Hr Communications Category Procurement Intelligence Report

The market for HR Services and its sub-segments such as Hr Communications are at an interesting intersection. People analytics has emerged as a rather new branch of HR function with an aim to gain deeper insights into an employee's behavior, motivators, risk of attrition and general wellbeing. There is a high demand for suppliers who can integrated technology in traditional processes to generate insights on the buyers' talent pool.

New locations and vendors are emerging as cost effective suppliers of Hr Communications, offering an opportunity to widen the supplier base and gain further negotiation leverage with incumbent suppliers.

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.

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

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 Hr Communications procurement insights and hand picks best practices that can work for category managers delving in this market.

For example, Buyers should promote competitive bidding scenarios and supplier competition to gain cost and value benefits. Bids should be invited from a substantial pool of service providers that can meet their requirements.

Employees prefer flexibility and have customized requirements when it comes to choosing or accessing the benefits/services available to them. Service providers must also develop flexible plans and administration processes that can cater to unique demands of an increasingly diversified workforce.

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.

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