What can be measured,
can be improved.
With our current state assessment, we evaluate how you acquire, manage, and optimize your contingent workforce. Our data experts uncover hidden efficiencies and unlock improved performance in your labor processes.
Comprehensive Current State Assessment
Every organization is being challenged to reduce spend, to do this organizations across the globe are looking at optimizing processes. Workspend helps companies identify how they can optimize their contingent labor spend through our assessment process, which is a comprehensive understanding of your organization’s existing processes focusing on four pillars: cost, risk, quality and diversity. Through the assessment, you will gain valuable real time insight into your workforce operations enabling you to make informed decisions, identify areas of improvement and ultimately drive success in business.
Streamline Your Assessment in 3 Simple Steps
Step 1. Discover crucial review elements:
• Headcount: To get started, we will need to obtain an accurate count of your contingent workforce across different locations and labor categories through client spend data (if available) and supplier RFI’s.
• Current spend: Evaluate your expenditure on contingent labor, including rates, fees, screens, terms and overall costs.
• Business rules and processes: Document the existing rules, guidelines, and workflows governing contingent workforce management.
• Identifying known inefficiencies: Understand the bottlenecks, challenges, and areas where your current processes fall short.
• Capturing pain points: Document the issues, concerns, and feedback from internal stakeholders regarding contingent workforce management.
Step 2. Data input into WRAP
Workspend will input all collected data into WRAP (Workspend Reporting & Analytics Platform) such as headcount, turnover, skill sets, classification mix, cost structures and financial metrics & compliance/business requirements by supplier & location.
• We will provide a full suite of reporting analytics, along with actionable insights.
• Full access is granted to the WRAP platform for review of analytics, and all data will be provided.
Vendor Capability Report
This report will outline the capabilities and strengths of the current vendors, highlighting their suitability for your contingent labor needs.
Current Workforce Snapshot
Cost Analysis
Recommendation Report
Business Case
The assessment results will form a robust business case, providing a clear rationale for/against adopting an MSP/VMS program, including projected benefits, potential cost savings and risk assessments.
Step 3. Review Comprehensive Business Case
Based on the collected data and analysis, a comprehensive business case will be provided. This will include projected benefits, potential cost savings, and risk assessments.
DELIVERABLES OVERVIEW
1. Spend & Headcount:
• 12-month spend and headcount reports categorized by vendor, location, and labor type.
• 12-month tenure reports categorized by vendor, location, and labor type.
• Analysis of diverse vs non-diverse spend.
2. Cost Savings Recommendations
• Recommendations for cost savings categorized by vendor, location, and labor type.
• Market rate analysis on pay rates to ensure competitive compensation.
• Analysis of markup/bill rates with recommendations for optimization.
• Identification of additional cost-saving opportunities through thorough data analysis.
3. Risk Assessment
• Evaluation of onboarding procedures, including background checks, NDAs, and other client-required documents.
• Analysis of offboarding processes, including system and building access.
• Co-employment analysis to mitigate risks.
• Worker classification assessment covering W2 and 1099 statuses.
• Verification of adequate insurance through a Certificate of Insurance.
4. Quality Overview
• Turnover analysis distinguishing positive versus negative trends.
• Assessment of assignment lengths for optimal workforce management.
5. Supplier Diversity Program
• Recommendations for enhancing supplier diversity programs to foster inclusivity and broaden vendor options.
Tier-1 Diversity
• Workspend is proudly women-owned and led
• Certified minority/women business enterprise
• 100% of program spend categorized as Tier-1 diversity spend
Promote Engagement with Diverse Suppliers
• Provide opportunity for national and local diverse suppliers
• Establish Tier-2 diversity spend goals
Contingent Workforce DE&I
• Align corporate DE&I goals with the contingent workforce
• Establishing goals, monitoring progress, measuring outcomes, and driving continuous improvement
There is no cost associated with this assessment, and there is no obligation to engage with Workspend. The assessment will provide valuable insights into potential changes needed based on the data gathered.
Questions? Contact assessments@workspend.com