Procurement departments are all about acquiring the various things a company needs to operate effectively and ultimately succeed. Improving efficiency, reducing costs, and optimizing office space are vital for long-term business success.
One of your procurement team’s fundamental priorities is to make these acquisitions with maximum cost-effectiveness.
You'll be in a much better position to control your spend and maximize your workforce if you have a strong understanding of :
- where you currently stand,
- how to optimize business costs
- and where you have opportunities to drive productivity.
Randstad offers bespoke solutions that address your business needs in a range of industries. We specialize in meeting high-volume hiring needs for your procurement team's contingent talent strategy, driving cost savings across your entire workforce.
We design our services to increase employee productivity, save money, and implement an effective cost reduction strategy.
So, what methods can we offer to help your business reduce total workforce expenses, increase profits, and become more energy-efficient?
in-depth understanding of your business
We identify the areas where you have the greatest opportunity to optimize costs and be more financially efficient. But first you need to have a strong understanding of the position your business is currently in, including :
- how to improve efficiency,
- reduce waste,
- and identify opportunities for cost reduction.
We support you by providing insights and conducting an in-depth business scan. This involves dedicated Randstad process managers, also known as workforce analysts, working closely with stakeholders from various areas of your company - including management, training, operations, HR and procurement - to build a picture of where you stand right now, where you want to be in the future, and the steps you can take to reach your goals.
Your dedicated process manager will assist your business in gaining a better understanding of workforce operations by asking questions like:
- What are your key business objectives? Do you want to increase revenue, reduce costs, or both?
- How do these goals connect to your workforce?
- How do you approach recruitment? What steps involve finding and selecting candidates, and how much does this cost?
- What are you spending on vital new-hire activities like induction, onboarding and training?
- How do you decide how many people you need?
- What costs do you face as a result of absenteeism and staff turnover?
Based on this fundamental understanding of the current status of your business - known as your 'zero measurement' - we can identify the most effective actions to drive efficiency and optimize your costs.
cutting costs without sacrificing productivity
onboarding
One of the most common ways we reduce costs is by improving your onboarding process. Effective onboarding is vital. It ensures new staff are comfortable and productive quickly.
For larger businesses that frequently rely on contingent staff, regular onboarding can be expensive. This is particularly true if not done in a cost-effective manner.
Randstad's expertise allows us to take over your onboarding process and optimize it efficiently. We achieve this by deploying technology, such as automation, to save time and optimize resources.
training and development
Overtraining is a particularly common issue. Are you wasting time and money on equipping people with skills that aren't essential for their roles? We can help you identify these inefficiencies and offer advice on how to optimize your training.
turnover
Another common goal is controlling staff turnover, which can be particularly relevant for the procurement department.
After all, if you can retain your valuable staff for as long as possible, the amount you spend on recruiting, onboarding and training new staff will be reduced.
Managing expenses is crucial, particularly in industries such as car manufacturing or pharmaceuticals. In these industries, new employees often require extensive training and preparation before they can start being productive.
To reduce turnover, it's important to hire people who have the right skills, experience, and fit well with your company culture. This will help prevent them from leaving soon after joining.
technology
Technology is key to optimize your processes. We can help you find the best employees. We use automated screening, unique interview methods, and a pool of trusted, experienced candidates.
Efficient scheduling helps you make the most of available resources and optimize workforce utilization. Crucially, methods like these make it possible for you to save time and reduce costs, without sacrificing productivity.
our history of proven results
Our approach centres on understanding your workforce and identifying opportunities to minimize costs without losing productivity. It’s delivered results for businesses in a range of industries around the world.
We’re currently working on cost savings programs with more than 800 companies around the world, helping them achieve reductions of at least 2% to 3% in their total workforce spend.