Net Promoter Score (NPS), a term first coined by Fred Reichheld in his 2003 Harvard Business Review article “The One Number You Need to Grow”, is an integral measure of customer loyalty. With a spectrum ranging from -100 to +100, the score reflects the polarity between detractors and promoters. An NPS above zero indicates customer satisfaction, while a stellar score of +50 suggests customer delight and loyalty.
NPS measures customer experience and its potential to drive business growth. The metric pivots around a crucial question: How likely are you to recommend our company/product/service to a friend or colleague? Answered on a scale of 0 to 10, it reveals the willingness of customers to become advocates for a brand.
In the context of contingent labour, an MSP’s NPS can provide a comprehensive overview of the satisfaction levels of its current and past customers – including both clients and contractors.
Hiring manager satisfaction
A robust NPS can be indicative of high satisfaction among hiring managers. It suggests that the MSP is adept at understanding their needs, procuring top-tier talent, and delivering high-quality service.
Take the utilities industry, for example. Rapid technological advances and regulatory changes require MSPs to source candidates with a unique set of skills. A high NPS may imply that the MSP has succeeded in consistently providing skilled professionals who can navigate the changing landscape of the utilities sector.
The energy sector provides another example. As the industry moves towards greener, more sustainable technologies, the demand for specialists in renewable energy has grown. A high NPS score would suggest that the MSP is adept at keeping pace with these changes, identifying, and supplying talent with the necessary skills and understanding.
Contractor satisfaction
While NPS traditionally measures client satisfaction, some forward-thinking MSPs also monitor the score from their contractors’ perspective. A robust contractor NPS can underline the MSP’s dedication to fair practices, effective communication, and continuous support.
In the highly specialised and tightly regulated nuclear industry, which faces an ongoing skills shortage, contractors require robust support and understanding of their unique needs. A high NPS can suggest that the MSP is fostering an environment conducive to contractor engagement and productivity.
Similarly, in the utilities sector – an industry often at the forefront of achieving net zero goals – contingent workers handle complex infrastructure and strict regulations. An MSP with a high contractor NPS is likely offering the necessary support, enabling these workers to contribute effectively towards the industry’s net zero targets.
Does it matter?
The importance of NPS cannot be overstated.
Hiring manager satisfaction is paramount. In the energy industry, for instance, the evolving dynamics and increasing shift towards renewables necessitate an agile and knowledgeable workforce. If an MSP has a high NPS, it’s likely they’ve been successful in understanding these nuances and providing suitable talent in a timely manner.
Moreover, in the nuclear industry, where finding qualified candidates quickly is crucial due to its highly specialised nature and ongoing skills shortage, a high NPS can suggest the MSP’s ability to meet these unique and challenging demands.
Contractor satisfaction is equally important. In the energy industry, the transition towards renewables and the push for net zero often necessitates advanced technical expertise and a passion for sustainable practices. Content contractors, as evidenced by a high NPS, are likely to perform better and advocate for the MSP amongst their peers, ensuring a consistent supply of quality contingent labour aligned with net zero goals.
In the nuclear industry, where finding qualified candidates quickly is crucial due to its highly specialised nature and ongoing skills shortage, a high NPS can suggest the MSP’s ability to meet these unique and challenging demands.
How is Rullion doing?
- Our overall NPS score year-to-date for all our MSP accounts is 58.3
- Our overall hiring manager NPS is 39.3
- Our overall contractor NPS is 62.9.
Getting industry specific:
- For one of our leading utilities MSP clients our overall NPS is 83.3
What they had to say: “I love Rullion’s seamless and fast recruitment process. Rullion also maintain a lovely relationship with employees.”
“Kept in the loop every step of the way. Paid on time, easy to complete timesheets and expense claims. Support staff extremely helpful!”
- For one of our leading nuclear MSP clients our overall NPS is 50.9
What they had to say: “You all know what you are doing and can answer any question.”
- And for one of our leading energy MPS clients our overall NPS is 46.3.
What they had to say: “Cannot think of anything that would improve your service.”
To conclude
While NPS is a significant metric, it should not be the only one driving your choice of an MSP. Other factors like industry expertise, range of services, pricing, and technological adoption also matter. Additionally, as NPS is self-reported, it might not entirely capture the MSP’s service quality. Therefore, looking at other client satisfaction metrics, reading reviews, and hearing from current or past clients can provide a more holistic view.
Are you operating in an industry such as nuclear, utilities, or energy, where you have specific goals such as achieving net zero or adapting to changing regulations? If yes, choose an MSP with a proven track record of successfully meeting these demands. Contact us today by filling out the form below to find out more.