Lorien delivered a hybrid MSP solution for an international bank looking for a strategic recruitment partner. We successfully achieved targets set and took responsibility for overseas workers. Explore more of the solution in this case study below.
In the first 6 months after go-live we successfully migrated all contingent workers over to our hybrid MSP model. This included implementing a new timesheet and invoicing system (Fieldglass), performing a supply chain rationalisation exercise to reduce the number of inefficient legacy suppliers, and create consolidated invoicing for the business. We also took responsibility for nearshore (Spain, Portugal, Poland & Greece) and offshore (India) workers.
Our solution continued to evolve with the business and we worked towards a targeted sourcing approach in order to meet diversity targets, specifically increasing the number of female hires from black heritage backgrounds.
We implemented a number of cost saving measures such as reduced rates for payroll workers and an increased focus on direct sourcing.
We created a dedicated account team under an experienced Client Services Director, who is responsible for the overall management of the account and its’ governance. The Client Services Director has overall responsibility for the delivery of the of the contingent worker MSP and the SOW spend management and administration service, ensuring that they are delivered against the agreed expectations and that they continue to evolve as the service matures and the market changes. One of the key roles of the Client Services Director is to ensure that we have the right resources in the Account team, to ensure that we deliver our objectives in the most effective way. A part of this, the Client Services Director, supported by our wide-reaching info and analytics tools, is also responsible for ensuring that they have a strong understanding of how the contingent workforce and SOW market is evolving and to proactively build strategies and make recommendations about how we can keep the customer at the forefront of the market.
The Account Team report into the Client Services Director and is responsible for delivery of cost savings programmes, quality assurance, spend creep management, adherence to SLAs, and compliance within our MSP solution for the customer. They have a key role in ensuring that hiring managers follow the correct sourcing route in order to drive best practice, quality and cost savings. They ensure that high quality contingent workers, who have a track record of successful delivery within the business, are wherever possible, redeployed within the bank. In addition, they monitor supply chain compliance and adoption. This is beneficial to client stakeholders as time to hire is significantly reduced and on-boarding has already been completed, meaning the time taken for the worker to be embedded within the new team is significantly reduced, as well as delivering an excellent candidate experience.
Since the start of our service we have successfully implemented a number of cost savings measures, including a focus on direct sourcing. Data quality and reporting were key focal points for this customer. We implemented Fieldglass due to its reporting functionality, as well as its capability to create consolidated invoicing.
The Account team provides detailed monthly account reporting to ensure we are achieving KPIs and are aware of any areas for improvement. Within the first quarter of our MSP service delivery we successfully achieved or exceeded our targets including time to start and average time to shortlist candidates.
Reducing the clients recruitment budget excessively by cutting any unnecessary costs throughout the initial contract duration and reducing time to hire 13% beyond target and time to shortlist by 2 days beyond target.