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This global financial services group was able to manage temporary and contract employees more efficiently and achieve cost savings by outsourcing its recruitment and management to Accenture.
Active in more than 45 countries, this Leading Global Financial Services Group offers banking, investments, life insurance and retirement services to a broad customer base.
A European division of the company relied heavily on its temporary workforce to adapt to market developments, but the way it handled this workforce resulted in a number of problems that adversely affected performance, scalability, efficiency cost management and regulatory compliance.
Accenture helped the group design and implement a new model for managing its temporary workforce based on the benefits obtainable through business process outsourcing. The result was a multi-year program through which Accenture managed temporary personnel in one of the company’s European divisions.
The program was in use for more than four years at the group, where Accenture managed some 3,000 temporary employees. Within the first year, Accenture met or exceeded all service-performance targets and the model generated significant direct and indirect cost savings.
A European division of this Global Financial Services Group relied heavily on its temporary workforce to adapt to market developments, but the way it handled this workforce resulted in a number of problems that adversely affected performance, scalability, efficiency cost management and regulatory compliance:
Accenture helped the group design and implement a new model for managing its temporary workforce, based on the benefits obtainable through business process outsourcing. The result was a multi-year program through which Accenture managed all temporary personnel (with the exception of IT professionals and management consultants) in one of the company’s European divisions.
Through an RFP process, Accenture selected a pool of the best qualified temporary labor suppliers and devised unambiguous service level agreements with them. Accenture handled the human resources, procurement and finance business areas as they related to the contingent workforce. Five processes provide an end-to-end service for temporary workforce management:
Accenture’s model was in use for more than four years at the group, where Accenture managed some 3,000 temporary employees. Within the first year, Accenture met or exceeded all service-performance targets and the model generated significant direct and indirect cost savings, including:
The group developed a higher-quality process for hiring its temporary workforce. The arrangement made the temporary workforce even more responsive to business demands, with time-to-placement reduced from an average of 14 days to an average of eight days.
Accenture subsequently renegotiated all contracts with the more than 35 suppliers of temporary labor, resulting in significant additional savings.
2012