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Workforce Management Software Saves Money, New Analyst Report Concludes
SONOMA, Calif. --(Business Wire)-- In a research report published by the Aberdeen Group, analysts found that enterprises achieve an average savings of 7 percent (and as high as 13 percent) by implementing formal workforce performance programs such as deploying a single system to automate workforce management. The report is titled Contract Labor and Professional Services: The Right People, At the Right Time, At the Right Price, and is available for free download.
"Use of contingent labor and professional service engagements as an alternative to increasing FTEs is becoming a more common workforce management strategy," said lead author and Aberdeen Research Analyst William Browning. "Millions of dollars are being spent each year on each of these complex categories so organizations are placing increased emphasis on investment in program management and spend intelligence tools to gain better visibility, drive savings, and improve process efficiency."
Aberdeen concludes that companies should utilize a single system to automate workforce requisitions, select preferred vendors, and provide overall program visibility. Other recommendations include centralizing program management while improving collaboration among the key stakeholders--namely HR, Procurement, and the Line of Business group.
"In a large company, typically 10 to 20 percent of their total payroll is spent on their contingent workforce, so the cost savings documented in the Aberdeen survey have an enormous impact on the bottom line," said Steve McCarthy, COO of WorkforceLogic. "The report results validate what our sales pitch has been all along."
To download a complimentary copy of Aberdeen's report titled Contract Labor and Professional Services: The Right People, At the Right Time, At the Right Price, visit: http://www.aberdeen.com/link/sponsor.asp?spid=30410720&cid=3966
About Aberdeen Group, a Harte-Hanks Company
Aberdeen Group, a Harte-Hanks Company (NYSE:HHS), is a leading provider of fact-based research and market intelligence that delivers demonstrable results. Having benchmarked more than 30,000 companies in the past two years, Aberdeen is uniquely positioned to educate users to action: driving market awareness, creating demand, enabling sales, and delivering meaningful return-on-investment analysis. As the trusted advisor to the global technology markets, corporations turn to AberdeenTM for insights that drive decisions.
About WorkforceLogic
WorkforceLogic is an innovative workforce management company focused on risk mitigation, talent acquisition management and contingent workforce planning. As a professional advisor, we help our clients strategically manage their workforce acquisition process while managing costs and mitigating risk. We help our clients create and execute an innovative strategy for managing the acquisition of their workforce that fits their budget, specific business goals and market response requirements.
Some of WorkforceLogic's premier clients include Sony, Brocade, and Bank of the West.
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