Permanent Recruitment | Market, Trends, Growth | Suppliers Analysis

Strategic Sourcing Guide to Permanent Recruitment Procurement

Overview

Several macro changes in the dynamics of overall HR Services as well as Permanent Recruitment procurement trends are poised to change the business practices and procurement thumb rules. Suppliers are increasingly offering a 'bundle' of services which is marketed as a cost saving option. The bundled offering often includes services that are not required by the buyer or are charged at a much higher rate than an A la carte option with another supplier.

With the influx of millennials in the workforce and increasing diversity at the workplace, companies are struggling to design pay and benefits processes that are uniformly relevant for the lifestyles of such diverse groups.

The market has undergone several structural changes including M&As and vertical integration efforts of suppliers. This has resulted in some issues such as erosion of previously established supplier relationships but has also opened new opportunities to onboard new suppliers with a wider range of offerings.

Category managers need to take note of the potential of these developments and reassess the changes required in their procurement practices.

Permanent Recruitment Procurement Best Practices

The report discusses in detail the best practices that have served well the category managers responsible for Permanent Recruitment procurement.

For example, Buyers should engage with service providers that offer value-added services and programs across multiple regions to ensure procurement of standardized services that promote employer brand and keep the costs in check.

Buyers can achieve cost savings by bundling procurement of various personnel-related services (e.g. benefits administration, payroll, time and attendance, and HR management functions). The integration of different HR functions leads to the automation of employee data across various verticals. The integration also reduces the burden of manually entering and updating necessary information and offers consistency and accurate tracking across multiple systems.

Buyers should engage with suppliers that automate the process of handling any claims or requests through cloud-based software. Once initiated by an employee of buyer organization, suppliers' staff or the system itself can provide guidance for next steps. All necessary stakeholders can check the real-time status through web-based platform and take actions accordingly.

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Risks in Permanent Recruitment procurement

Permanent Recruitment procurement managers also need to proactively identify and mitigate potential risks that can arise in the supply chain or contracts for Permanent Recruitment procurement. Some examples include:

Many service providers offer services via SaaS, mobile technology, and desktop software. If they do not remain up-to-date with the latest technologies and keep up with changing industry standards, they may not only be unable to resolve clients' problems but also lose the interest of potential clients
Contract-related risks where unfavorable credit terms may severly penalize buyers for delayed payments or entitle the supplier to demand pre-payments or shorten the payment terms are not very common in the category but they do exist in certain situations where buyers' liquidity or financial health is in question
Procurement without consulting the actual users of Permanent Recruitment may result in a mismatch in expectations of the buyer's internal stakeholders versus the actual contract executed

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Who should read this report

The report is intended to serve as a one-stop reference guide for Permanent Recruitment procurement strategy and offers a perfect blend of category basics with deep-dive category data and insights. Therefore, it is ideal for category beginners looking for “Permanent Recruitment: Procurement Report 101” as well as for category experts actively tracking the global Permanent Recruitment procurement market.

You may have just initiated your research to design a winning Permanent Recruitment procurement strategy, or you may be a category expert looking for strategic insights and updated data.Either ways, the report has your requirements covered.

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Key questions on Permanent Recruitment procurement answered by this report

Procurement decisions can prove to be costly in the absence of careful deliberation and evaluation of every available option. In fact, more than 90% of the decision makers we work with acknowledge that timely availability of up-to-date category intelligence can help them make better purchasing decisions. More than 80% of them believe that in-house category intelligence needs to be updated periodically to achieve full benefits. If you have read so far, we are quite sure you agree!!

The Permanent Recruitment procurement report helps take more informed decisions by placing all the critical information and advice at the fingertips of a decision maker. It also specifically answers some of the key questions that we have been routinely asked during our industry outreach initiatives:

What is the spend potential in the Permanent Recruitment market?
What is the correct price to pay for Permanent Recruitment? What are the key trends and factors that influence current and future pricing?
Which selection criteria are the most important for Permanent Recruitment Suppliers Market?
Who are the top Permanent Recruitment suppliers? What are their cost structures?
Which negotiation levers can reduce Permanent Recruitment procurement cost ?
What are supplier margins in Permanent Recruitment market?
What are the best practices for Permanent Recruitment procurement and what are the potential risks?

SpendEdge Insights has helped procurement professionals and sourcing teams manage multiple spend areas and achieve more than $2 billion in savings. Activate your free account today!

Permanent Recruitment Category Insights: What is inside

The Permanent Recruitment market report offers a complete picture of the supply market and analyzes the category from the perspective of both buyers and suppliers. Analysis of the category trends, procurement best practices, negotiation levers and overall category management strategy advisory are interspersed with in-depth data and commentary on spend outlook, pricing ecosystem and supplier landscape drilled down to a region-level coverage.

Data

A key highlight of this report is the in-depth outlook created on Permanent Recruitment procurement spend and pricing trends. The report further delves deep into the aspects of cost structure, total cost of ownership and supplier margins for Permanent Recruitment. A dedicated section to supplier profiles and evaluation helps decision makers cast a wider procurement net and identify gaps in existing relationships.

Insights

Along with specific category and supplier intelligence, the publication also includes curated insights on Permanent Recruitment market trends, price influencers and inherent risks. These insights help the decision makers prepare for market shaping trends in advance and create alternative strategies for changes in the market conditions.

Advisory

Additionally, the report also advises on the best practices and strategies to manage the Permanent Recruitment category efficiently. Negotiation levers and opportunities are explained in detail along with quantification of their potential. Benchmark KPIs for supplier and buyer performance management are also aggregated to better organize the category objectives. Other themes of advisory include ideal procurement organization structure, enablers to achieve KPIs or category objectives and ideal SLAs to have with suppliers.

Category Ecosystem

Buyer and supplier ecosystem
Competitiveness index
Buyer and supplier power
Threat of new entrants and substitutes

Global and Regional Sourcing Insights

Category spend
Spend growth
Dynamics
Opportunities

Pricing and Cost Analysis

Pricing outlook and data
Drivers of pricing
Cost structure and inputs cost
Total cost of ownership
Pricing models and margins

Cost Saving Opportunities & Negotiation Strategies

Buyer and supplier side levers
Quantified cost saving opportunities
Negotiation strategies and quantified outcome

Procurement Best Practices, Strategy and Enablers

Procurement excellence
Sustainability and innovation
KPIs and category enablers
Risk management and outsourcing

Vendor Analysis

RFx essentials and selection criteria
SLAs
Supplier evaluation metrics
Detailed supplier profiles

Our research is complex, but our reports are easy to digest. Quantitative analysis and exhaustive commentary is placed in an easy to read format that gives you an in-depth knowledge on the category without spending hours to figure out “what does it mean for my company?”

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Category Research Framework

SpendEdge presents a detailed picture of Permanent Recruitment procurement solutions by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key category influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.