Why, in the ever changing MSP landscape, it has become more crucial than ever before to partner with your supply base
The need to feel engaged isn’t exclusive to millennials—although their emergence into the workforce has certainly provided the topic considerable column inches in the press—the truth is it’s a basic human need that resonates not only with Gen-Ys, but across all age demographics. When people feel engaged in the workplace, the level of personal investment in the corporate mission is more prevalent than for those who aren’t. Most successful leaders understand this, so why would the concept not extend to the vendor/MSP relationship?
Recently, I had the privilege of representing Pride Global at the 2019 CWS Summit in San Diego. Hosted by Staffing Industry Analysts (SIA), the conference is designed to “elevate workforce solutions professionals and their programs into the future.” During my time there, I was given the opportunity to host a round table on the topic of “Trends in MSP Management” where we discussed ways in which MSP programs have changed over the years to adapt to the evolution of the workplace, the workforce, and record-low unemployment. The session—which was very interactive among all its participants—included some of the industry’s top players who shared insights to their own experiences with today’s contingent workforce and how MSPs and Suppliers needed to adapt.
The overall consensus from the group of round table attendees was that, while in times past, MSPs may have acted as gate keepers, screening submissions from sometimes passive suppliers; there has recently been a shift: the need for true partnerships between the MSP and the supplier is at an all-time high. Ensuring the suppliers’ engagement and commitment to the united mission is vital for a competitive MSP to provide best in class service to their client.
One industry leader at the CWS Round Table shared their thoughts that “the level of trust between the MSP and the supplier holds more value when considering down-selection than even long-held key performance indicators, such as time to fill or the number of contingent workers on assignment,” something incredibly important to take into consideration when navigating through today’s MSP and supplier relationship market.
This increased focus on partnership has impacts in both directions. As clients and their MSPs continue to optimize their supply chain, it is now becoming more frequent that the quality or lack of relationship proves to be the deciding factor between retaining a supplier or not.
How do you feel this shift has affected the industry? Has this also been your experience? How else has the relationship between supplier and MSP changed in recent years? Please comment with your thoughts below!