“Demand for ‘impactful’ procurement continues to run high, both in terms of managing cost as well as
unleashing the potential of the supply market to differentiate business performance.”
- Deloitte (2016)
33% of companies stated that they spend less than $20 million on a contingent workforce, 25% are paying between $100 million and $300 million, while the rest of 9% are pouring over $300 million. Increased investment in the contingent workforce is directly proportional to business agility. This gives a push for vendor optimization and increases the importance of strong vendor management strategy in companies that are looking forward to procuring a contingent workforce.
Optimizing your pool of vendors can lead to cost reduction, manageable supply chain, and top-notch compliance. While managing vendor relationships and planning a sourcing strategy takes a good amount of time, you can dedicate your time to an ideal vendor preferred from the pool. Also, cutting down on vendor pool will avoid the chances of operational and security risks in the supply chain.
Well, it helps you pick the most reliable vendor who can supply good quality hires, maintain transparent communication, and sustain the supply chain efficiently. Outsourcing your workforce management to Compunnel can spare your team from the possible pitfalls of bad quality hires, and focus on other business goals, while our experts possessing deep industry insights can do the needful.
The procurement and in-house staffing teams are still facing hurdles whenever they are looking forward to hiring contingent workers as they must balance between the two - sourcing the right vendor and sustaining the supply chain management.
Various issues revolving around contracts like legal and other risk mitigation activities in the supply chain need to be taken care of with a compliance strategy that will mitigate risk and deliver successful contingent workers.
Over 25 years, Compunnel has established local experience from a global stage, thus offering end-to-end recruitment solutions for various business verticals. At first, we comprehended the regional business environment and economy to provide services with a high-maintenance approach, and then offer location-specific recruitment teams to run seamless hiring operations in your project sites. Our commercial and geographical insights augment essential worth to our recruitment alliances.
Effective recruitment by Compunnel ensures that the projects are executed on time and within the given budget. The service delivery team at Compunnel can avoid the time-consuming headache and expensive pitfalls of an unsuitable hire.
According to a recent survey by ProcureCon Canada, 65% of CPOs believe that AI and Cognitive Procurement
can be a huge boon for the procurement function, including contracts and negotiations.
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