Strategic Sourcing for Corporate Relocation Services Cost Reduction
A well-developed and comprehensive relocation program is an asset that can be leveraged to attract new talent, or incentivize existing talent to relocate. If you are concerned with how to manage your relocation program, Source One’s relocation cost reduction experts are the ideal choice in identifying and supporting you through the process to meet your requirements and control costs.
As globalization continues to decentralize many business units, it is critical to have the right employees in the right markets. But the relocation process can be difficult for your employees and HR department. By engaging a corporate relocation management partner, HR professionals are able to design a comprehensive policy and program that mitigates exceptions and meets your employees’ needs. In addition to providing your employees with an expert point of contact available to assist with any home sale and relocation questions, this partner can assist with the management and execution of your relocation program to understand and overcome challenges.
Human Resources departments must consider the cost of their relocation program, while also attempting to create a comprehensive policy structure that demonstrates their business’ commitment to that relocating employee. Whether you are looking for a full-service agency, or a partner to meet a more specific relocation need, it is critical to identify your current and future needs, and how they can be met. Source One’s Relocation Services cost reduction experts can help.
Recognizing what your business needs is the first step in choosing the proper partner. As with any other department, Human Resources is tasked with reducing costs while providing a superior service. In collaborating with a relocation agency, an HR Department is able to increase flexibility, and ensure consistency in messaging. Source One’s relocation strategic sourcing experts understand that since these agencies can vary greatly in scope, therefore it is crucial to understand what services will be utilized, and which may provide additional value. By consolidating your relocation program under one provider, inefficiencies can be eliminated and savings can be realized.
While the need for relocations increases, the identification and subsequent eliminations of any inefficiency will increase potential savings. Agencies excel in their ability to assist in the creation of a comprehensive policy that will minimize exceptions, and provide expedited support. Further, value-added services such as pre-decision support allow an agency to identify high-potential relocation employees, while minimizing the risk in relocation.
The steps that Source One’s Relocation Cost Reduction experts follow to choose the most appropriate agency are as follows:
- Internally evaluate your current and future relocation needs, and the type of culture you expect with a new partner.
- Establish a clear scope of work, identifying what services your business will require and how a corporate relocation agency will service those needs.
- Develop and execute an RFP to assess the suppliers capabilities and expertise.
- Analyze the supplier responses and score them, in an effort to determine the firm with the best fit (based on a predetermined set of criteria).
- Negotiate pricing structure and contract terms based on your needs and current market intelligence.
- Create a transparent compensation structure outlining hourly rates, markups, and other expenses.
- Implement contract and ensure service levels and overall client expectations are met.
Source One’s relocation strategic sourcing experts will conduct the research necessary to identify the agency with the greatest potential of meeting and exceeding your needs. Our Relocation cost reduction analysts provide reports far more customized and detailed than the standard offerings. These reports, which we generate using our years or experience and a variety of data recourses, contain actionable recommendations that provide long-term strategies to assist you in choosing the correct relocation services agency. For firms just looking to hire a new corporate relocation partner, or for firms who have been partnered with the same agency for some time, it is critical to perform benchmarking events. Whether you need your current contract renewed, or you are unsure of how a potential pricing strategy compares to the market, Source One’s cost reduction experts are available to assist you in performing an analysis. Our extensive databases of Relocation Services price points coupled with our decades of experience and expertise enable us to provide impactful and actionable recommendations.
Source One’s Relocation Spend Management team understands the critical nature of choosing the right corporate relocation agency. Our sourcing and cost reduction experts have the capability and experience to ensure that you find and collaborate with the partner that best serves your needs. Contact our Corporate Relocation Spend Management experts today to find out more.
HR Category Expertise
Increase employee engagement while generating cost savings and value through Source One’s benchmarking and strategic sourcing services.
Source One’s team of strategic sourcing professionals and human resources category managers 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’s procurement and strategic sourcing team cover your current temporary labor program to negotiating new software agreements for your HRIS.
HR Category Management Experts
Insurance and Benefits
Companies today clearly understand the need to offer competitive healthcare benefits to its employees and enhance the quality of life for its members. At the same time, the best-managed companies know that they must be able to secure those benefits at a competitive price and in a sustainable way. To do this, they require the support of qualified global health and welfare broker(s) / consultant(s) who can:
- Grow and adapt as the business changes
- Proactively identify opportunities to control costs and enhance value
- Understand the complexities of mergers and acquisitions and international growth, compliance, and regulations
- Assure the highest value for dollar
Source One’s Insurance and Benefits category management experts provide a fresh set of eyes, backed by our proprietary market intelligence, to secure you a competitive market analysis on your programs, fees, and providers – and the alternative processes, plans, and providers you can pursue to secure the most value for your dollar while minimizing risk.
Benefits and Insurance Category Expertise
Contingent Labor Cost Management
Within the complex Temp Staffing / Contingent Labor categories, best-in-class companies seek to increase spend visibility and controls, drive standardization and compliance, and leverage volume and drive cost savings and efficiencies. They turn to Source One’s category and cost reduction experts to help right-size requirements, identify and qualify suppliers, and secure the optimum rates, terms, and conditions to ensure uninterrupted value to the business.
Sample criteria include:
- Controlled Mark-Ups
- Compliance Tracking
- Reporting Capabilities
- Time Keeping System
- Rate Card Development
- System of Record Management
- Consolidated Invoicing
- Resource Management
Lean on our category and industry expertise in this difficult-to-navigate yet critical area of spend.
Temp Staffing Cost Reduction Expertise