As organizations continue to expand the use of contract talent to supplement their full-time workforce, they are also seeking ways to optimize their contingent workforce programs (additional cost-savings and operational efﬁciencies). One strategy companies are using to realize a number of beneﬁts is through self-sourcing.
The largest global provider of integrated information technology and digital marketing solutions to the automotive retail industry recently embraced this model. It is self-sourcing contingent workers via a Vendor Management System (VMS) to identify and procure talent. The primary drivers that inﬂuenced this organization to adopt a self-sourcing strategy and partner with a VMS and Managed Services Provider (MSP) included:
After deploying a vendor-neutral and integrated contingent workforce solution, the company immediately reduced and contained contingent labor costs, mitigated risk of contractors, and improved its user experience. Most notably, this self-sourcing strategy resulted in $1.6M savings in a five month timeframe.
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