12 Ways to Reduce Contingent Workforce Program Costs

Contingent Workforce Program Managers: Are You Unlocking Every Cost Saving Opportunity?

As economic pressures mount, program managers are under growing scrutiny to demonstrate cost efficiency, without sacrificing talent quality or operational performance.

My most recent article breaks down 12 strategies to reduce costs across your contingent workforce programme, each with real-world examples and simple savings calculations you can apply immediately.

Here’s a taste:

• Rate Rationalisation: Bringing average developer rates down from $60/hour to $55/hour? That’s an $88,000 annual saving across just 10 contractors.
• Location Strategy: Moving 5 roles from the UK to Poland at a lower hourly rate could save $220,000 a year—with no drop in productivity.

From shifting long-term staff augmentation to SOWs, to capturing unclaimed rebates, or negotiating discounts for faster payment terms, this is a must-read playbook for any contingent workforce program manager looking to build a leaner, smarter contingent workforce program.

Here’s what’s covered, complete with sample calculations, in the full article:

1. Reduce pay rates
2. Reduce supplier margins
3. Move workers to a lower-cost location
4. Reduce the number of hours worked
5. Reduce the number of contingent workers
6. Reduce internal program costs
7. Move staff augmentation to SOW
8. Reduce payment terms
9. Supplier optimisation
10. Exercise rebates
11. Volume discounts
12. Move workers through payroll

Learn how to measure actual savings, optimise supplier relationships, and align your strategy with finance...without losing sight of quality.

Read my full article here: https://bit.ly/4imnhaI

NOTE: Our CCWP Certification class has an entire module on Pricing & Cost Management Strategies...you can find out more and register for a class here