Contingent Workforce Management Solutions
Magnit is a global provider of integrated services and technology for contingent workforce programs. The company utilizes a combination of proprietary artificial intelligence and human-led strategic advisory to manage non-employee labor strategies.
Their core platform includes a Vendor Management System (VMS), which provides visibility into contingent labor spend, automates workflows, and facilitates global reporting. Magnit serves over 600 clients across 130 countries, managing a network that encompasses hundreds of thousands of workers and over 14,000 staffing partners.
The company's primary offerings include Managed Service Provider (MSP) programs, which handle end-to-end workforce management from sourcing to offboarding. Their Direct Sourcing solutions enable enterprises to curate private talent pools under their own brand, while their Employer of Record (EOR) services ensure compliance and streamlined payroll for workers in diverse geographic locations.
Additionally, Magnit provides Services Procurement to centralize Statement of Work (SOW) engagements and Shift-Based Workforce Management for high-volume, automated scheduling needs.
A significant differentiator for the organization is its Pay Intelligence tool, which leverages a large real-time compensation benchmarking data set to help businesses determine competitive global pay rates. Magnit also offers specialized Strategic Advisory and Diversity, Equity & Inclusion (DEI) solutions specifically designed for the contingent labor sector.
By integrating these services, the company helps organizations mitigate compliance risks, reduce sourcing costs, and improve the overall worker experience through data-driven precision and centralized oversight.