As more organizations increasingly turn to contingent talent to remain agile, and ensure flexibility while market conditions are uncertain, many businesses are exploring the option of sourcing talent directly to save on recruiting costs and to fully leverage the power of their brand. Yet, switching to a direct fulfillment model can take time to set up, be expensive to launch, and potentially monopolize valuable HR and procurement resources.
In part one of this series, we examined how organizations can use a direct sourcing model through their managed service provider (MSP) to develop branded talent pools and gain rapid access to high-quality contingent workers for virtually any project or business need.
But what exactly is the value proposition of having an established, directly sourced talent pipeline, and how can it keep talent engaged and loyal to your company?
SIA’s global survey found that 28% of contingent workforce programs already source some of their talent directly, while 39 percent of program managers are considering doing so, illustrating that more and more companies see the value in investing in a direct relationship with contingent talent.
Branded talent pools that can provide businesses with fast access to talent are a key feature of a direct sourcing recruitment model, but organizations can also expect substantial cost savings with this approach. And while adopting a direct fulfillment model is certainly beneficial to an organization, doing it yourself can be time and resource intensive – often making it a prudent decision to have your MSP provider take the lead. The managed service provider will be responsible for all aspects of recruitment, from job advertising to marketing, applicant screening to interview scheduling, all via an employer branded approach in which the MSP serves as both a supplier and an extension of your business.
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Having an employer branded talent pool at the ready not only lowers talent costs, but creates a robust talent supply chain. For example, with direct sourcing, silver and bronze medalists from permanent recruitment efforts can join your branded talent pool to be considered for future roles, both full-time and temporary. This provides immediate and long-term benefits to your talent strategy by reducing time to deployment in the short-term while providing access to a higher overall caliber of talent.
Additionally, if you already have a strong employer brand in place, why not leverage it to attract contingent talent to your organization. Through direct sourcing, you’re better positioned to achieve a level of engagement and loyalty with your contingent workforce that is not always possible when using third-party suppliers. Your MSP can create a unique talent portal for your business that drives continuity with top talent. The portal does this by providing content that allows professionals to increase their skills and knowledge, while continuously alerting them about new opportunities via text and email outreach.
This direct fulfillment relationship helps attract the best talent by creating a positive experience for flexible talent. It gives your organization the ability to reinforce how critical they are to your company’s strategy and success. This relationship building ensures that your organization has a pool of validated, ready-to-work and qualified contingent talent who can be deployed and re-deployed as needed.
Setting up a direct sourcing program from scratch can be time-consuming and costly. But expanding your existing relationship with an MSP provider, that already understands your company culture and hiring needs, can simplify the process for your organization and help you develop a robust pipeline of engaged, high-quality flexible talent. This strategy provides increased business agility, and frees up resources in HR and procurement, while simultaneously reducing costs and overall contingent talent spend.