The good part of servicing MSP accounts is that there is no dearth of business if things are done right. Spend by structured contingent workforce programs exceed $100 billion and are growing at a healthy yearly rate. Imagine if your company could capture just a tenth of a percent of this MSP pie. It would make your organization a $100 million dollar company that can grow even more rapidly, as long as you fulfill the MSP’s requirements. What a great opportunity for those who can effectively service this model.
So what are MSP models looking for? Regardless of whether an MSP is internally managed or externally supervised, administrators of the program are constantly looking to improve their supplier base with staffing companies that can deliver scale (large volume of workers) and cost efficiencies. It is an ideal opportunity for staffing firms that are focused both on metrics and service to gain market share.
But that’s not all. Staffing firms that have a recruiting edge can see huge benefits, especially those that can provide high-quality talent in an optimized service model of coordinating interviews, providing quick feedback and on boarding the candidates.
Further, the smart staffing firm focuses first on learning and then being on top of skill categories, labor trends and fair market wages in any geography where their clients do business. They use this knowledge to connect with their customer, provide the best value and achieve great growth.
Because typically there are almost no sales costs associated with vendor neutral MSP programs, the sales expense that one incurs in in traditional retail staffing models can be saved and passed on to the customer. This enables us to build better delivery models that provide increased service.
At the end of the day, keeping the customer happy leads to more business. The MSP can open the doors to the rest of its clientele — and infinite possibilities.