(Today’s guest post is by Arjun Dutt, Business Intelligence Solutions. This is the fourth post in our Measuring Up series on how to get more out of your VMS reporting.)
Earlier in this series, I outlined an alternative way of looking at cost savings metrics. But another metric that can be used to identify cost savings opportunities at a more granular level is hiring patterns within the buyer population. Many organizations, especially those without an MSP present, tend to look only at the final rate of a hired worker against the targeted rate of the rate card.
During a recent business review to identify cost savings opportunities, we discovered an interesting anomaly for a specific job title at a handful of locations. The rate variances for the same job title and description were unusually large, even when accounting for location-based adjustments. Consider the following data we were able to visualize:
In response to this behavior, the client implemented Fieldglass’ active rate guidance, which gives hiring managers access to real-time rate information that can be used to select a candidate. As a result of this implementation, hiring managers: (more…)