An MSP's Metrics Illustrate Oak Enterprises is a Top Performer
Some large corporations that use significant numbers of outside IT consultants employ a third party organization to centrally manage the process of consultant hiring. These organizations are commonly termed "Managed Services Providers", or MSPs. In addition to program administration, good MSPs track vendor performance and share metrics with vendors in the quest for continuous mutual improvement.Oak Enterprises participates in several MSP-managed programs and consistently rates extremely well in the various metrics that measure an IT consulting company's performance. While metrics and methodologies vary among MSPs, there are some common metrics that most accurately depict performance:
|Oak Scores High As a Preferred Vendor
In a third-party review of IT consultant vendors for a Fortune 500 client, Oak Enterprises' performance metrics are excellent:
- Oak's candidates are 20% more likely to be referred to the hiring manager than the average vendor's candidates.
- Oak's candidates are 38% more likely to be interviewed than those submitted by the average vendor.
- Oak's candidates are 67% more likely to be hired than those submitted by the average vendor.
These metrics validate Oak's expertise in understanding the client's needs and finding the best-fit talent.
- Of the candidates that are submitted to the MSP as meeting the job requirements, how many are actually referred along to the manager/decision-maker for consideration?
- Of the candidates that are submitted, how many are subsequently interviewed?
- Of the candidates that are referred along to the manager/decision-maker, how many are subsequently hired?
These three metrics illustrate the vendors' ability to source, qualify and supply candidates who are well matched to the job requirements. This touches on several aspects of a vendor's competence:
- Understanding the client's needs
- Having a strong and experienced recruiting engine
- Having a deep talent pool of prospective consultants and/or the agility and resources to quickly find qualified candidates
- Saving clients' time by presenting only the best-fit candidates
Here's how Oak Enterprises scored on a recent performance evaluation by an MSP who manages a 17-vendor program for a major Fortune 100 corporation based in the Chicago area:
Metric A: Percentage of candidates referred to hiring manager by the MSP
Oak's Performance: 80%
Vendor Average: 67%
Significance: Even in an economy of over-supply, Oak is able to quickly cut through the clutter of candidates and provide high quality talent - quickly (note that most job orders open and close within 48 hours). Oak's candidates are 20% more likely to be referred to the hiring manager than the average vendor's candidates.
Metric B: Percentage of candidates interviewed by hiring manager
Oak's Performance: 48%
Vendor Average: 35%
Significance: Oak is above average in correctly anticipating and meeting the needs of the hiring manager. Oak's candidates are 38% more likely to be interviewed than those submitted by the average vendor.
Metric C: Percentage of referred candidates who were hired
Oak's Performance: 25%
Vendor Average: 15%
Significance: Oak is above average in the ultimate determinant of recruiting the right candidates. Oak's candidates are 67% more likely to be hired than those submitted by the average vendor.
The MSP also tracked the experience level of consultants hired from each respective vendor to determine vendors' strengths in filling various requirements. Oak was successful in sourcing consultants in all 4 experience levels: 1-3 years, 4-6 years, 7-9 years and 10+ years. However, Oak was particularly strong in sourcing more experienced professionals; 39% of Oak's hired consultants had 10+ years of experience compared to the average vendor's 18% rating, and 23% of Oak consultants had 7-9 years of experience compared to the average vendor's 15% rating.
In summary, the quality of an IT consulting company can be quantified and an objective third party validates Oak Enterprises' high quality in this example. (Click here for another example.)
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