Managed service company versus agency

[shoes]

Ok yes I do recall hearing the term in reference to a way of operating now that I think about it. But I've heard it in a different context.

I've heard an agent describe their company as a 'managed service company' which apparently means that they are finding people for their clients, but once found there's a contract between the contractors ltd and the endclient, not the usual endclient -> agency -> myltd.

Presumably they charge the client a finders fee. It sounded odd.

It also means that the rate I get is the rate charged to the client, which makes negotiations a little different.

[Alan @ BroomeAffinity]

How have you managed to be a member of this forum since Nov 2006 and not know this?

An MSC looks after your company finances and takes a fee (and is now effectively illegal)

An agency doesn't look after your company finances and takaes a fee (and some might say should be illegal)

[shoes]

Whats the difference?

Admin note: Further reading on managed service companies here.