How we saved our client 4% of their overall contingent workforce spend in 1 Year
Our client is the local arm of a leading global insurance and financial services organisation providing a wide range of life, personal wealth and general business insurance products and services.
Our client was looking for a partner to support and improve the management of their contingent workforce.
They needed help to:
- Deliver cost savings
- Ensure oversight of the entire contingent workforce category process
- Address and mitigate future co-employment risks
- Review & re-establish contractor sourcing agreements
- Implemented a standardised rate card, standardised margin and tenure margin reduction
- Candidate Care Program that increased contractor engagement and productivity
- Built and managed Bespoke VMS / ATS
- 24 / 7 real-time reporting built to order
- NPS tracking and reporting for continuous improvement
- Single point of contact for all contractors and queries
- WHS Management for contingent workforce
- Centralised Invoicing
- Advisory Services across; compliance, workplace law, worker engagement practices, diversity & inclusion, supplier & contract reviews, market intelligence etc.
$1.5M in cost savings achieved in the first year
Visibility of entire contingent workforce and costs per cost centres
Visibility of supplier performance
Reduction in suppliers from 21 to 13
Increased Hiring Manager satisfaction to 63% (industry avg. is 24%)
$739K added value at no cost to the client
Reduction in contractor churn by 14%