Procurement departments are all about acquiring the various things a company needs to operate effectively and ultimately succeed. One of your procurement team’s fundamental priorities is to make these acquisitions with maximum cost-effectiveness.
As far as your labour force is concerned, 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 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 your high-volume hiring needs to support your procurement team's contingent talent strategy, using methods that drive cost savings across your labour force as a whole. So what are those methods, and how can we help your business reduce your total workforce spend?
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.
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 process manager will be assigned specifically to your business and will help you gain a better understanding of your workforce operations by asking vital 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 are involved in 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
One of the most common ways we reduce costs is by improving your onboarding process. Effective onboarding is vital, so you can ensure new staff are comfortable in your workplace and prepared to reach a high level of productivity as quickly as possible. For larger businesses that frequently rely on contingent staff, regular onboarding can also be very expensive, especially if you're not going about it in the most cost-effective way. Randstad's experience and knowledge in this area means our team can take over your onboarding process and make it as efficient as possible. One way this is achieved is through deploying technology, like automation, to save time and optimize your 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 and they might not even use? We can help you identify these inefficiencies and offer advice on how to optimize your training.
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. It's vital to keep these costs under control, particularly in industries like automotive manufacturing or the pharmaceutical sector, where a lot of training and preparation is often required before new recruits reach an acceptable level of productivity. One of the most effective ways to limit turnover is by ensuring, from the very beginning, that you're hiring people who not only have the right skills and experience, but are well-suited to your company culture and unlikely to leave shortly after joining.
Technology is key to optimize your processes. We can help you make the right hires by offering advantages including automated candidate screening, innovative interview techniques and access to a pre-vetted pool of trusted, experienced talent. Efficient workforce scheduling is another key process that can help you ensure you're making the best use of the resources available to you. 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.