Find the ROI in Your Contingent Workforce Management Program
When we ask workforce management professionals how they measure return on investment (ROI) in their programs, we frequently learn that they aren’t measuring it at all. This isn’t because they’re neglecting any core duty — it’s simply that workforce management has traditionally been viewed as a necessary expense, rather than as an investment that can itself deliver value.
Want to track down the tremendous benefits that this untapped resource has to offer? Our Global Account Management program is designed to do just that.
A shift in mindset
A lack of compelling requirement means that vendor management system (VMS) software solutions haven’t been treated like investments in the same way as other business management solutions, such as SAP or Oracle implementations. VMS isn’t assumed to have the same business-wide impact, so it isn’t scrutinized for ROI. VMS software solutions are viewed as “nice to have,” but not essential.
That’s a shame.
In today’s workplace, a VMS is no longer optional — it’s critical for managing spending and assuring compliance. If you’re not using that software to its full potential, you’re leaving money on the table. It’s as simple as that.
If you can shift your mindset and change the way you think about VMS solutions, you’ll find not just opportunities to reduce cost, but also ways to deliver measurable ROI.
Imagine that your company is planning to build a new facility in Topeka, Kansas. When you start to look at talent sourcing, however, you discover the workforce with the skills you need is centered around Lawrence, Kansas. Why build your facility where people aren’t available? Your company may decide it’s more cost-effective to reconsider the location of the facility.
Of course, there’s plenty of data you already have access to that you might not have had the capability to utilize before. For example, you know you want to grow your workforce globally, but you’re not sure which area of the globe you should focus your efforts on first. By using the predictive analytics features of IQN Compass, you can use the data you already have to predict which location investment will bring you the biggest value.
The beauty of IQNavigator is that this high-value information isn’t just buried somewhere in a data warehouse. You don’t need to know how to “mine” data to use it. IQNavigator brings that data to the surface and makes it immediately accessible. It’s right there — all you have to do is use it.
The benefits of Global Account Management
The Global Account Management team starts by gaining a deep understanding of your business: your objectives, your strategies and your global needs. Using our “game toolbox,” we put together a program that matures your program across the board, identifying where the savings are and then continually focusing on growing and improving those gains.
Each “tool” in this toolbox offers another opportunity to increase your program’s ROI. You’ll get incremental value as you take advantage of offerings such as:
Still, not all customers are ready to engage. Maturing your program means making more use and better use of the tools you have — not just using your VMS as a search tool, but as a true business development solution that can deliver significant ROI.
You have unlimited access to your Global Account Manager, and all the tools in their toolkit are available to you. That increased ROI can be yours — all you have to do is reach out and grab it.
[cta]We invite you to be an active part of the IQN Community! Share your questions, concerns, insights and creativity by contacting events@iqnavigator.com.[/cta]
