uncertainty. The ability to shift from a negative to a positive mindset, regardless of the challenges, was highlighted as a key component of leadership success. 

Mental Fitness: The Path to Positive Leadership 

Mental fitness is about building the capacity to approach life’s challenges with a positive mindset, rather than getting stuck in negativity. Kristen explained that this mindset helps leaders stay focused, creative, and empathetic, rather than being bogged down by negative emotions, which cloud judgment and stifle performance. 

Throughout the session, Kristen shared actionable tools and strategies to flex mental fitness muscles. Attendees learned how to recognize and manage their “saboteurs”—the self-sabotaging behaviors that limit their effectiveness. By acknowledging these mental traps, talent acquisition leaders can overcome them and lead with greater clarity and purpose. 

Disrupting the Learning & Development Industry 

The insights presented by Kristen and Suzie are part of a broader movement that is disrupting the traditional learning and development industry. Chamine’s research, which integrates findings from neuroscience, positive psychology, cognitive behavioral psychology, and performance science, is transforming how leaders are trained and developed. 

The mental fitness framework has already made a significant impact, with hundreds of CEOs, Stanford students, world-class athletes, and over 500,000 participants from 50 countries benefiting from these strategies. Kristen and Suzie’s session showed how talent acquisition leaders can apply these same principles to improve their own performance and that of their teams. 

Understanding and Managing Saboteurs 

One of the most impactful parts of the session was the focus on recognizing the ways we all self-sabotage. Kristen guided attendees through identifying their “saboteurs,” those inner critics or overplayed strengths that hold them back from peak performance. These saboteurs can often cloud a leader’s vision and prevent them from making the best decisions. 

By developing self-awareness and learning how to manage these saboteurs, leaders can break free from limiting patterns and cultivate a healthier, happier mindset that enhances both their personal well-being and professional effectiveness. 

Take the saboteur assessment 

Sage Perspective: Turning Challenges into Opportunities 

A key takeaway from the session was the “Sage Perspective,” which encourages leaders to view every circumstance as a potential gift or opportunity. This shift in mindset empowers leaders to approach even the most difficult challenges with curiosity, creativity, and focused action, rather than reacting with frustration or negativity. The ability to pivot from a negative emotional response to a positive, growth-oriented perspective is a hallmark of mentally fit leaders. 

Conclusion: Mental Fitness as a Leadership Superpower 

As talent acquisition leaders continue to navigate complex challenges, mental fitness offers a powerful advantage. Kristen and Suzie’s session highlighted how developing this skill is essential for leaders who want to perform at their best, support their teams, and create lasting, positive change within their organizations. 

In an industry often focused on metrics, processes, and strategies, it was a refreshing reminder that success starts from within. Mental fitness is the foundation that enables today’s HR leaders to approach their work with clarity, resilience, and a positive mindset that benefits not only them but everyone around them. 

The future of leadership may just lie in the ability to stay mentally fit, turning challenges into opportunities and leading with empathy and creativity. 

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Candidate Ghosting: What It Is, Why It Happens, and How to Prevent It https://broadleafresults.com/blog/talent-acquisition-and-management/candidate-ghosting-what-is-it-why-does-it-happen-and-how-can-you-prevent-it/ https://broadleafresults.com/blog/talent-acquisition-and-management/candidate-ghosting-what-is-it-why-does-it-happen-and-how-can-you-prevent-it/#respond Tue, 01 Oct 2024 06:45:19 +0000 https://broadleafresults.com/?p=9426 In today’s recruitment landscape, candidate ghosting has become a significant challenge for employers. Defined as the abrupt disappearance of a job candidate during the hiring process, ghosting can occur at various stages—from application submission to job acceptance.  Why Does Ghosting Happen?  A recent study found that 84 percent of job seekers have ghosted employers, and...

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In today’s recruitment landscape, candidate ghosting has become a significant challenge for employers. Defined as the abrupt disappearance of a job candidate during the hiring process, ghosting can occur at various stages—from application submission to job acceptance. 

Why Does Ghosting Happen? 

A recent study found that 84 percent of job seekers have ghosted employers, and 39 percent of businesses report a rise in ghosting over the past two years. So, why do candidates disappear? The reasons vary, but here are some common ones: 

  1. Salary Expectations: According to surveys, 29 percent of candidates ghost when the offered salary doesn’t meet their expectations. 
  2. Competing Offers: 28 percent of job seekers vanish because they receive more attractive offers elsewhere. 
  3. Job Mismatch: 27 percent of candidates ghost when the role’s responsibilities don’t match their initial understanding of the job. 
  4. Company Reputation: 26 percent cite negative reviews or poor company reputation as reasons for walking away. 
  5. Workplace Culture: 22 percent disappear when they sense the workplace culture may not be a good fit. 

Ghosting in a Candidate-Driven Market 

As the job market has shifted to a candidate-driven model, job seekers have become more selective about opportunities. Candidates today hold significant leverage and are willing to “ghost” if they don’t feel valued or engaged during the hiring process. The lack of human connection in an increasingly virtual recruitment landscape only exacerbates the issue, with candidates feeling less obligated to communicate with employers. 

How to Prevent Candidate Ghosting 

While ghosting may never be entirely avoidable, there are steps companies can take to reduce its occurrence: 

  1. Enhance Communication: Keeping candidates in the loop with frequent updates and transparent timelines builds trust and reduces uncertainty. 
  2. Set Clear Expectations: From job descriptions to interview timelines, outline every stage clearly. This minimizes misunderstandings and ensures candidates know what to expect. 
  3. Engage Candidates Personally: Get to know candidates beyond their resumes—learn their career goals and motivations. A personal connection makes it less likely that a candidate will vanish. 
  4. Broaden Communication Channels: Use various methods such as email, phone calls, and text messages to keep communication flowing. Some candidates may prefer specific platforms, so flexibility is key. 
  5. Shorten the Hiring Process: A long, drawn-out hiring process increases the likelihood that candidates will explore other opportunities. Aim for efficiency and swift decision-making. 
  6. Offer Competitive Compensation: Do your market research to ensure your salary offerings align with industry standards and candidate expectations. 
  7. Follow Up Quickly: Whether after a screening, interview, or job offer, quick follow-ups keep candidates engaged and show that your company values their time and interest. 

The Bottom Line 

Ghosting is a growing trend in recruitment, particularly in a competitive, candidate-driven market. While it’s impossible to eliminate ghosting entirely, companies can reduce its frequency by focusing on clear communication, efficient processes, and competitive offers. By adopting these strategies, employers can improve candidate engagement, reduce drop-offs, and make their hiring process more resilient to the impacts of ghosting. 

If your company is struggling with candidate ghosting, it’s time to rethink your approach and fine-tune your recruitment process for 2024 and beyond. 

This blog was written by Broadleaf’s Vice President of Client Delivery, Joseph O’Shea. 

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Supplier Diversity Programs: How to Get Started https://broadleafresults.com/blog/thought-leadership/supplier-diversity-programs-get-started/ https://broadleafresults.com/blog/thought-leadership/supplier-diversity-programs-get-started/#respond Mon, 23 Sep 2024 14:45:16 +0000 https://broadleafresults.com/?p=3191 Strengthening your supplier diversity efforts requires more than just outreach—it’s about making a proactive investment in building capacity within diverse supplier communities. By fostering innovation, mentorship, and networking opportunities, you’re supporting growth for both your organization and these suppliers. Here’s how to take meaningful steps toward creating a sustainable, mutually beneficial ecosystem.  Be Proactive and...

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Strengthening your supplier diversity efforts requires more than just outreach—it’s about making a proactive investment in building capacity within diverse supplier communities. By fostering innovation, mentorship, and networking opportunities, you’re supporting growth for both your organization and these suppliers. Here’s how to take meaningful steps toward creating a sustainable, mutually beneficial ecosystem. 

  1. Be Proactive and Invest in Capacity Building

Most of us understand the importance of diversity in promoting a balanced society, and forward-thinking businesses apply this principle in the workplace. However, connecting buyers with minority-owned suppliers continues to be a challenge. To overcome this, proactive strategies are essential—ones that go beyond initial outreach. 

Supplier diversity should be seen as a long-term investment. By creating mentorship programs, hosting networking events, and encouraging innovation, you’re cultivating a diverse supply chain that drives mutual growth. Here are some actionable steps you can take: 

  • Mentorship Programs: Establish mentorship initiatives where your team can provide guidance to minority-owned suppliers, helping them scale their businesses and enhance their capabilities. This could include financial training, procurement processes, or operational advice. 
  • Supplier Development: Offer opportunities for diverse suppliers to innovate through research grants, technology transfers, or product development partnerships. Supporting innovation strengthens their position in the market and can introduce new ideas to your organization. 
  • Supplier Networking Events: Organize or sponsor networking events that bring together diverse suppliers, corporate procurement teams, and other key stakeholders. Facilitating these connections can lead to valuable partnerships and foster an ecosystem where everyone benefits from shared knowledge. 

Here are some resources to help with outreach, though ongoing support and engagement are key to driving long-term success: 

  • Minority-Owned Businesses: Connect with the National Minority Supplier Development Council (NMSDC) or their local affiliates to find and collaborate with certified minority-owned suppliers. 
  • LGBTQ-Owned Businesses: Explore LGBTQ Supplier Diversity Programs through resources such as the Human Rights Campaign. Providing ongoing mentorship or sponsorship at community events can also strengthen ties. 
  • Veteran-Owned Businesses: Partner with the Coalition for Veteran Owned Business to engage and support veteran-owned suppliers. Offering business development training and advice can be particularly beneficial. 
  • Women-Owned Businesses: Connect with WBENC-certified suppliers or work with organizations like Sigma Supply of North America. Consider creating accelerator programs specifically for women-owned businesses to boost their growth potential. 

By taking these proactive steps, you’re not only diversifying your supplier base but also contributing to the economic empowerment of these communities, which enhances the innovation and resilience of your own supply chain. 

  1. Know Your History and Take Proactive Steps for Long-Term Supplier Diversity Success

Diversifying your procurement network is not just a box to check—it’s a strategic initiative that drives innovation, resilience, and competitive advantage. To truly support a supplier diversity program, business leaders must understand the historical and economic context behind these efforts. A deeper grasp of the history behind supplier diversity leads to more meaningful and lasting impacts. 

Here are key strategies to build an impactful supplier diversity program: 

  • Host Supplier Diversity Fairs: Organize events where underrepresented suppliers can showcase their products and services, meet procurement professionals, and network with decision-makers. These fairs foster direct engagement between diverse suppliers and potential buyers, increasing visibility and building relationships. 
  • Sponsor Training and Development Programs: Provide training programs that help diverse suppliers improve their business acumen, operational efficiency, and competitiveness. By sponsoring such initiatives, you ensure that suppliers have the tools they need to grow and thrive in the long term. 
  • Leverage Technology to Find Underrepresented Suppliers: Use digital platforms and supplier databases to identify and connect with minority-, LGBTQ-, veteran-, and women-owned businesses. Technology can streamline the process of sourcing diverse suppliers, enabling you to broaden your network and uncover hidden talent in underrepresented communities. 

Building Pipelines: Mentorship and Upskilling 

A crucial part of a successful supplier diversity strategy is ensuring that diverse suppliers are not just one-time partners, but long-term contributors to your supply chain. To ensure sustainability and competitiveness, businesses should: 

  • Mentor Diverse Suppliers: Establish mentorship programs where experienced professionals from your company guide diverse suppliers, helping them navigate procurement processes and scale operations. 
  • Upskill and Develop Suppliers: Partner with diverse suppliers to offer targeted training in areas such as finance, marketing, logistics, or technology. Upskilling ensures that diverse suppliers can compete at higher levels and continue to grow within your supply chain. 

Why Supplier Diversity is a Strategic Imperative 

Understanding the historical context of supplier diversity is essential to appreciating its strategic value. Supplier diversity initiatives arose from efforts to address systemic inequities and create opportunities for underrepresented groups in business. Today, these programs are not just about social responsibility; they’re a business imperative that supports innovation, resilience, and market differentiation. 

Companies that actively engage in supplier diversity are better positioned to: 

  • Adapt to changing market demands with innovative solutions from diverse perspectives. 
  • Build more resilient supply chains by reducing dependence on a limited pool of suppliers. 
  • Strengthen relationships with diverse communities, which can lead to greater brand loyalty and market share. 

To dive deeper into the historical significance of supplier diversity and how it can enhance your business strategy, check out educational resources from the National Minority Supplier Development Council (NMSDC). Their videos and materials provide valuable insights into the evolution of supplier diversity and its role in building a competitive, inclusive marketplace. 

By understanding the history and taking proactive steps to build pipelines, business leaders can ensure that their supplier diversity efforts aren’t just reactive measures, but part of a sustainable and strategic growth plan. 

  1. Build for the Future: Metrics, Accountability, and Long-Term Commitment to Supplier Diversity

Diverse suppliers don’t need to comprise 100 percent of your supplier network, but they should be an integral part of your overall supplier strategy. To build for the future, your supplier diversity program must align with your sustainability, Environmental, Social, and Governance (ESG) commitments, and include clear goals, transparent metrics, and leadership accountability. 

Set Concrete Goals and Benchmarks 

Establish benchmarks to measure and guide your supplier diversity efforts. Analyze your current diversity spend and set realistic yet ambitious goals for the future. For example: 

  • Diversity Spend Today: What percentage of your current spend is with diverse suppliers? Knowing your baseline will allow you to track progress over time. 
  • Short- and Long-Term Goals: What is your supplier diversity goal for 2024? How about three to five years from now? Ensure these goals are ambitious but achievable, with incremental milestones to keep your company accountable. 

Track Key Metrics for Accountability 

To build a robust and sustainable supplier diversity program, tracking specific metrics is crucial. These metrics not only provide insights into your progress but also hold your leadership accountable for meeting diversity objectives. Key metrics to track include: 

  • Percentage of Spend with Diverse Suppliers: Regularly track and report the percentage of your total procurement spend allocated to minority-, LGBTQ-, veteran-, and women-owned businesses. Set incremental targets to gradually increase this percentage. 
  • Supplier Retention Rates: It’s not enough to onboard diverse suppliers—you need to ensure long-term partnerships. Track retention rates to measure how many diverse suppliers continue to work with your organization year after year. Retention shows that you’re providing value and fostering sustainable relationships. 
  • Economic Impact: Measure the broader economic impact of your supplier diversity efforts. This could include tracking how many jobs have been created within diverse supplier businesses, the revenue growth they’ve experienced due to your partnerships, or the economic benefit to the communities they represent. 

Embed Supplier Diversity into ESG and Corporate Responsibility Reporting 

As companies become more focused on sustainability and ESG goals, supplier diversity should be an integral part of these initiatives. Make supplier diversity part of your corporate responsibility reporting to ensure transparency and accountability. Publicly reporting your progress demonstrates your commitment to inclusion and social impact, while also allowing external stakeholders to monitor your achievements. 

  • Annual Reporting: Include supplier diversity metrics in your annual sustainability and ESG reports. Highlight your progress toward diversity goals, any challenges you’ve faced, and the impact your efforts have had on underrepresented communities. 
  • Leadership Accountability: Hold senior leaders accountable for achieving supplier diversity goals. Tying diversity progress to executive performance evaluations and compensation can further reinforce the importance of these initiatives. 

Partner with Local Diversity Groups 

One of the best ways to meet your supplier diversity goals is to collaborate with local diversity groups and advocacy organizations. These groups can help you source diverse suppliers in your region and provide access to a network of businesses that may otherwise be difficult to find. Additionally, consider forming partnerships with organizations that focus on mentorship and development for diverse suppliers. 

According to a supplier diversity report by The Hackett Group, successful companies are those that “develop supplier partnerships, mentor local suppliers, collaborate with suppliers on product innovation, and share their experiences with other companies.” By actively engaging in these practices, you’ll ensure that your supplier diversity efforts are not only effective but also deeply embedded in the communities you serve. 

Building for the future requires more than good intentions; it demands concrete action, measurable progress, and accountability. By establishing clear goals, tracking key metrics, embedding supplier diversity into your ESG commitments, and fostering meaningful partnerships, you can create a sustainable supplier diversity program that drives long-term value for your organization and the communities you support. 

  1. Remain Patient and Committed: Leadership and Collaboration Drive Supplier Diversity Success

Cultural change doesn’t happen overnight, and supplier diversity is no exception. Leadership accountability and cross-functional collaboration are key to making meaningful progress. Supplier diversity must be ingrained in corporate culture, with executives leading the charge and all departments working together to achieve diversity goals. 

Leadership Accountability 

Executive leadership plays a pivotal role in embedding supplier diversity into the fabric of your business. Leaders should set the tone by integrating supplier diversity into long-term business objectives and ensuring these efforts align with the company’s overall mission. To foster a culture of inclusion, leaders can: 

  • Tie Diversity Efforts to Business Goals: Supplier diversity should not be treated as a separate initiative but as part of your company’s broader strategy. Link supplier diversity to revenue growth, innovation, and risk management to ensure it becomes a core part of business planning. 
  • Lead by Example: Executives must champion supplier diversity efforts, setting clear expectations for the entire organization. Leadership accountability ensures that diversity goals are priorities and progress is regularly evaluated. 

Cross-Functional Collaboration 

Supplier diversity programs thrive when all departments work in harmony. From procurement to finance and marketing, collaboration ensures that diversity goals are met across the business. Strategies to promote collaboration include: 

  • Diversity Council Meetings: Regularly scheduled meetings with a cross-functional diversity council help maintain focus on supplier diversity goals. These meetings provide a forum for tracking progress, sharing insights, and aligning on next steps. 
  • Frequent Progress Updates: Transparent communication and frequent progress reports keep everyone in the loop, fostering accountability at all levels. Regular updates ensure that momentum is maintained and that any challenges can be quickly addressed. 

The Role of Technology in Advancing Supplier Diversity 

Supplier diversity can also benefit significantly from technology-driven innovations. Tools like AI and advanced procurement platforms streamline the process of discovering, assessing, and managing diverse suppliers. Here’s how technology can elevate your supplier diversity efforts: 

  • AI-Powered Supplier Discovery: Use AI-driven platforms to identify underrepresented suppliers and assess their qualifications efficiently. These tools can analyze supplier databases, offering new insights and enabling you to uncover diverse businesses you might otherwise miss. 
  • Relationship Management Tools: Leverage technology to manage supplier relationships with a focus on mutual growth. Platforms that track supplier performance, growth potential, and alignment with your diversity goals can help maintain and strengthen these partnerships. 
  • Data-Driven Insights: Technology provides valuable data for tracking progress, assessing the effectiveness of your supplier diversity efforts, and identifying areas for improvement. With clear insights, leadership can make informed decisions and refine strategies. 

Stay Focused for Long-Term Change 

Patience combined with leadership and collaboration drives real change. A supplier diversity program that is consistently championed by executives and supported across departments is more likely to succeed. While the process may take time, the commitment to fostering an inclusive culture will yield long-term benefits for both the company and its partners. 

With decades of experience in helping organizations achieve supplier diversity goals, Broadleaf can assist you in building a sustainable, inclusive supplier base. Ready to get started? Contact us today! 

This blog was authored by Joseph O’Shea, Vice President of Client Delivery. 

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Finding the Right Vendor Management System for Your Workforce Needs https://broadleafresults.com/blog/vendor-management-system/finding-the-right-vendor-management-system-for-your-workforce-needs/ https://broadleafresults.com/blog/vendor-management-system/finding-the-right-vendor-management-system-for-your-workforce-needs/#respond Mon, 09 Sep 2024 18:20:08 +0000 https://broadleafresults.com/?p=9268 The global contingent workforce management market is expected to reach $465.2 billion by 2031. Utilizing the right vendor management system (VMS) can make a meaningful difference in the efficacy of your contingent workforce program. As technology within the industry has continued to evolve in recent years, today’s VMS platforms are integrated with functionalities that can...

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The global contingent workforce management market is expected to reach $465.2 billion by 2031. Utilizing the right vendor management system (VMS) can make a meaningful difference in the efficacy of your contingent workforce program. As technology within the industry has continued to evolve in recent years, today’s VMS platforms are integrated with functionalities that can remove many pain points and complexities from overall talent management. Not only can vendor management systems facilitate critical applicant tracking, hiring, and onboarding efforts, but they can also support timekeeping, compliance, and data-driven decision-making. 

Our team at Broadleaf understands that selecting the right VMS platform is critical to supporting your labor needs and bringing value to your workforce. From system flexibility and compliance management to analytics and integrations with existing platforms, several factors will play into your final decision. 

To help educate your business on selecting the proper VMS for your workforce needs, we developed a list of the top third-party platforms on the market. Here are our findings in alphabetical order: 

Beeline 

The Global Workforce Intelligence Platform from Beeline is an efficient and effective way to manage your contingent workforce programs. Featuring a well-organized task-driven dashboard, utilization of business intelligence software, and ability to integrate with over 100 technology partners, Beeline is well-positioned as a top VMS provider. Plus, your organization will be well-positioned to drive efficient workflow with its top-rated user experience—that’s simple to navigate with a well-defined support model—and rapid deployment capabilities. Learn more at beeline.com. 

Elevate 

Elevate is a modern talent-focused workforce management and VMS platform bringing an enhanced focus on lifting talent quality and program excellence above and beyond the transactional oriented VMS platforms of today. The platform is built for middle-market and up buyers of external talent/SOW services and MSPs servicing their customers who are challenged with attracting and retaining high quality contingent talent. Customers are either establishing their first-generation programs and looking for innovative technology platforms or evolving to their second-generation programs and upgrading from their older, legacy VMS platforms. Learn more at elevatesaas.com. 

SAP Fieldglass 

As companies scale up their workforces worldwide, they need a contingent workforce management system to keep pace with their needs. SAP Fieldglass’s VMS platform can help businesses to initiate, engage, manage, and complete their contingent workforces through its CWM 360-degree solution while incorporating flexible workflows to drive oversight and compliance. Leverage machine learning tools to identify candidates, ensure full compliance with local labor laws, and save on external expenditures by cutting down on rogue and maverick spend. Learn more at fieldglass.com. 

Workday VNDLY 

With the acquisition by Workday, VNDLY has a strong, continued commitment to developing and evolving its VMS platform. One of the most modern cloud-based VMS technologies on the market today, Workday VNDLY’s system makes the talent management process easy and efficient for contingent workers and suppliers. Companies can configure pre-made job templates, evaluate talent pools, establish pre-onboarding compliance checklists, and generate standard or custom reports. Workday VNDLY’s easy-to-use yet robust VMS platform can be configured to align with changing program needs. Plus, valuable API integrations like ServiceNow and Okta enable customers to reap the benefits of a fully integrated technology ecosystem that efficiently moves data among departments. Learn more at workday.com. 

Interested in working with the Broadleaf team to select a best-fit vendor management system for your organization? Contact us today to learn how we can evaluate all VMS options with your HR and procurement teams.

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Webinar Recap: The Future of Contingent Labor https://broadleafresults.com/blog/talent-acquisition-and-management/webinar-recap-the-future-of-contingent-labor/ https://broadleafresults.com/blog/talent-acquisition-and-management/webinar-recap-the-future-of-contingent-labor/#respond Mon, 26 Aug 2024 15:23:49 +0000 https://broadleafresults.com/?p=13120 Contingent labor continues to evolve, with stabilization in some areas and uncertainty in others. Broadleaf’s Vice President of Client Delivery Joseph O’Shea recently joined a virtual panel to discuss emerging trends, challenges, and opportunities across the industry. In case you couldn’t catch the webinar live, we’re sharing some of the key insights and takeaways. You...

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Contingent labor continues to evolve, with stabilization in some areas and uncertainty in others. Broadleaf’s Vice President of Client Delivery Joseph O’Shea recently joined a virtual panel to discuss emerging trends, challenges, and opportunities across the industry. In case you couldn’t catch the webinar live, we’re sharing some of the key insights and takeaways. You can also view a recording of the full webinar here. 

Steady Demand in Key Sectors 

Panelists noted that demand for contingent labor in the tech industry—particularly in areas like software development, cybersecurity, and AI—has been on the upswing. Tech’s shift away from cloud computing in favor of AI is changing the type of talent that businesses want, underscoring the need for more robust reskilling and upskilling programs. Demand in healthcare and logistics has remained steady, as well. 

Related: What is Contingent Workforce Management? 

Importance of Proper Worker Classification 

Worker classification continues to present challenges in the contingent labor space, especially given new regulations from the U.S. Department of Labor around classifying independent contractors. 

Proper worker classification is essential from a legal standpoint but can also help organizations manage their workers more effectively. Audits play a critical role in identifying classification issues, but the real challenge is addressing the root causes of misclassification. Organizations must educate managers and guide them in properly classifying workers to avoid costly problems down the road. 

Related: Employment Law Updates to Know in 2024 

Customization and the End of One-Size-Fits-All Solutions 

When it comes to contingent workforce management, offering a one-size-fits-all approach is no longer enough. Providers must tailor their programs and processes to each individual client. This means thinking more carefully about the team assigned to each account and ensuring their expertise and experience align with the client’s needs and preferences. 

Direct Sourcing: Valuable but Misunderstood 

Although direct sourcing has been a hot topic for several years, misconceptions remain around what it entails and how it can be implemented successfully. 

Panelists agreed that the biggest benefit of direct sourcing lies in the “reusability” of known talent, such as alumni or “silver medalists,” who have already proven their value to an organization. Tapping into this talent pool when needs arise can mitigate risk, expedite onboarding and ramp-ups to productivity, and save the company valuable time and money. 

Ultimately, though, direct sourcing should be one channel in a broader talent acquisition strategy—and there’s still more education needed for employers to make the most of it. 

Related: What is Direct Sourcing? 

Putting DEI into Practice 

Discussions around pay transparency and diversity, equity, and inclusion continue to shape how organizations manage their contingent workers. Employers—and their contingent workforce partners—must put these principles into action, track their efforts, and ensure fair, equitable treatment of all candidates and employees. By embracing diverse experiences and backgrounds, businesses can do a better job of innovating and problem-solving. 

Related: Neurodiversity in the Workplace: Leveraging the Untapped Talent Pool 

The future of contingent labor is filled with both challenges and opportunities. As organizations navigate this shifting landscape, those that focus on proper worker classification, embrace a comprehensive approach to talent acquisition, adapt to regulatory changes, and prioritize flexibility and diversity among their contingent employees will be best positioned for success. By staying ahead of these trends and proactively addressing the challenges, companies can build a more resilient and dynamic contingent workforce for the years to come. 

Interested in more industry news and trends? Check out our latest Employment Update, and sign up for Broadleaf’s monthly newsletter here. 

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Powering the Energy and Utility Workforce of 2024 https://broadleafresults.com/blog/talent-acquisition-and-management/powering-the-energy-and-utility-workforce/ https://broadleafresults.com/blog/talent-acquisition-and-management/powering-the-energy-and-utility-workforce/#respond Mon, 19 Aug 2024 13:45:11 +0000 https://broadleafresults.com/?p=11078 The energy and utility industries power our everyday lives and play a major role in the global economy.  The energy industry is made up of companies that produce oil, natural gas, coal, renewable fuels, and electricity from clean energy sources such as wind, solar, hydropower, geothermal, and nuclear power. Utilities work hand in hand with...

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The energy and utility industries power our everyday lives and play a major role in the global economy. 

The energy industry is made up of companies that produce oil, natural gas, coal, renewable fuels, and electricity from clean energy sources such as wind, solar, hydropower, geothermal, and nuclear power. Utilities work hand in hand with the energy industry to distribute and deliver power to businesses, homes, schools, hospitals, and more. 

Given the expansive footprint and impact of the energy and utility industries, it’s no surprise they employ a significant portion of the U.S. workforce. And as the energy landscape evolves, that number will continue to grow. 

Job Growth 

The energy sector employed more than 8.1 million Americans in 2022, according to the most recent U.S. Energy and Employment Report (USEER). Between 2021 and 2022, energy employment grew by 4 percent, outpacing the 3.1 percent growth rate of the U.S. workforce overall.  

Clean energy jobs increased in all 50 states and grew 3.9 percent nationally from 2021 to 2022. Texas, California, and Pennsylvania were the states that experienced the largest upticks in energy jobs. Every technology category in the energy sector saw an increase in jobs between 2020 and 2022. 

  • Motor vehicles (+13 percent since 2020)
  • Energy efficiency (+7.4 percent) 
  • Fuels (+11 percent) 
  • Transmission, distribution, and storage (+3.8 percent) 
  • Electric power generation (+6.1 percent) 

As of 2022, the energy sector has recovered 71 percent of the jobs lost in 2020. 

Workforce Demographics and Diversity 

Gender: Data from the U.S. Energy and Employment Report shows that the energy workforce is predominantly male (73 percent), with women holding just 26 percent of positions industrywide—well below the national workforce average of 47 percent. Although women remain underrepresented in the energy workforce, their participation has risen. Over half of the jobs added to the energy industry in 2022 were held by women. 

Race: There was a slightly higher percentage of non-white workers in energy (24 percent) compared to the entire U.S. workforce (23 percent). However, the industry had a below-average percentage of Black or African American workers. The proportion of Hispanic or Latino workers in energy (18 percent) was just below the national average of 19 percent, and the percentage of Asian workers was the same as the national workforce average (7 percent).  

Age: The energy workforce was younger than the U.S. workforce overall, with 84 percent of workers falling under age 55. 

Veterans: One area where energy outperformed other industries was its employment of veterans. In 2022, veterans made up 9 percent of the U.S energy workforce—higher than the national workforce average of 5 percent. 

Looking Ahead 

With so much change and innovation taking place across the energy industry, businesses must take a proactive approach to developing and managing their workforce. 

The 2023 Gaps in the Workforce Report, conducted by the Center for Energy Workforce Development (CEWD), highlights key takeaways and strategies to help organizations stay competitive as the industry evolves. 

  1. Aging workforce and retirements: The industry has made progress replacing retirees with younger people entering the workforce, as evidenced by the 56 percent of workers who have fewer than 10 years of experience. But companies now face the challenge of developing a younger generation of employees. The industry must prioritize training and mentorship programs that will equip younger, less experienced workers with the skills and knowledge they need to succeed and advance in their careers. 
  2. Growth in emerging technology jobs: Technology-related jobs in the energy industry are on an upward trajectory, underscoring the need for more retraining and reskilling. These initiatives will help retain and leverage industry employees whose jobs could be in danger of being eliminated as new technologies come to the forefront. 
  3. New normal post-COVID: Non-retirement attrition has risen since the pandemic, which means energy employers are facing higher competition for talent from companies outside of the industry. If this turns out to be a lasting trend, companies will need to bolster their retention efforts and show employees the benefits of a long-term career in the energy industry. 
  4. Trends in diversity, equity, and inclusion: Energy companies have widely adopted DE&I practices, particularly regarding strategies, goals, and programs for attracting diverse talent. DE&I policies with the lowest adoption rates among the companies surveyed relate to board training and incorporating diversity goals into performance evaluations and executive pay plans. 

The energy and utility industries keep our communities and economy running smoothly. By taking a proactive approach to finding, retaining, and training qualified talent, they’ll be well positioned to continue doing so in the years and decades to come. 

Broadleaf Results offers a comprehensive suite of workforce solutions to organizations in the energy and utility industries. Contact us today to learn more about how we can work together to streamline your talent acquisition and workforce management needs. 

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What is Contingent Workforce Management? https://broadleafresults.com/blog/talent-acquisition-and-management/what-is-contingent-workforce-management/ https://broadleafresults.com/blog/talent-acquisition-and-management/what-is-contingent-workforce-management/#respond Fri, 09 Aug 2024 19:32:07 +0000 https://broadleafresults.com/?p=13077 As the modern workforce continues to evolve at lightning speed, one trend continues to stand out: an increasing reliance on contingent staffing.  Staffing Industry Analysts predicts that contingent workers will make up 5.2 percent of the North American workforce in the next three years–an increase from the current 4.2 percent. In contrast, full-time workers are...

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As the modern workforce continues to evolve at lightning speed, one trend continues to stand out: an increasing reliance on contingent staffing. 

Staffing Industry Analysts predicts that contingent workers will make up 5.2 percent of the North American workforce in the next three years–an increase from the current 4.2 percent. In contrast, full-time workers are expected to constitute 76 percent of these workforces, down from 80 percent today and 82 percent three years ago.

But what exactly is contingent staffing? And how can you meaningfully integrate it into your workforce? Let’s dive into the details. 

Understanding Contingent Workforce

Contingent workers are non-permanent employees who work on a temporary basis. These individuals are not bound by the traditional employer-employee relationship and often work on specific projects or tasks. You’ll find contingent workers across all industries, including marketing, education, health services, and retail. Examples of contingent workers include:

  • Independent contractors
  • Freelancers
  • Consultants
  • Interns
  • Temporary workers employed through staffing agencies

The primary differences between contingent workers and full-time employees lie in their employment relationship, duration of employment, benefits, and level of commitment.

What is Contingent Workforce Management?

Once you understand the options available to you via a contingent workforce, it’s important to develop systems to support them. This is known as contingent workforce management.

Contingent workforce management refers to the strategic approach and processes an organization uses to leverage their temporary and non-permanent employees. This encompasses a range of activities, including:

  • Sourcing and recruiting 
  • Onboarding 
  • Performance management
  • Offboarding
  • Ensuring compliance with labor laws, managing contracts, and optimizing the overall workforce strategy

Related: Video: Contingent Staffing

Key Components of Contingent Talent Management

Sourcing and Recruiting: Finding the right talent quickly is crucial. Contingent workforce management involves leveraging various channels such as online job platforms, staffing agencies, and professional networks to source skilled contingent workers.

Onboarding: Efficient onboarding processes integrate contingent workers into the organization swiftly, ensuring they understand their roles, responsibilities, and company policies.

Compliance: Managing a contingent workforce requires adhering to labor laws and regulations and involves classification issues, tax implications, and contract management. Non-compliance can result in legal risks and financial penalties.

Performance Management: Monitoring and evaluating the performance of contingent workers is vital to ensure they meet project goals and contribute effectively to the organization.

Offboarding: When a project ends, or the contract is completed, offboarding involves managing the exit process smoothly, including knowledge transfers and gathering feedback.

Additional Perspective

To further enhance your understanding of contingent workforce management, consider the following perspectives:

  • Technology Integration: Leveraging advanced technology platforms can streamline the management of contingent workers. A Vendor Management System (VMS) can automate processes, track performance, and ensure compliance, allowing you to manage your contingent labor more efficiently.
  • Talent Pool Diversity: By utilizing a diverse range of contingent workers, organizations can foster innovation and bring in fresh perspectives and experiences. This diversity can be a strategic advantage in solving complex problems and driving business growth.
  •  Long-term Strategy: While contingent workers are often associated with short-term projects, integrating them into a long-term workforce strategy can provide ongoing benefits. This includes building a reliable talent pipeline and developing relationships with high-performing contingent workers for future projects.
  • Employee Engagement: Effective engagement strategies are crucial for contingent workers. Ensuring they feel valued and integrated into the company’s culture can improve their job satisfaction and productivity, leading to better project outcomes.

Stay Ahead with Effective Contingent Workforce Management

Whether you’re a Fortune 500 company or an emerging industry leader, partnering with a contingent workforce management provider with proven experience can help you reach your business objectives. With the increasing presence of freelancers, independent contractors, and temporary employees in the workplace, Broadleaf is well equipped to help companies keep their workforces engaged and efficient. 

Broadleaf delivers contingent staffing solutions that effectively manage staffing supplier efforts to enhance candidate quality and compliance, while decreasing costs. Our managed service provider (MSP) solutions are specially designed to help you source the highest-quality candidates, consolidate services, streamline processes, and provide advanced workforce analytics.

Learn more about Broadleaf’s managed service programs here. 

This blog was authored by Joseph O’Shea.

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How MSPs Drive More Holistic Total Talent Acquisition Solutions https://broadleafresults.com/blog/managed-service-programs/how-msps-drive-more-holistic-total-talent-acquisition-solutions/ https://broadleafresults.com/blog/managed-service-programs/how-msps-drive-more-holistic-total-talent-acquisition-solutions/#respond Mon, 29 Apr 2024 13:20:29 +0000 https://broadleafresults.com/?p=11642 As the world of work continues to evolve, employers face new challenges in sourcing, attracting, and retaining top talent. To remain competitive, businesses must take a more holistic approach to talent acquisition that considers your traditional and nontraditional workers, breaks down existing silos, and better serves the entire organization.  In this blog, we share some...

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As the world of work continues to evolve, employers face new challenges in sourcing, attracting, and retaining top talent. To remain competitive, businesses must take a more holistic approach to talent acquisition that considers your traditional and nontraditional workers, breaks down existing silos, and better serves the entire organization. 

In this blog, we share some of the ways that an experienced managed service provider (MSP) can support these objectives. 

Data-Driven Workforce Planning 

In a Gartner survey, just 33 percent of business leaders said their organization’s HR function is effective at using data in workforce planning. By providing clearer visibility into the data behind your contingent workforce, an MSP can help drive a more strategic approach to workforce planning across your organization. In addition to sharing important metrics like time-to-submit, time-to-hire, and cost savings over time, your MSP partner can identify market trends and benchmark data that may impact how, when, and where you hire. 

Compliance and Risk Mitigation 

Another way your entire organization can benefit from an MSP is through increased compliance and risk mitigation. MSPs can provide independent contractor compliance (ICC) and payrolling/employer of record services that protect your business from financial and co-employment risks. 

Unlike direct employees, independent contractors are in business for themselves, offer services to the public, carry insurance, have a physical location where equipment or tools are kept, pay their own expenses, and set their own schedules. They work free from supervision, direction, and control from the company utilizing them. 

Misclassifying a worker as an independent contractor when they should be classified as a business can have significant financial consequences. 

  • The IRS and state unemployment agencies may require your company to pay back taxes and penalties at the state and federal levels for failing to withhold and pay employment taxes. 
  • Your organization may be required to pay back wages, overtime, and benefits for the misclassified worker. 
  • In California, businesses can be penalized up to $15,000 per violation for misclassifying workers as independent contractors. If the misclassification was willful, the penalty could go as high as $25,000 per violation. 

These fines can add up quickly, especially for businesses that have misclassified multiple workers. MSPs have clear processes in place to properly classify your workers in accordance with IRS standards to prevent these costly issues from arising. 

As experts in employment regulations, your managed service provider will also stay up-to-date and keep you informed of any policy changes that may impact hiring processes and workforce management. 

Related: Employment Law Updates to Know in 2024 

Integrating with Other Workforce Solutions 

For a truly holistic approach to talent management, organizations are leveraging other workforce strategies and solutions, such as master vendor programs (MVPs) and direct sourcing, within their MSPs. 

Integrating a master vendor program into your MSP can provide numerous benefits, including streamlined procurement, a simplified supplier environment, and better technology. By utilizing an MVP inside an MSP, you’ll have access to a dedicated, onsite program and recruitment teams with a single point of contact, leading to localized subject matter experts, improved fill ratios, and decreased time-to-fill.

Under this model, the MVP owns recruitment at defined locations. The MSP can also utilize sub-vendors when hiring ramps up or for roles that the MVP is unable to support. Unlike a traditional contingent workforce model within an MSP, where multiple agencies are competing to fill the same positions in identical markets, this blended solution also allows for greater efficiencies, more onsite support, and more opportunities to save costs. 

Direct sourcing, which leverages technology to improve talent pipelining and create curate pools of qualified candidates, is becoming increasingly prevalent in MSPs. Direct sourcing reduces time-consuming elements of the recruiting process, such as sourcing and pre-matching, while ensuring sourced candidates are qualified and able to engage in work assignments quickly. When direct sourcing is incorporated in an MSP, these talent-related functions can be carried out by the MSP provider without having to engage secondary staffing suppliers. 

Related: What Is Direct Sourcing? 

Summary 

A successful talent acquisition strategy requires a holistic approach that considers your short- and long-term needs and allows your company leaders to see the value of your contingent workforce program. 

MSPs provide valuable support in these areas, assisting companies in attracting and retaining top talent in today’s competitive market while reducing time-to-hire, improving candidate quality, and ultimately, driving business results. By working together, your company and managed service provider can create a talent acquisition strategy that drives business success for years. 

This blog was authored by Joseph O’Shea. 

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