Can you lower the total cost of recruitment with workforce solutions

On top of that, a widespread uncertainty is making it difficult to budget contingent workforces. Few people could have predicted events of the previous 18 months. How can you confidently prepare for what might come next? 

Working with a Managed Services Provider (MSP) gives you access to expert insight paired with data and technology. As a result, you gain a crucial edge in recruiting the best talent – all while lowering your total cost. 

As workforces become more diverse and global, the whole business of recruitment turns into something more complex – especially when you’re trying to balance permanent staff with a contingent workforce. 

In the current climate, it’s fiendishly tricky and throws up countless questions. Do you know how much your contingent labour costs? Do you have consistent pay and supply margins across your workforce? These details can get lost in the day-to-day of a busy working environment. Yet, they’re so important to keep track of – without rigorous planning and processes that adapt to the changing realities of the job market, your business is exposed to a lot of risk.

A good MSP helps you look to the future. But not only a few months ahead – you need insight on labour trends over the next two to three years to be adequately prepared. 

Our detailed understanding of the market means we have an eye on major projects and what’s happening internationally, so we know if skilled workers are moving abroad, for example. We see these shifts and help adjust your strategy appropriately before it’s too late.

 

With so many considerations, it’s easy to lose track of the raw cost of labour right now – never mind factor in the cost of agency management. With outsourced managed services, you avoid the unpleasant surprise of winning a contract then not having the budget to put people at your required margin.

We know the real market rate and can forecast potential changes so that your project budgeting is built for the real world. Using that insight from day one means you can be confident you’re getting top talent without paying over the odds. Even better, your supply chain is managed efficiently to make sure you’re never caught out or left behind in a rapidly changing market.

Because, of course, recruiting people is not the end of the story… you need to retain them too.

Keeping quality staff is the real challenge – and if your budget is already maxed out, that’s going to be tough. How do you make sure the cost of your contingent workforce isn’t consistently creeping up as rivals try to poach your best people? 

The best method: consider the full-term budget upfront. Replacing people mid-project is expensive and time-consuming – recruitment costs, onboarding time, lack of output when you don’t have the people you need. It all eats away at your productivity and profit.

We help you budget for long-term incentives and bonus packages across the full project that will keep staff focused on seeing out the full contract. Paying a little more could reap big savings. And with a technology-led MSP, you can make sure that mid-assignment rate increases for contractors are all controlled centrally and follow a consistent strategy.

What you’re really getting is the control and visibility that comes with embracing technology in your recruitment. Data is huge in helping make the right decisions. Do you know in real-time what the labour spent in your company is? Can you break it down by activity, project, and unit? Can you use contingency data to spot trends? These are the real difference makers.

Getting top talent at the right price is one thing, but the right MSP will also help you better integrate diversity, equality and inclusion programmes, alongside workforce compliance. All while saving you management time and potential costs down the line.

Ready to cut your total recruitment cost?