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In a competitive market, shaped by disruption, companies are increasingly reviewing their human capital strategies. This strategic shift is visible in the rising share of temporary staffing in the U.S. workforce. About one-third of all jobs in the U.S. were filled by a pool of ‘non-employees’ that offer either on-demand access to niche skills or a need-based workforce that helps achieve cost efficiencies. Whatever the compulsions — tactical or strategic — companies will continue to invest in the contingent workforce to scale their teams.
Two of our clients, a financial services company and a technology manufacturing company, were employing a significant number of temporary staff. While both the clients were benefitting from incumbent third-party suppliers, we identified areas that required immediate remedial measures:
The financial services company’s supplier was offering legacy rates, charging irrational markup premiums and a cost structure that wasn’t competitive
The technology manufacturer’s supplier wasn’t offering tenure discounts for temporary staff employed for more than a year. Moreover, the supplier was charging significant markups across categories that required immediate market corrections
We deployed our comprehensive strategic-sourcing methodologies to execute customized solutions for both the clients. In the process, we partnered with their internal stakeholders to implement a category management process that delivered substantial cost savings. While the contingent workforce may move on, the structural changes that our solutions enabled will continue to deliver measurable value for a long time.