Name: Reed Talent Solutions
Price range: $

Question 1

What is a Managed Service?

Accepted Answer

A Managed Service is the management of a company’s entire recruitment process by one provider. This includes managing other approved suppliers, from order through to invoice, on your behalf. We can distribute orders on a preferred or lead supplier basis, depending on location and job category. The benefit is that there will be one standardised process for orders, fulfilment, timesheets, invoicing and performance management, across all supply.

Question 2

What are the benefits of a Managed Service?

Accepted Answer

A Managed Service offers complete visibility and control over your entire contingent workforce, helping you to make informed recruitment decisions.

Key benefits include:

Reduced cost and time to hire
Streamlined processes
Effective supply chain management
Increased compliance, reducing your exposure to risk
Access to the right talent every time
Access to insight and analytics through advanced technology

Question 3

What are the different types of Managed Service?

Accepted Answer

The most common managed service models are: master vendor, neutral vendor and hybrid managed service.

In a master vendor model, a single provider supplies and manages the majority of contingent resources from their own candidate pool, with the support of a small number of suppliers.

The neutral vendor model is a technology-led solution, which directs orders to a panel of pre-approved suppliers.

The hybrid managed service offers a blend of the master and neutral vendor models, with a single supplier offering different routes to market for different staffing categories. This is particularly useful if you have a wide range of staffing requirements.

Question 4

What savings can a Managed Service deliver?

Accepted Answer

Our experience suggests that a Managed Service could save you between 5 and 15% of your recruitment spend. Our pricing is flexible and designed to help you realise savings through process efficiencies, day rates to contractors, and supplier fees.

Question 5

What happens to any current temporary workers or contractors?

Accepted Answer

During implementation, one project work stream will be responsible for engaging with your existing supplier. We will determine and manage any risks associated with your incumbent temporary and contractor workforce. Where possible, we would always look to align the incumbent temporary and contractor workforce to the new service.

Question 6

What happens to my current suppliers?

Accepted Answer

During implementation, one project work stream will be responsible for building an effective supply chain with you. We would work to bring across approved incumbent suppliers to the new service.

Question 7

How do you implement a Managed Service and how long does it take?

Accepted Answer

Typically, a Managed Service will take between 12 and 16 weeks to implement. Implementation is managed by a dedicated project manager who has responsibility for all workstreams, including: process design, technology, MI, invoicing, audit and compliance, support suppliers, risk management, transition management, communications and training.

Question 8

What is a vendor management system (VMS)?

Accepted Answer

A vendor management system (VMS) is the technology platform used to operate a Managed Service. The VMS controls all staff orders and provides full transparency at every stage of the process, from order through to invoicing.

Question 9

How do I know if a Managed Service is a viable option for my business?

Accepted Answer

Our current Managed Service clients have a variety of needs and requirements, ranging from looking to reduce the cost of their recruitment, to wanting to improve their management of suppliers. We understand that every business is different, and so we build bespoke Managed Service solutions. Get in touch today to find out how we could help your business.

Contingent Solutions

Permanent Solutions

Consultancy Solutions

Other Solutions

Workforce Management & Payroll Solutions

Fully compliant, digital & cost effective

Compliance

On/Offboarding

Workforce engagement

Pre-employment vetting

Payroll

Supply chain management

Why choose us?

Case Study

Managing the transfer of 133 incumbent contractors for an investment bank

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