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Two of the major stakeholders most often engaged in this strategy are Procurement and Human Resources—our experience indicates that when these two groups work together effectively, an MSP program delivers significantly higher value than without this vital collaboration.

This series addresses common questions about MSP programs, and provides a framework that allows for informed decision making. The series will explore three key areas:

1. Explains what an MSP can do for your company—and why it’s important

2. Demonstrates how multiple sourcing models can integrate with MSP strategy

3. Articulates the business case for MSP and helps to determine your readiness

The following covers the first of those three areas – The What, Who, and Why of MSP. Be sure to read parts two and three for additional observations on achieving effective talent management through MSP solutions.

This information should prove valuable to procurement and human resources professionals as they plan and prepare for the future. It also presents real value to stakeholders, whose operations may be impacted by the MSP program and leadership from many other areas, including finance, IT, or operational functions that may ask:

“What strategies can we deploy to access qualified talent while managing the cost, technical competency, and risk inherent in utilizing external labor?”