HRO Today November 2016 - 44

MSP
The data truly comes
to life when analyzed
by program owners to
extract the actionable
insights to inform
program policies,
processes, and
direction.
-Jill Parrino, GRI
more interested in metrics related to spend and savings, "
explains Weiner. " That said, in the most successful
programs, these interests intersect. For instance, HR
may be interested in the cause of turnover and the
impact on workforce planning while procurement may
be interested in the cost of turnover. By monitoring all
aspects of this metric, both HR and procurement can have
the opportunity to control turnover and the associated
cost. "
53%
of best-in-class organizations convert
contingent labor data into usable
intelligence.
Source: Ardent Partners
[44]
HRO TODAY MAGAZINE
| NOVEMBER 2016
Challenges Conquered
Organizations that leverage data can get ahead
of the game when it comes to contingent labor
management. Gordon Steele, vice president of
managed services for Bartech Group, explains that
workforce planning traditionally uses reporting to
answer questions including:
* What skills do I have?
* What skills do I need?
* What gaps will I face?
* How will I fill those gaps in the most costeffectively?
But,
he says, today's organizations can leverage
advanced algorithms to obtain even greater insight
into each of the challenges. For example, to help
understand the gaps organizations will face, analytics
can proactively anticipate premature employee
turnover and develop preventative measures.
For filling gaps, today's technology and advanced
algorithms can keep costs low by providing the
right mix of labor from multiple sources: fulltime
equivalents (FTEs), contract labor and labor
embedded in Statements of Work (SOW).
Gaining visibility into spend can also provide key insight
into supplier relationships. " The key to optimal spend
management is pulling as many suppliers and nonemployee
labor channels into view as possible, " says
Parrino. " This should not be limited to only traditional
staffing suppliers. It should also include payrolling
vendors, independent contractors/freelancers,
project-based/SOW workers, and any other applicable
engagement paths. Gaining visibility into all sources
will enable decision-making around processes to source
workers through the optimal channel. Decisions can
be made around the ideal number of suppliers to best
leverage overall spend, sunsetting of underperforming
suppliers, need to control costs more aggressively for
certain job titles or locations. "
In addition to the connection of spend and suppliers,
analyzing costs can provide insight into quality of work.
" Tracking price alone loses sight of the bigger and more

HRO Today November 2016

Table of Contents for the Digital Edition of HRO Today November 2016

HRO Today November 2016 - 1
HRO Today November 2016 - 2
HRO Today November 2016 - 3
HRO Today November 2016 - 4
HRO Today November 2016 - 5
HRO Today November 2016 - 6
HRO Today November 2016 - 7
HRO Today November 2016 - 8
HRO Today November 2016 - 9
HRO Today November 2016 - 10
HRO Today November 2016 - 11
HRO Today November 2016 - 12
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HRO Today November 2016 - 14
HRO Today November 2016 - 15
HRO Today November 2016 - 16
HRO Today November 2016 - 17
HRO Today November 2016 - 18
HRO Today November 2016 - 19
HRO Today November 2016 - 20
HRO Today November 2016 - 21
HRO Today November 2016 - 22
HRO Today November 2016 - 23
HRO Today November 2016 - 24
HRO Today November 2016 - 25
HRO Today November 2016 - 26
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