How can a vendor neutral managed service save you thousands of ££££
Vendor Neutral Management is perfect for organisations with a large temporary or flexible workforce, providing the opportunity to benefit from a broad supply chain with the benefits of a single supplier out the usual challenges – and you can also rest safe in the knowledge that your suppliers are being continuously audited for performance, compliance, fulfillment ratios, pricing and candidate quality.
There are a number of benefits to using a Vendor Neutral recruitment model, from saving time, to increased legal compliance and significant cost savings – sometimes saving up to 12% of spend. Below are 4 of the top ways that utilising Vendor Neutral Management can help you save thousands of pounds:
1. Visibility & Control
By managing the recruitment process from order to invoice, a vendor neutral will provide complete visibility and control. Vacancies can be added to an online recruitment software and distributed to agencies, or hiring Managers can contact the Recruitment Team, who will liaise directly with agencies to ensure that vacancies are filled.
All hours are tracked using online recruitment software, and vacancies can be authorised and approved, as well as invoices generated and sent electronically. Management information is generated in real-time, with breakdowns of spend by site, agency, worker category, and tenure for the Agency Workers Regulations, demographic information, time to fill, and rights to work in the UK.
2. Legal Compliance
The online recruitment software stores information such as rights to work in the UK, driving licences, health and safety training, and tenure in accordance with Agency Workers Regulations requirements. A neutral vendor will also audit each agency independently to ensure legal compliance. These audits are completed at least every six months and are face to face at the branch level, going into detail on every candidate record placed with the clients during that time period.
3. Supplier Management
Based on a client's existing agency providers, a panel of agencies will be proposed and agreed upon, reducing the risk of change. The agencies will be assessed based on process, financial stability, geographic coverage, and legal compliance, and a panel of suppliers will be selected for each site, business unit, or division. Where there is a supplier shortage, new ones will be proposed based on previous experience.
4. Cost Savings Direct Savings
A vendor neutral can help you achieve direct cost savings of 6% to 12% by standardising pay rates and margins and eliminating overcharging on Employers National Insurance and Holiday Pay, which agencies frequently miscalculate. Indirect Savings - Indirect savings will be delivered by consolidating all invoices into a single weekly invoice. This invoice will be pre-approved and will be downloaded automatically via CSV into a client's back office system.