Strategic Sourcing Services for Human Resources
Human Resource departments are challenged with standardizing and streamlining a variety of processes to support their organization. The role of HR is ever evolving, taking on additional tasks while remaining focused on managing the organization’s talent and helping the workforce evolve to the present and future environments.
The HR team plays a strategic role in companies, creating and fostering a culture that drives the organization’s performance. However, the HR team’s time is limited and it can be difficult for them to find time outside of improving the talent pool to help deliver additional value to the organization’s bottom line.
Source One has the resources and expertise to help HR increase employee engagement while generating cost savings and value through our benchmarking and strategic sourcing services. Our strategic sourcing experts can assist organizations in building business strategies, reducing administration costs, and implementing a roadmap to manage and optimize the strategic goals of Human Resources.
Source One has assisted many of our clients manage their spend across various HR categories, which include:
- Employee Recognition Programs
- Employment Screening Services
- Insurance and Benefit Programs
- Payroll Processing
- Relocation Services
- Talent Consulting Programs
- Temporary Staffing and Contract Labor Staffing
- Vendor Management Systems (VMS)
Our strategic sourcing consultants focus on the unique needs of your organization, developing and providing a customized approach for your HR department to drive cost savings and value. This approach includes:
A detailed spend analysis and contract audit to understand your profile and requirements. Based on this initial spend analysis, our sourcing team can prepare a strategy report with recommendations specific to your company.
Benchmarking services using our internal market intelligence to provide you with critical insight into how your current organization compares to your peers and competitors, as well as specific recommendations based on our expertise in the HR industry.
Full strategic sourcing initiatives encompassing market research, vendor identification, RFx, contract negotiations, recommendations, program implementation assistance, and ongoing audit and continuous improvement services.
The results of our process go beyond cost savings. Source One looks to help demonstrate the value of HR programs to your organization. As part of our overall service offering, we work with HR teams to manage and build relationships with your providers to create value to your organization. Our consultants work with the HR team to understand your requirements and adapt to your culture. Source One will provide recommendations to optimize the solutions you have in place and will leverage our unparalleled market intelligence to work with incumbent or alternate providers to develop best in class HR programs.
Strategic Sourcing Success in Human Resources
A Case Study
The world’s largest GPO engaged Source One to develop a category offering for employment screening services. The offering had to be comprehensive to meet the requirements of the GPO’s global membership that covered multiple industries from manufacturing to financial institutions.
A committee of GPO members was established to participate in the sourcing process and a thorough data collection and interview process took place. Each member organization’s HR group was engaged to develop a list of criteria it required for an employment screening provider, including a long list of background checks and drug screening, national and international turnaround times, and compatibility with current applicant tracking systems. Once data collection was complete, our strategic sourcing team conducted an RFI and RFP process to select finalists to present their capabilities in greater detail through onsite presentations to the committee and GPO executives.
Source One’s final negotiations resulted in an average savings of 26% across the committee of members. Our skilled strategic sourcing team was able to implement a single source provider for all GPO members that allowed them to create customizable employment screening programs based on each member’s requirements, provide a single point of contact for the members, and deliver custom reports and guaranteed service levels.