Blog

Ask the Right Questions for the Perfect Workforce Management Solution

Nov 4, 2016 12:04:46 PM

It can be overwhelming deciding what type of workforce management solution will best accommodate the needs of your unique organization. Even when you’ve zeroed in on the right kind of solution, the question becomes how do you decide which provider is best suited to deliver what you need? Any workforce management program champion should consider these two fundamental questions carefully at the outset, because the consequences of poorly planned actions in this regard can be costly and damaging. Here are some broad stroke suggestions for arriving at the perfect workforce management solution.

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Topics: Blog, Procurement Services

Statement of Work: A Procurement Professional's Step-by-Step Guide to Contract Hiring

Jul 21, 2016 12:32:24 PM

It is commonly accepted that the cost of SOW-based services is estimated to be 200% to 400% greater than the spend associated with an organization’s staff augmentation workforce. This is due, in part, to the fact that many organizations have yet to tackle the management of SOW spend, and because the type of labor being engaged (and the work being performed) is often of a higher caliber, and involves more strategic relationships with the organizations’ executive leaders. Clearly, the SOW hiring process cannot simply be a modified version of those used to hire staff augmentation resources. Here’s what you need to know when embarking on a plan to hire SOW-based services.

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Topics: Blog, Procurement Services

Breakdown of an Independent Contractor Rate Calculation

Jul 20, 2016 4:42:54 PM

Procurement and supply chain professionals often develop a fairly accurate understanding of their vendors’ costs because often they are buying the same or similar products from competing providers. When it comes to contingent labor purchasing, Procurement pros rely on VMS systems to provide that cost visibility into the respective pay rates of a organization’s staff augmentation contractors (as we explained in detail in this recent post). With this information on hand, organizations can regulate mark-ups within acceptable budgetary restrictions while still allowing for their staffing partners to make profit above their operating costs. However, understanding the costs of doing business incurred by ICs is a much more variable proposition. This piece will examine how a Procurement pro can arrive at educated estimates of their ICs costs so they may strike mutually beneficial agreements with ICs too.

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Topics: Blog, Procurement Services

Identifying Contingent Worker Cost Savings Without Affecting Supplier Partners

Jun 8, 2016 1:52:09 PM

It is not uncommon for an organization to allocate up to 30% of its managed services spend to the contingent workforce. This is why procurement departments seeking deep discounts and tighter cost controls frequently target the suppliers supporting these programs. While procurement organizations continue to look for cost savings, the market has experienced a significant shift in recent years. Today’s environment exhibits lower unemployment and higher overall contingent worker usage. Additionally staffing suppliers are absorbing new costs such as those stemming from the Affordable Care Act and other increased statutory costs.

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Topics: Blog, MSP/VMS, Procurement Services, EOR Services

4 Ways to Improve Your Services Procurement Strategy With VMS

May 26, 2016 9:51:32 AM

Most companies today already enjoy well established procurement strategies yielding varying levels of results. However, there are a few successful themes that strong procurement organizations share which are tried and true. Building your procurement strategy around these four core themes is almost guaranteed to drive the results sought by those tasked with sourcing and engaging contingent workforce resources. Here are these time-honored four themes as they relate specifically to the utilization of Vendor Management System technologies.

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Topics: Blog, Procurement Services

The Relationship Between IC Compliance and Spend Management

May 24, 2016 11:13:15 AM

“Supply Chain Celebrity” Jason Busch has a great blog about all things supply chain related called, “Spend Matters”. They often have good information about strengthening indirect or services procurement. And the name of the site gets it right. Spend absolutely does matter. Spend management is the way companies control and optimize the money they spend on all procurement activities, with the goal of yielding savings to their organization while increasing quality. So why does spend management matter to the workforce management professional?

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Topics: Blog, Compliance Services, Procurement Services

Why Procurement Must Improve Awareness of Worker Classification

May 4, 2016 4:13:55 PM

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Experts predict the managed services market will nearly double over the next five years, reaching a whopping $193 billion by 2019! Now more than ever procurement and contingent workforce managers must begin to understand and prepare for the challenges facing proper management of managed services as an element of an overall workforce plan. By better understanding their contingent workforce and becoming a more significant part of the process, Procurement will gain greater access to the information they need to deliver high financial impact; contributing to their organizations’ bottom line. Part of this financial impact are the often unseen but no less important savings captured by cost avoidance. Particularly as it relates to worker classification challenges while using managed service providers to source and administer ICs.

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Topics: Blog, Compliance Services, Procurement Services

nextSource Anticipates VMSA Live: Florida 2016

Feb 3, 2016 2:49:35 PM

There’s nothing more effective in the pursuit of continuous professional innovation and improvement than convening with colleagues, customers and even competitors to exchange ideas, learn new strategies and soak oneself in an environment rich with thought leaders. It’s even more effective when there is the opportunity to soak oneself in the warm waters of the Atlantic in Fort Lauderdale, Florida. For this dual purpose (with an overwhelming emphasis on the first soaking), nextSource is very excited to be attending, exhibiting and participating in the VMSA Live: Florida 2016 beginning next week, from February 8th through the 11th.

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Topics: Blog, Procurement Services