A leading digital financial services company

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Project Type:
Rate Card Optimization
Client:
A leading digital financial services company
Sector:
Financial Services

The Issues

  • Lack of market data & insight to guide managers and establish correct rates for 2020
  • Reliance on MSPs for data – but MSP revenue model rewards higher rates
  • Digital-only operation means heavy reliance on recruiting the right contingent workforce talent cost-effectively
  • Perceived overspend on some roles, high churn and time to recruit on others

The Solutions

  • Brightfield TDX Bulk Tru-Market Valuator to identify target rates
  • Uploaded current job titles and locations and compared with corresponding average market rates
  • Identified roles where current rate exceeded average market rate based on 50th percentile

The Results

  • Identified savings opportunity, targeting $6-8M
  • Analysis completed within two weeks of membership kick-off

Next Steps

  • Perform more extensive cost, quality, and efficiency analysis upon acquisition of VMS data
  • Ongoing monitoring of true market rates via Brightfield TDX

How did The Client benefit?

Visibility into market rates despite lack of internal data

Visibility into market rates despite lack of internal data

Cost savings identified within 2 weeks of membership kick-off

Cost savings identified within 2 weeks of membership kick-off

Analysis showed average payments 14% above market rate on 512 role/level/location combinations (in one case 100% above average)

Analysis showed average payments 14% above market rate on 512 role/level/location combinations (in one case 100% above average)

Also identified underpayment on some roles and potential staff churn and recruitment risks

Also identified underpayment on some roles and potential staff churn and recruitment risks

Identified savings opportunity of up to $6-8 million annually

Identified savings opportunity of up to $6-8 million annually

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Seeing is believing

Curious to see how other companies manage the economics of their workforce? Schedule a live demo with one of our TDXperts.

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