Employee Screening | Market, Trends, Growth | Suppliers Analysis

Strategic Sourcing Guide to Employee Screening Procurement

Overview

The market for HR Services and its sub-segments such as Employee Screening are at an interesting intersection. Even though global population is increasing, the availability of adequately trained talent pool is reducing in many geographies. Lack of skilled in-house manpower continues to be the largest factor for hiring of Employee Screening. Companies are designing processes where the internal talent can work on the most value-adding activities and all non-core activities can be handed over to a third-party.

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.

Changing workforce demographics are creating challenges in identifying the right talent mix and processes that can keep the talent pool motivated and satisfied with their work.

Trends like these and many others discussed in this report are necessitating a relook at the way Employee Screening is procured and the procurement cost saving opportunities that exist.

Employee Screening Procurement Best Practices

Sometimes, procurement functions are unable to timely alter their practices while responding to market conditions. Industry experts acknowledge that periodically reviewing procurement best practices and adopting learnings from across procurement categories can help procurement teams respond to market needs in a more agile way. This report combines our experience of other categories with Employee Screening procurement insights and hand picks best practices that can work for category managers delving in this market.

For example, Employers are focusing on providing employee-friendly interfaces (such as mobile-enabled services and web portals) to access and manage benefits and options available to employees. Suppliers who have the technical capabilities to seamlessly integrate with the employer's internal systems without comprising the data protection should be preferred.

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 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.

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Risks in Employee Screening procurement

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

Suppliers may face a situation where they are unable to honor a contract in its entirety due to shortage of resources, finances or capabilities. While contractual terms safeguard buyers from the non-performance, their operations could still face massive disruptions due to suppliers' non-performance
To provide good quality services and solve issues, service providers must have highly skilled and experienced employees. Inability to attract and retain talented employees will impact their competitiveness and relevancy in the market
Service providers sometimes rely on third-party vendors for software and technologies and this can lead to increased dependence on these vendors. The services they provide may be disrupted, if they are unable to timely renew contracts with such vendors

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Who should read this report

The report is intended to serve as a one-stop reference guide for Employee Screening 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 “Employee Screening: Procurement Report 101” as well as for category experts actively tracking the global Employee Screening procurement market.

You may have just initiated your research to design a winning Employee Screening 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 Employee Screening 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 Employee Screening 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 Employee Screening market?
What is the correct price to pay for Employee Screening? What are the key trends and factors that influence current and future pricing?
Which selection criteria are the most important for Employee Screening Suppliers Market?
Who are the top Employee Screening suppliers? What are their cost structures?
Which negotiation levers can reduce Employee Screening procurement cost ?
What are supplier margins in Employee Screening market?
What are the best practices for Employee Screening 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!

Employee Screening Category Insights: What is inside

The Employee Screening 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 Employee Screening procurement spend and pricing trends. The report further delves deep into the aspects of cost structure, total cost of ownership and supplier margins for Employee Screening. 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 Employee Screening 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 Employee Screening 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 Employee Screening 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.