Leading International Bank 1

LevelUP executes an Enterprise Solution, managing the entire talent and recruitment program for the Americas. Providing process management and direct sourcing activities for FTE and contractors.

Revenue: $28.6 billion

145,000+ Employees

LevelUP has total Cost Avoidance at $9.8 Million to date

The Challenge

Prior to LevelUp's arrival, the Bank did not have any formal tracking or clear on-boarding process for Staff Augmentation Contractors, allowing for inconsistent mark-up rates and an inability to conduct thorough Finance and HR Contractor Reports.  

LevelUp implemented a robust tracker to monitor Consultant activity (e.g. number of consultants onsite, spend per department) and streamlined the vendor on-boarding process. As part of the ongoing talent management solution, LevelUp conducted a pay rate audit during which a challenge arose when a vendor consistently ignored requests for evidence to support the maximum mark up detailed in the vendor agreement.

The Solution

The onsite LevelUp team agreed with the Bank's HR to approach the existing contractors and ask if they'd share their pay rates/salaries. Of those who shared the information, LevelUp calculated overbilling of the Bank by 1.5 to 4 times the agreed maximum mark up. LevelUp contacted this contractor to provide all pay documentation for all active and inactive contractors since the new vendor agreement was established. Further investigation and reconciliation identified that there was a $300,000 overcharging discrepancy.

The Results

The implementation of a previously unavailable reporting functionality and continued pro-activeness, they were able to save the Bank, in addition to the $2M saved through LevelUp's Contractor Workforce Solutions.