How Can A Managed Solutions Partner Support Your Company With Labour Costs And Budgets?13 Jul, 20223:18
Having a Managed Solutions partner can lead to a whole host of benefits for a company lookin...
Having a Managed Solutions partner can lead to a whole host of benefits for a company looking to streamline its workforce processes, not least when it comes to cost and budget management. Here is how we helped a client manage and review their contingent labour workers across two of their refineries in the United States.
The client, a refiner and supplier of petroleum products, was looking for a review of their contingent labour spend as the client was struggling to maintain consistency with pricing across multiple vendors. This meant it was difficult for them to control their cost and budget spend within this category.
Here’s how having a Managed Solutions Partner helped them.
Services we provided to our client
To tackle the client’s challenges, NES implemented an account management team at both refinery locations who:
Quickly coordinated with the client leadership team
Transitioned over 50 contractors within engineering, operations, maintenance, project controls and finance to our systems with zero payroll errors
Implemented a streamlined timesheet process to simplify payroll for the client and contingent workforce
Worked with the client to identify areas of “rogue spend” that had occurred due to the complexity of multiple levels of vendors and misclassification of contingent labour spend, which generated cost savings
Provided one point of contact for Hiring Managers at both refineries to streamline the process for hiring contingent labour, including a review of the approval process and multiple sign-off levels
Ensured their staffing needs were met quickly by onboarding a niche supplier under the MSP contract terms, which is managed by the NES Account Manager to maintain control of contingent labour spend
How can an MSP partner help with costs and budgets?
There is a whole range of ways in which having a Managed Solutions Partners can help a company with managing their budgets and better understand their labour worker spend.
Budgeting and costs were the main challenges for our client. At NES Fircroft, we provide pricing that is competitive and consistent, which is why they chose to partner with us. We always aim to discover potential cost savings and provide visibility for all future hiring with set mark-ups and a benefits offering.
We were also able to provide on-site Account Managers (at both refinery locations) and could scale up or scale down our operations depending on the client’s requirements.
Our client also really valued the technology solutions we introduced to support contractors and improve the Hiring Managers’ experiences. We are vendor-neutral and always select a technology that best suits the client’s needs.
As their sole pay agent, our support also ensures that the client’s accounting and invoicing process is streamlined with one point of contact, rather than through multiple vendors.
What results can you achieve for your business with an MSP agreement?
By taking the time to thoroughly understand the client’s challenge and craft a tailored solution, we were able to provide a range of benefits for our client.
Increased control over cost
We provided them with visibility over their contractor population as well as ensured job titles and rates were standardized to compete with market rates – this created significant cost savings.
Better visibility over the contractor workforce
The client only had one invoice to manage from NES instead of several which simplified their back-office processes and increased their working capital.
A compliant business
After consolidating the client’s workforce, they had better visibility and control over the contractor population enabling them to avoid risk. NES took responsibility for the annual security, D&A and health checks of the contractor population.
Contractors were provided medical benefits, PTO, and increased contractor care
Our support was of such value to the contractor population that we achieved a 100% transition rate for the key personnel the client wished to retain.
Huge cost-saving for our client
Our initial success has shown the client an immediate cost saving of over $500k+ per annum, providing a platform for future cost savings through turnaround events and general recruitment activities.
The classification of contingent labour has also provided significant management information to scale up/scale down for the client as projects require.
NES Advantage and Managed Solutions – we can help you with your staffing challenges
At NES Advantage Solutions, we are experienced in offering individually tailored Managed Solutions and can manage your entire workforce solution under a single operation, ensuring smooth and compliant processes. Whether you need help across multiple phases of a project or on an ongoing basis, we can help with your staffing challenges.
Our managed solutions offerings are:
100% compliant – Our award-winning compliance team ensures all contractors are engaged compliantly when it comes to difficult areas such as visas, taxation and insurance cover.
Industry-focused – we have experience across several sectors such as Oil and Gas, Chemicals, Power, Renewables, Life Sciences and Mining. Learn more about our sectors.
Committed to cost-effective and quick-start implementations.
A partnership – we align with your brand and can operate entirely in-house with your internal teams
Seamless – we work as an extended arm of your team
A great experience – for your employees undergoing a daunting relocation, your potential employees going through the hiring process and for your business with regular progress reports.
Technology-enabled - we utilize various technologies into a seamless tech stack offering flexibility, efficiency, and innovation
If you would like to talk to us about our Managed Solutions, get in touch with one of our experts today.