CLIENT: Multinational Investment Bank
LOCATION: New York, St. Louis
TALENT SOLUTION: Contingent Workforce Management
- Agency dependency
- Decentralized vendor model
- Contingent workforce solution saves client $10.8m
The North American arm of a multinational banking and financial services company was seeking a more efficient—and cost-effective—way to manage their contractor population.
Before LevelUP’s engagement, the company relied solely on agencies to fill most open positions with little oversight – leaving them at the whim of mark-up fees and market challenges. Business units had free reign to choose their vendor, making it difficult to evaluate vendor performance.
ApproachDeveloped a Consultant Program
Launched consultant program to support recruitment, onboarding, ongoing management, and offboarding of temps, consultants, and vendors.Standardize Vendor Agreements
Developed a vendor agreement that would be standard across all business units to effectively measure performance and value.Enforce Maximum Mark-ups
Maximum mark ups implemented to ensure costs stayed within reason
- 95% Acceptance rate
- 78% Retention rate (higher than industry average*)
- 19 Day average time to select candidates
- $1.7m Annual cost savings