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FORT LAUDERDALE, Fla., Aug. 9 /PRNewswire-FirstCall/ -- SourceRight Solutions, a division of SFN Group, Inc. (NYSE: SFN), was selected to provide contingent labor procurement program oversight for two Siemens business sectors in the U.S.: Siemens Healthcare and Siemens Industry, Inc. SourceRight will provide a streamlined Managed Service Program (MSP) solution designed to enhance compliance, increase efficiencies, improve cost-effectiveness and centralize management and operations for the procurement of contingent labor positions.
SourceRight, who has been working with Siemens Healthcare since 2006, was awarded a multi-year contract renewal and a significant expansion of its service footprint to additional business units in a competitive selection process. SourceRight's resources, knowledge and technical expertise to run a highly complex MSP were contributing factors to the win.
"SourceRight was chosen to help us consolidate and move our contingent labor procurement strategies to a single platform. They have demonstrated ability to run complex MSPs for companies worldwide and their commercial model invokes true transparency, providing an open-book relationship for the supplier and the customer," said Doug Cutrell, director of global sourcing of Siemens. "It's a win-win-win for all parties."
In the United States, this is the first MSP designed in this unique commercial configuration on the Fieldglass technology platform which is aimed at neutralizing the economic strains that both Staffing Suppliers and large employers are facing. SourceRight's optimized services approach enables all parties, including Suppliers, Siemens and SourceRight, to have a clear view of the program's financial structure, achieve cost advantages and increase efficiencies, while delivering high-quality talent. Specific benefits of the delivery structure include:
- A break-out of statutory costs such as state, unemployment, social security and workers' compensation to provide maximum cost transparency and minimize risk exposure
- Graduated supplier gross markups based on sourcing demands and difficulty levels by job family
- Realization of cost savings through tenure discounts and volume incentives
- Distribution of volume incentives based on market share to ensure equity across suppliers
- Process optimization leveraging Fieldglass, a leading vendor management technology system for contingent labor procurement
The SourceRight program will encompass Siemens Healthcare and Industry operations in nearly all of the 50 states, as well as Canada and Puerto Rico.
"Through our relationship with Siemens over the past four years, we've proven our ability to continually provide service excellence and innovative solutions. This history of success coupled with SourceRight's unique capability to deploy complex programs was pivotal in the company's decision to expand the relationship into other sectors," said Rebecca Callahan, president of SourceRight Solutions. "In addition to helping guide Siemens in future workforce decisions, we look forward to executing a total contingent labor strategy with management model and philosophy that nurtures transparency and efficiency."
SourceRight's MSP is a scalable outsourcing model that includes flexible configuration options, global program management oversight, optimized supplier management and decision support analytics. Siemens will benefit from SupplierEdge, a SourceRight delivery services solution that streamlines order processing and supplier management to ensure a measurable ROI, access to proven, high-performing preferred suppliers, performance quality and compliance with supplier diversity programs. Siemens will also gain added value from SourceRight Advisor, a workforce analytics and thought leadership solution that provides data and trend analysis to help businesses develop better-informed strategies to optimize their services and workforce management spend.
SourceRight will manage supply chain strategies across all Siemens job families, including IT, engineering, professional, technical, administrative, light and heavy industrial, and more.
About SourceRight Solutions
SourceRight Solutions manages outsourced talent acquisition functions, whether for full-time, contingent or contract staff. Building upon our 60-year heritage in recruitment and staffing innovations, our solutions provide the workforce insight needed to drive strategic talent decisions by leveraging embedded technologies, a scalable global service model and the best recruitment talent in the industry today.
SourceRight Solutions specializes in improving and managing workforce-related processes through a comprehensive spectrum of offerings that can be deployed singularly or in combination and include: Strategic Talent Optimization, our integrated approach to managing flexible, alternative workforce strategies; Recruitment Process Outsourcing for improved speed and quality of full-time hires; Contingent Workforce Services that enhance the acquisition and management of "free agent" contractors and consultants while mitigating associated risk; and, Managed Services Programs to improve the procurement of an organization's contingent workforce, increasing quality while reducing supplier costs.
SourceRight Solutions is a division of SFN Group, Inc. (NYSE: SFN). SFN operates a family of specialty businesses providing strategic workforce solutions in professional services and general staffing.
To learn more, please visit www.sourcerightsolutions.com.
SOURCE SourceRight Solutions