Managed Service Programs Save Staffing Costs, Increase Efficiencies

As companies are increasingly faced with unpredictable workloads, fewer resources and the need to continue momentum despite an economic downturn, now more than ever there is a compelling business case for implementing a managed services staffing program.

Human resources and procurement professionals help determine the potential cost savings of using a Managed Services Program (MSP), as well as the time saved and employment risks mitigated according to Veritude's white paper, "The Power of a Managed Services Program."

"According to Staffing Industry Analysts, the overall use of contingent workers is projected to go up 14.3% by 2010," says Jim McCoy, senior vice president, Veritude. "With every dollar and every employee being carefully scrutinized, the use of an MSP has become even more integral to successful workforce management."

Enabling companies to recognize cost savings, alleviate time constraints and manage co-employment and worker classification risks, Veritude's MSP platform helps retailers have one point of contact to leverage the potential of their contingent workforce. Veritude's platform also helps manage temp-to-permanent and direct hiring strategies.

McCoy adds, "Employment risks are a major concern for organizations, however, working with an MSP allows a company to outsource these risks to the provider. Added risk mitigation benefits are also realized, since the MSP applies the highest levels of rigor to screening and on-boarding candidates. For example, our candidates receive thorough background checks and are screened through a behavioral interview process."

Veritude's Managed Services Program sources and hires employees, develops optimal hiring processes, identifies vendors to provide specialized expertise, manages vendors from contract negotiation to performance management, runs the technology to manage the lifecycle of the program and handles payment of the temporary, temp-to-permanent or direct hire employees as well as payment to the other vendors. As a result, direct or "hard" costs previously resulting from varying contract terms, bill rates and program management are reduced, as well as "soft" costs - overhead especially in environments chartered with doing more with less - are lowered.
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