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. 

The post What is MSP? Managed Service Programs: Explained appeared first on Broadleaf Results.

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

The post 8 Steps for Building an Inclusive Workplace appeared first on Broadleaf Results.

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. 

2. 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. 

3. 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. 

4. 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. 

The post Supplier Diversity Programs: How to Get Started appeared first on Broadleaf Results.

Research has also shown that employees with emotionally intelligent managers are far more likely to stay at their jobs. This is a significant statistic, given the difficulty of finding good talent in the current labor market.

What Is Emotional Intelligence?

So what is emotional intelligence (EI), and how can managers develop stronger EI? Daniel Goleman is a psychologist who coined the term “emotional intelligence” and has emphasized its importance in personal and professional success. According to Goleman, EI is a set of skills that help individuals recognize, understand, and manage their own emotions, as well as the emotions of others. Certain behaviors have been identified in leaders who display high EI, making them better people managers.

Four Traits of Emotionally Intelligent Leaders

In his 1995 book Emotional Intelligence, Goleman identified four pillars or attributes of emotional intelligence, which are:

1. Self-Awareness

The first step in developing EI is self-awareness. Leaders should take time to reflect on their emotions and how they impact their behavior. This will involve paying attention to physical sensations, thoughts and emotions in different situations.

2. Self-Management

Once leaders are aware of their emotions, they can learn to manage them effectively. This involves developing skills such as mindfulness, stress management and self-control. Leaders should also practice active listening and be aware of their body language when interacting with team members.

3. Social Awareness

Social awareness refers to the ability to understand and empathize with the emotions and perspectives of others, as well as to recognize and navigate social dynamics and norms.

4. Relationship Management

Relationship management is an essential component of emotional intelligence. It involves using emotional intelligence skills to build and maintain positive relationships, resolve conflicts, and influence and inspire others to achieve common goals.

From Behavior to Action: How to Get The Best From Your Team

Emotionally intelligent leaders not only demonstrate the traits above but have also developed accompanying skills to motivate, engage and develop staff. These positive actions include:

1. Embracing Empathy

Leaders who can put themselves in their team members’ shoes and understand their emotions and perspectives are likelier to motivate and engage their team. Leaders who listen and respond with empathy perform over 40% higher in decision-making.

2. Communicating Clearly And Listen Actively

Effective communication is key to building trust and credibility with your team. Emotionally intelligent leaders communicate effectively to ensure everyone is on the same page and that their messages are clear, concise and well-received. They want to understand the employees’ perspectives and provide feedback clearly and respectfully.

Emotionally intelligent leaders actively listen to their team members and timely respond to their concerns, needs and feedback. This demonstrates that team members have been heard and their leader values and respects their input by taking the time to understand their perspective.

3. Leading By Example

Practice what you preach by modeling emotionally intelligent behaviors. Be transparent, authentic and vulnerable when appropriate. Use mistakes as opportunities for growth and learning.

Goleman writes: “Humble leadership, sometimes referred to as ‘servant leadership,’ offers an alternative to the egotism that so often goes hand in hand with power, and enables leaders to make a positive difference in the lives of their team members.”

4. Offering Encouragement And Support

Emotionally intelligent leaders help their team members grow and develop by offering encouragement and support and recognizing and rewarding their achievements. Leaders with high emotional intelligence can also recognize and address sources of stress and burnout in employees and provide support and resources to help manage this stress and maintain a healthy work-life balance.

5. Creating A Positive Work Environment

A positive, supportive and psychologically safe work environment boosts team morale and motivation. Emotionally intelligent leaders work to create a culture where everyone feels valued and respected and has the opportunity to contribute.
Conclusion

While some individuals naturally possess emotional intelligence, others must put more conscious effort into developing the requisite skills to achieve EI. Either way, research has demonstrated that leaders with EI have more motivated and engaged teams. That should be motivation enough to self-reflect, adapt, and practice behaviors that will develop your emotional intelligence.

This blog was originally featured on Forbes.com and written by Broadleaf’s President and CEO, Lynne Marie Finn. 

The post Emotionally Intelligent Leadership and Employee Retention appeared first on Broadleaf Results.

So, what caused such a rise in demand for financial services talent? According to workforce experts, the provision of trillions of dollars in federal COVID-19 aid created a perfect storm for the finance sector. As millions of Americans were desperate to maintain financial stability during the pandemic, they turned to their trusted bankers and financial advisors for help. Further accentuating the need for financial services professionals, record-low interest rates spurred consumer spending and a greater willingness to borrow money. These collective demands forced banks and other financial institutions nationwide to increase the sizes of their retail banking and customer service workforce.

Looking to the future, what are some anticipated trends within the financial services sector? Here are things to expect when examining the long-term direction of the industry in 2022 and beyond.

Putting greater emphasis on digital transactions

If the pandemic taught us one thing, it’s that humans can never take in-person interactions for granted ever again. The same is also true for banks and financial institutions. Even before the outbreak of the pandemic, retail banks had witnessed a steady drop off in branch usage. While experts claim that there will always be a need for brick-and-mortar banking locations, innovators within the finance sector will expand their technology departments to improve their digital websites and mobile banking applications. By enabling customers to conduct transactions right from their computers or smartphones, banks will more effectively embrace the digital era.

Familiarizing employees with in-demand departments

Throughout the pandemic, banks and financial institutions have had their hands full when trying to keep pace with consumers’ borrowing demands. To continue servicing the needs of their clients and customers, organizations must continue large-scale cross-training initiatives. This is done—in large part—to familiarize employees who may be experiencing declines in workloads with departments that have seen explosions in service needs. Areas like lending, customer service, and product design have all been booming during the outbreak of COVID-19—and this trend will only be amplified in the months ahead.

Proactively monitoring for criminal cyber activity

As banks and financial services institutions continue to ride the digital transformation wave and utilize the latest and greatest twenty-first-century technology, the need for added cybersecurity measures will be considerably high. According to new research by BAE Systems Applied Intelligence, 74 percent of banks and insurers experienced a rise in cybercrime during the pandemic. Because criminal cyber activity will only continue to become more innovative and sophisticated, these businesses must be on high alert and aware of a potential attack. By allocating additional resources and deploying professionals to prevent money laundering incidents and phishing scams, the financial services industry will be better protected from a devastating and debilitating cyberattack.

Promoting diversity and inclusion in talent acquisition

Historically, the financial services sector has been an industry dominated by white men. As such, companies within this space have begun strategizing how to recruit greater populations of diverse and oft-overlooked candidates. Studies—like one conducted by McKinsey—show that companies in the top quartile for ethnic and cultural diversity on executive teams were 33 percent more likely to have industry-leading profitability. Making meaningful progress in the areas of diversity, equity, and inclusion can serve as a differentiator for financial services organizations while better positioning them for long-term success.

Searching for top-tier financial services talent? Contact us to learn more!

The post Pandemic Brings Increased Demand for Financial Services Talent appeared first on Broadleaf Results.

Listen to the Full Podcast

Company history

In the late 1950s, Richard Stenclik—Lynne’s father—started a technical staffing firm called Superior Design Company. Since founding the company, Richard—with help from Lynne and her brother, Scott—transformed the organization from a small, local operation into a multinational enterprise. But in the company’s early goings, young Lynne wanted no part of the business.

“Our family dinner table conversations were almost always about business—and frankly, I hated it,” said Lynne. “I had no interest at all in joining the family business as a child. Instead, I dreamed of studying ballet, modern dance, and acting.”

Changing career ambitions

Despite her aspirations of making a career out of the performing arts, Lynne’s father provided some professional advice: either become a lawyer or a doctor. She selected the former and was accepted into Georgetown Law School, where she earned her JD and was the first person from her family to graduate college. This educational background served her well when she decided to turn down job offers in New York and Washington, D.C. to return close to home in Buffalo.

“Upon graduating from law school and moving back to Buffalo, I worked in a large law firm—primarily in litigation—for about three years,” commented Lynne. “I then left that law firm because I wanted to be in court more often—it was the performer in me! I then worked at the District Attorney’s office for about three years before my dad asked me to join the family business as a legal counsel.”

Joining the family business

Fast forward a few years into her tenure with her family’s business, and Lynne took over operations of an entity within the Superior umbrella. The organization is today known as Broadleaf Results—a provider of outsourced recruitment and talent management services. Lynne’s position as President and CEO of Broadleaf classified the company as a women-owned business—one of the largest such firms in the managed service space.

“I love having the opportunity to educate women about the value of a WBENC certification and what it can do for their business,” said Lynne. “I’ve been supporting women-owned businesses for about two decades. They have such a passion for their business and are invested in what they’re doing, but they don’t take themselves too seriously.”

Supporting women-owned businesses

Despite the efforts of Lynne and other female business owners around the world, WBEs still encounter their fair share of challenges when starting their operations. According to Lynne, banks and other investors have to be intentionally inclusive of women-owned businesses to enable these females to have access to capital.

“It’s very important for women to develop strong networks and mentors, which is why I try to make myself available to women business owners,” noted Lynne. “We need to make these resources more readily available to female entrepreneurs so they don’t face these initial hurdles when trying to start their own business.”

Advice for young entrepreneurs

When asked for any professional advice that she would offer to women entering the business world, Lynne didn’t hesitate when sharing the following message.

“Think bigger, be bolder, act faster. I say that because earlier in my career, I don’t think I felt confident enough to do that. We have come so far in terms of creating opportunities for women to make an immediate impact in the workforce.”

To listen to the entire podcast, check out this link here.

Interested in learning more about Lynne Marie Finn? Check out her bio here. You can also connect with her on LinkedIn.

The post Lynne Marie Finn Featured in Recent ClearEdge Podcast appeared first on Broadleaf Results.

I’m sure you’ve heard of the age-old adage: “Do you want good, cheap, or fast? You can only pick two!” Not only does this sentiment ring true in the restaurant industry, but it is also commonly found in the business world. By engaging with a knowledgeable and collaborative Managed Service Program (MSP) partner, you will often find yourself positioned to receive all three kinds of services within your workforce program.

In today’s day and age, organizations around the world are hyper-focused on the mantra of “better, faster, cheaper.” Ideally, this mindset centers around maximizing cost savings—especially regarding contingent labor initiatives. And while there are dozens of ways to drive direct and indirect savings within an MSP program, companies should leverage these five strategies to ensure excellence in the quality of service provided.

What is MSP? Managed Service Programs: Explained

1. Lean on your MSP partner

Utilizing competitive yet realistic pay and markup rates is critically important when attracting reputable suppliers—and their candidates—to support your organization under an MSP. Markup rates are considered almost like a balance sheet of sorts: going too low on a markup will generate significant on-paper savings, but may cause delivery and retention of talent to suffer. Going too high on markup rates will cause your bottom-line to be deflated. To further improve the quality of your candidate pipeline, seek guidance from your MSP provider around maintaining proper wage rates and incentive offerings for staffing suppliers and their contractors. In the current labor market, recruitment strategies are changing almost by the minute. Leaning on your workforce solutions partner will be critical in designing an effective yet cost-conscious solution to your labor needs.

2. Be transparent

In every contingent workforce program, there will always be objectives to be achieved and challenges to overcome. From the start of your relationship with your MSP partner, be transparent with these expectations. If you have a budget or timeline that must be adhered to, be honest about it. This will allow your MSP partner to develop an understanding of the importance and priority of your needs. Even if the MSP provider confirms that these goals may be a bit too ambitious or unrealistic, this honesty will foster accountability within the program and help to maintain a strong partnership

3. Don’t forget about soft savings

Hard cost savings are generally easier to identify and quantify. Although they are often considered the “low-hanging fruit” in workforce management programs, substantial value can be generated by exploring soft cost savings, as well. These strategies should be explored to gain and maintain visibility over your entire contingent workforce approach. In many MSP programs—particularly those that are more tenured—cost savings can be uncovered throughout the life of the program, but these may require more creativity and collaboration with your MSP partner. Ensure that your contingent workforce partner leaves no stone unturned when seeking cost-saving strategies. In addition, be sure to confirm with your MSP partner that all cost strategies will be captured through robust data and analytics systems or platforms.

4. You have to spend money to save money

To enhance the efficacy of your contingent labor program, subtle changes—such as increasing your hourly pay rates for a particular skillset or market—can provide a huge boost to the long-term success of your MSP initiative. Although these adjustments may cost more in the short term, they could ultimately pay huge dividends in the grand scheme of your program. As stated above, attracting and retaining talent while maintaining cost-effectiveness is a balancing act—one that your MSP partner should provide guidance to you on an ongoing basis.

5. Talent retention = savings

Above all else, the most effective way to control your overall workforce costs is by retaining your talent. Decreased employee satisfaction and productivity paired with increased turnover will adversely impact your organization with staff replacement costs, increased overtime costs, and general disruption to your key business deliverables. Keeping your team staffed and satisfied will allow you to spend less effort worrying about finding their replacements and more time focusing on generating exceptional business results.

Summary

While many factors contribute to the success of a contingent labor program, organizations need to be cognizant of potential cost savings, both hard and soft alike. By aligning with a proven workforce solutions partner—one with a prudent and strategic approach to recruiting and talent acquisition—companies will realize significant improvements when effectively attaining their various workforce objectives.

Is your organization interested in generating cost savings within your workforce? Learn how the Broadleaf difference can enable you to do just that.

This blog was written by Broadleaf’s Director of Client Delivery Ryan Schaal.

The post Five Steps to Strategic MSP Cost Reduction appeared first on Broadleaf Results.

The growing prevalence of virtual interviews has changed the talent acquisition world as we know it. The days of in-person interviews are temporarily gone—and may never return to their pre-pandemic state. And while the act of conducting a digital interview may prove to be more convenient for both the interviewer and the job candidate, organizations must be cognizant of any unintentional biases that come with this new process.

Learn how to promote employee engagement in a virtual world.

Here are some dos and don’ts to help your organization remain unbiased and impartial throughout the video interview process.

Don’t: Pay attention to camera quality

Regardless of whether a candidate accesses a virtual interview from their ultra-modern laptop or takes the conversation from their low-quality cell phone, don’t assume that the former is better suited for the role than the latter. Many of us take technology for granted these days, and we forget that some people experience difficulty when attempting to gain access to high-speed internet connections. Don’t let yourself formulate a negative perception of a candidate if he/she experiences technical issues—they happen to the best of us!

Don’t: Pay attention to background noises

We all know how much people’s lives have been impacted over the past year, so don’t be surprised if some individuals may not be able to find a quiet place to conduct the interview. Whether you’re talking to a young mother with screaming children or a college student with noisy roommates, refrain from allowing these disruptions from influencing your perception of a candidate. These background noises prove nothing about the individual’s qualifications and their ability to effectively perform in a workplace environment.

Do: Pay attention to backdrops

While interviewers should look past potential background noise disruptions during a virtual interview, they should be mindful of the backdrop that a candidate chooses to display on camera. Organizations should pay attention to explicit posters, unethical symbols, or other inappropriate backgrounds. These signs—although subtle—can serve as a warning to your organization. If any backdrops are deemed unprofessional or unscrupulous, it may be time to remove your candidate from your shortlist.

Do: Establish strict protocols for recording interviews

Prominent virtual interview platforms like Zoom and Microsoft Teams enable the interviewer to record each conference call. This option may be enticing when some primary stakeholders within your organization are unable to attend a live interview with a candidate. However, before you choose to record your virtual interviews, it’s important to first confirm that such recordings are legal in your state. If so, setting up formal recording guidelines is imperative. For instance, the interviewer must confirm that all candidate interviews are recorded—not just a select few—and that each decision-maker will have equal access to the recordings. In addition, be sure that you have received permission from the candidate that they may be recorded. By establishing these formal protocols, you’ll ensure that each interview is conducted in a fair and equitable manner.

Summary

In the new age of virtual interviews, companies need to ensure that their interviewers are well informed on the importance of remaining impartial throughout the process. Not only do these decision-makers represent their organization’s brand to outside candidates, but they play a critical role in bringing in talent resources to further develop a positive workplace culture. By ridding the interview process of all biases—both conscious and unconscious—you’ll ensure greater success in your talent acquisition outreach.

For more thought leadership content from our team of workforce experts, check out our blog.

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By Dave Savarise, Executive Vice President.

The post Eliminating Virtual Interview Bias appeared first on Broadleaf Results.

As America continues its mass production and administration of vaccines, workers’ fear of changing jobs during the pandemic will eventually dissipate. And with it will come an unprecedented number of employees on the lookout for new employment opportunities.

So how can your organization ensure that your talent isn’t scouring the job market for a new role? Here are some tips to improve your organization’s culture, enhance your employee engagement, and strengthen your employer brand.

Provide consistent feedback

According to Officevibe, 96% of employees stated that receiving regular feedback is a good thing. Yet the same study revealed that 62% of employees wish they received more of it from their managers. To foster a more positive and growth-oriented workplace, organizations need to mandate the provision of ongoing feedback. This is a critical step in maintaining motivation and collective buy-in across the organization.

Ensure that voices are heard

In a recent study conducted by Salesforce Research, employees are almost five times more likely to feel empowered to do their best work when they feel heard. Organizations must encourage their managers to actively listen to the needs of their workers. Take the time to pay attention to employees’ ideas and implement the ones that are practical. This will help to cultivate a workplace that empowers and supports its people.

Utilize social media

Using social media platforms to highlight the who, what, and why of your company is a great way to build your employer brand. Showcase employee success stories through videos or write-ups, key-in on primary differentiators, or articulate your organization’s mission and values. The utilization of social media will also enable your employees to share the reasons why they are proud to work for your company.

Coordinate L&D opportunities

In the eyes of many professionals, the active promotion of growth and development opportunities by their employer is an absolute must-have. Organizations that enable their workers to enroll in new courses, attend skill-building events, or take part in industry conferences will enable greater workplace success and reap the benefit of increased performance in the long-run.

Encourage volunteerism and community service

A trend that has become increasingly prevalent within the workplace in recent years is VTO, which stands for volunteer time off. These initiatives help organizations to serve and leave an impact on their communities. Popular examples of VTO efforts include building a house with Habitat for Humanity, spending time at a local food bank, or planning a cleanup of nearby waterways or parks. Not only will employees feel more connected to their communities, but they will also feel more connected to one another.

Promote a healthy work-life balance

This past year has taken its toll on our mental and emotional well-being. As many workers have taken on increased responsibilities in the workplace—along with managing at-home struggles—employees have quickly become overworked and overwhelmed. Enabling your workers to be happier, healthier, and more productive starts by supporting them outside of the work environment. Encourage them to use PTO days to take a break from their everyday hustle and bustle. Allow them to work on flexible schedules to support the needs of their children. These steps will show your talent that you care not just about their work performance, but about their personal health and well-being.

Recognize successes—even the small victories

To create a culture of positivity and success, organizations must reward their talent for their efforts. Whether you are publicly or privately recognizing a worker for their hard work, this will go a long way in boosting morale and making them feel part of a common cause. Always remember—a simple “thank you” can go a long way.

Promote from within

No employee wants to work for an organization with limited career growth or upward mobility. That’s why companies must be diligent about promoting deserving resources from within. By providing career advancement opportunities, employees will be motivated to work harder and earn that big-time promotion.

Summary

We hope these tips and strategies help bolster your talent retention efforts. Making a concerted effort to ensure that your employees remain satisfied in their roles and are motivated to perform at a high level will be critical to building a positive workplace culture. Ultimately, studies show that by investing in and rewarding your internal employees, your organization will benefit from greater business success.

To see more of our thought leadership content, you can visit our blog here.

Contact us to learn more!

The post Preventing Job Turnover by Prioritizing Top Talent appeared first on Broadleaf Results.

To help your organization formulate a plan of attack before introducing your new strategic workforce solution, here are some items that you should be thinking about prior to adopting a labor management program.

Establish your goals and objectives

It is critical to understand the “why” before implementing a new workforce management approach. What would you like the program to accomplish? How can it enhance the success of your organization? In what ways will it support your internal staff? By gathering impactful data and generating insightful answers to these questions, you’ll enable your workforce solutions provider to design a solution that is tailor-made for your business’s specific needs.

Appoint points of contact and an executive sponsor

The success of your workforce solutions program—or lack thereof—will greatly hinge on the collective buy-in generated from your internal teams. By designating a point of contact who will work with your workforce solutions provider and handle all program-related matters, you’ll boost your odds of program prosperity tenfold. In addition, an executive sponsor can play a critical role in bridging the gap between your organization’s key stakeholders and the provider’s implementation and account teams. By nominating primary points of contact from your HR, TA, procurement, and finance departments—along with naming an executive sponsor for the program—you’ll ensure that your organization’s cumulative needs are spoken for.

Encourage internal responsiveness

During the implementation and discovery stages of any workforce solution, there will come periods of in-depth, Q&A-style conversations led by the workforce solutions provider. While some stakeholders within your organization will be undoubtedly hesitant to respond truthfully when faced with this onslaught of probing inquiries, understand that collective honesty will only strengthen your program in the long run. Make sure your teams are attending these discovery sessions and contributing appropriately. Ultimately, what your workforce solutions provider doesn’t know, they can’t solve for—so be candid during your conversations!

Set up a hiring manager user group

Experimentation is often key during the initial roll-out stages of any workforce solution. That’s why it’s important to grasp how your solution can be applied in a real-life scenario before program launch. By establishing a hiring manager user group, your organization will be able to work out the kinks in your program. These designated stakeholders can be helpful when validating processes, affirming company practices, and testing out recruiting technologies like VMS or ATS systems. As your hiring managers grow increasingly comfortable when learning how to use this new workforce solution, their overall performance will almost always show improvement.

Ensure a smooth and steady process

Your workforce provider will have a variety of milestones and deliverables that are designed to keep the program on-track and on-time during implementation. To avoid delays with your solution, be sure that your internal teams understand the importance of responsiveness. By providing prompt answers to the provider’s wide-ranging questions, the possibility of disruptions to the program roll-out will be diminished significantly.

Summary

Whether you’re an HR, TA, or procurement professional, you understand the challenges that come with managing a contingent labor program. That’s why workforce solutions can provide the perfect remedy to alleviate these time-consuming tasks from your daily work agenda. Upon honing in on the type of workforce program you’d like to deploy and choosing a proven provider to help you get there, your organization must prepare itself for all that is to come during the implementation period. By showing a willingness to work with your provider and help them develop a firm grasp of your talent and labor objectives, your organization will reap the benefits from a viable workforce solution—one that will improve the quality and efficiency of your contingent labor objectives.

To read additional thought leadership content from our Broadleaf team, check out our blog. You can also find more workforce advice on our Facebook, Twitter, and LinkedIn pages.

The post Preparing for the Implementation of a Workforce Program appeared first on Broadleaf Results.