Proven Solutions to Complex Challenges
The success of your organization is defined by the strength of your workforce – and this makes your process for engaging and managing your employees, contingent workers, and service providers a critical factor in your organization’s success. By providing end-to-end management and accountability for your entire contingent workforce program, Volt enables you to identify and address the key issues that can impact your success.
Improving Talent Quality
Every day, you’re putting your trust in your employees and service providers, making plans based on your expectation of their performance and trusting them to deliver the level of quality synonymous with your brand. Our expertise in supplier qualification, applicant review, market analysis, supplier mentoring, and supply chain optimization gives you peace of mind that your employees and vendors perform with the productivity and professionalism you expect.
A leading provider of self-service solutions for financial and retail markets selected Volt to replace their existing MSP provider. Volt seamlessly integrated the new MSP with the client’s existing VMS technology and improved the client’s acquisition of high-volume contingent skill sets. As the client’s business transformed to include more innovative services and technology-based solutions, Volt collaborated with the client to expand the scope of their MSP program to include more specialized and on-demand skill sets. The program now manages contingent hiring for a full range of roles, including IT, software and mechanical engineering, finance and accounting, human resources, and customer service.
Mitigating risk is critical to protecting your organization, but the bigger value of effectively identifying, measuring, and managing risks is that it enables you to make more informed decisions about your business. By accurately assessing the context and potential consequences of your operational, financial, and enterprise risks, Volt reduces uncertainty and empowers your decision makers to proceed more aggressively with your business objectives.
Volt implemented a successful MSP with a global aerospace company but as the client saw a rise in contingent employees being shifted to SOW contracts, they became concerned this change exposed them to worker classification issues. 85% of SOW projects were single-sourced to pre-identified suppliers, prices were inconsistent, and the client couldn’t consistently enforce compliance. Volt expanded the MSP to incorporate SOW projects, creating processes that provided end-to-end visibility of project status, costs, and performance, and established standard SOW templates that enabled monitoring and enforcement of provider eligibility, driving 100% supplier compliance on contracts that are now 85% competitively bid.
The heavy transactional workload of managing a complex workforce can drain your team’s ability to do what it does best – build your business. Volt allows you to increase efficiency and control workforce spend without cutting corners through improved supplier management, rate negotiation, regional market analysis, online timekeeping, onboarding/offboarding, and consolidated invoicing for your entire workforce program.
An insurance firm had no centralized contingent workforce program and paid inconsistent rates with more than 100 different suppliers across North America. Volt delivered an MSP that standardized procurement procedures nationally, streamlined the supplier base to top-performing partners, and incorporated a VMS tool to provide comprehensive visibility and enable MSP management of supplier performance and contingent labor spend. At the same time, the client was in the midst of integrating multiple acquired companies, but with the MSP solution in place, Volt reduced average fill-time by 50%, with client-calculated savings of more than 6% on $114M spend over four years.
Analyzing the performance of your workforce program requires more than knowing what happened – you need to know why it happened. Volt’s industry-leading business analytics process leverages crucial data from MSP programs across multiple industries and geographies to provide relevant, real-time information about your program performance. From rate benchmarking and spend analysis to key performance indicators and forecasting, we identify the factors driving those results and offer insights to help you make informed decisions about your business.
A medical device manufacturer selected Volt to deploy an MSP to improve contingent workforce management at several of its North American facilities. The initial scope focused on improving visibility for just five labor categories and Volt rapidly demonstrated the value of the MSP program, with deep-dive analytics that improved program performance visibility beyond the VMS data alone. Based on those results, the client steadily added other facilities, labor categories, and delivery channels under the MSP to include all of the client’s 140 North American locations. The result enabled the client to accurately assess and compare program performance by facility, business unit, and geography.
Volt Issue Briefs
There are many factors to consider when you’re deploying and expanding your MSP program. The issue briefs below provide insights on several of the common challenges our clients face:
The Advantages of Combining an MSP with a VMS
The increasing utilization of contingent labor as part of an overall workforce strategy – in most industries, more than 20 percent of all workers serve in a contingent or outsourced capacity – has many companies seeking efficient solutions for managing critical issues across their entire contingent workforce.
Factors in Successfully Taking an MSP Global
Contingent labor has emerged as an essential element of most corporate workforce strategies, and because MSP programs provide powerful capabilities for increasing control, visibility, and talent quality within a contingent labor program, many companies are exploring opportunities to expand their domestic MSP program globally.
Why Manage SOW and Outsourced Services Spend with Your MSP?
Statement of Work (SOW) and outsourced services are emerging as essential business strategies for companies of every size. These engagements are typically deployed to augment the core skills of internal teams or to complete projects that require bandwidth beyond the capabilities of an in-house workforce.