Where does your contingent workforce management (CWM) program stack up against the IQNavigator community of CWM programs? You will have a great opportunity to compare your program against peers in both your industry and with similar annual spend at this year’s IQNsiders event.
To help you break the ice, I have compiled two to three industry benchmarks on CWM program maturity that will provide for some great discussion during networking and breakout sessions this year in Phoenix. These benchmarks include comparisons of several common CWM program statistics, as a means of exposing differences in program definitions, program objectives, and their related sourcing strategies. Continue reading
You’ve heard it before: time is money. This has never been truer for contingent workforce programs. In the first installment of our “VMS 101” series (Connecting Business to Temporary Labor), we identified seven primary benefits of managing your temporary labor program by leveraging a VMS. Today, let’s focus on cost savings. Looking at your enterprise goals for 2015, chances are, cost savings made the list in one form or another.
Have you thought about where to begin? I’m not talking about reducing headcount, rather, how do you plan to effectively reduce overall expenditures without reducing headcount? And how do you do it if your demand for temporary labor increases?
Faced with growth, enterprise HR and procurement organizations are spending more time, money, and resources on sourcing and procuring services. At the same time, companies facing a decline in revenues (think oil and gas today) are forced to cut spend and reduce costs. This is why more and more procurement organizations are tasked with identifying ways to control their services spend. It’s vital to connect the business to temporary labor—through understanding, identifying and appropriately controlling and reducing spend. Continue reading
My mission: Educate you on VMS as I, being “the new guy” to this industry, learn about it myself. What better way than a VMS 101 Blog Series!
A little bit about me before we jump in: My name is Louay Bachir. My background is in technology and software marketing and sales (both by education and trade). I am a Colorado native, but I don’t flaunt it with a bumper sticker! I joined IQNavigator in July of 2014. Being new to the company and the industry, I have learned a lot in a short amount of time and am still picking up more each day. There’s a lot to learn in the Vendor Management System (VMS) industry, and I thought it would be helpful to write about the journey for others who are on the same path. So, let’s jump in to the first installment of the VMS 101 Blog Series.
So You Think You Can Dance…With a Contingent Worker?
So you think you can dance with a contingent worker? What about 5,000? If you answered “no,” you may just change your mind after reading this. If you answered “yes,” well, I hope you don’t get your feet trampled!
This blog series isn’t about dancing (sorry if I let you down), but rather, how to understand, manage and control your company’s growing contingent labor program. Think this doesn’t apply to you? Read on! Continue reading
“FIRE, READY, AIM!”
Isn’t this so true of how people often approach business problems? Most of us have no shortage of good examples where well-intentioned efforts to solve a problem in a hurry before fully understanding the root problem just made things worse (or at least delayed the desired outcome). Often this is a symptom of panic in the light of inexperience, combined with the strong instincts most business leaders have to “fix the problem.”
The spend management equivalent to this phenomenon is “strategy, control, visibility.” Having been on the procurement side of an unsegmented, out-of-control spend category, I appreciate that there is a tendency to want to be strategically minded right out of the gate. Only one problem: like firing blindly into the air, setting strategies too soon has little chance of hitting the target. I myself (early in my career, mind you) have made the mistake of putting strategy before visibility and control and paid the price: wasted time and effort, frustrated business managers and suppliers, and anemic compliance and adaption. I can still feel the bruises!
IN POKER THEY CALL IT A “TELL”
I like to think I am a little wiser now than when I entered the sourcing and procurement space 15+ years ago. So today, when I am asked for guidance on how to quickly or easily identify spend management opportunities or how to assess an organization’s readiness for program expansion (i.e. from temporary labor into SOW-based services) my first response is “what questions do you have?” And I mean that literally.
The type of spend or vendor-related questions being asked in an organization is the tell (a behavior, manner of speaking or words used that gives clues to the underlying condition). To demonstrate this point, look at these two different sets of questions: Continue reading
Anne Zelenka, IQNavigator’s VP of Data Science, shares the details about IQN Labs and how it will help companies better manage their contingent workforce.