CASE STUDY: Supporting a Consultant Conversion Programme for a Global Bank
Resource Solutions collaborated with a global banking and financial services client to assist with consultancy conversion and a Cost-to-Hire initiative within their technology business. The client identified consultants that were likely to be replaceable with more cost-effective contingent resources.
Once the replaceable consultants were identified, we would source suitable replacements from a talent pool of contractors. Alternatively, some consultants were given the option convert to Ltd Company contractors under Resource Solutions’ MSP.
Reducing Fees with Expertise
We deployed dedicated, specialist recruiter support to all Hiring Managers that required the service of a 3rd party consultant. This high-touch service identified independent contractors with the expertise required by the bank, avoiding management consultancy handling fees. Our service included:
- Consulting through the selection process
- Handling the offer and negotiation process
- Screening, on-boarding, renewals and retention management
- All consultants who converted to Ltd Company were required to go through standard screening, mitigating risk for the client and ensuring all
contingent resources are screened to consistent, rigorous standards
- Instigating a consultancy challenge against all new consultancy SoW requests
- The initiative was successful thanks to effective escalation management ensuring full business buy in and adherence to the programme.
- Savings of up to 39% were achieved on margins, ensuring the client receives better value contingent resources
- Several hundred consultancy resources converted
- Completion of the largest single consultancy conversion with 30 resources
- Due to the successful execution of this initiative, the consultancy conversion programme has been incorporated as a BAU process.
- How to begin managing your Statement of Work (SoW) population?
- How to save money, reduce risk and gain clarity over their consultancy population