In the ever-twisting seas of the business world, haunted by the ghosts of inflation, potential recessions, and the unpredictable currents of workforce uncertainties, companies are hoisting the sails of cost optimization. Enter Tracz Consulting, the swashbucklers of contingent workforce consulting, armed with a strategic approach that ensures savings and a treasure trove of financial benefits. Our consulting fees? Oh, they're the hidden X on the map, consistently leading to a 3-4X ROI—your compass to navigating the stormy seas of economic challenges.
Understanding the Landscape:
Picture this: a ship, your organization, navigating through the vast ocean of managed spend. What's filling your cargo hold? A substantial 30% is dedicated to the contingent workforce—temporary workers, independent contractors, and statement of work providers. These suppliers are the buried treasures, and Tracz Consulting is here to unearth them. But beware, it's a challenging sea with a labor market whirlpool and skill shortage squalls. The need for a strategic approach has never been more critical.
Balancing Act:
Tracz Consulting is not just another crew; we are the maestros of a delicate balancing act. We're not here to merely seek deep discounts and impose tight controls on staffing suppliers. No, we're crafting a symphony of price, service, talent, and program feasibility that's music to your financial ears.
Strategic Approaches for Cost Savings:
Competitive Bidding:
We're not talking about a friendly poker game here; this is a full-fledged treasure hunt. Diversify supplier engagement, avoiding exclusive contracts. Source positions to suppliers aligned by job category and location—let the treasure map guide you. A real-life example: Candidate A, sole-sourced, onboarded at $80.00 per hour; Candidate B, competitively bid, came aboard at $76.00 per hour. Result? A chest full of $8,320 in savings for a 1-year assignment.
In the world of statements of work, trust us to steer you in the right direction. Bidding out to two to three providers can yield more than a 10% cutlass of savings. Set thresholds like $50,000 or $100,000 for spending, and watch the doubloons roll in.
Self-Identified Employer of Record (EOR) Savings:
We're all about hidden treasures, and internal talent sourcing is one of them. Lower markups (22-24%) compared to recruited workers (40-45%)—that's the gold you've been searching for. Analyze the markup delta based on job title and location, and you'll find an average savings chest of 1-2% of your program spend.
Direct Sourcing:
Ahoy there, captain! Traditional methods have you navigating supplier networks, but with Tracz Consulting at the helm, direct sourcing becomes your ship's wheel. Vendor neutrality is our compass, guiding you to cost reduction shores for roles commonly used in your organization.
System Efficiencies:
Let's talk treasure logistics of your program, simple items such as Consolidated invoice and supplier payment outsourcing is one of the stops on a secret map. There are many more! Just ask! Collaborate with your internal AP department, and let's analyze the costs of processing invoices, supplier payments, and AP support. The average cost for a single invoice in the private sector? A mere $18. Measure the cost difference between processing individual invoices versus one consolidated invoice, and voilà —savings can account for up to 2% of your program spend.
Tracz Consulting's strategic suggestions are your compass in these economic waters, ensuring cost savings without walking the plank of compromising relationships with supplier partners. We're not just optimizing program efficiencies but building a fortress of financial resilience against the storm.
In conclusion, Tracz Consulting invites you to embark on an Odyssey in contingent workforce consulting, extended workforce management, and staffing supplier savings. As companies set sail towards fiscal responsibility, our strategic approach guarantees not just cost savings but a journey filled with laughter, adventure, and substantial returns on investment. Yo ho ho, and a bottle of savings!