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© PeopleFluent 2014
Effective Rate Strategies for VMS
Cheryl Tracz
Director, VMS Strategic Services
1 of 26© 2014 PeopleFluent | Confidential Effective Rate Strategies for VMS| April 2, 2015
Introduction
• Director, VMS Strategic
Services PeopleFluent
• Specializing in driving
client satisfaction and
value recognition for
VMS customers
• 13 years experience in
Human Capital
Management industry
2 of 26© 2014 PeopleFluent | Confidential Effective Rate Strategies for VMS| April 2, 2015
• Leader in Human Capital Management
• In over 5,200 organizations
• 214 countries and territories
• 80% of the Fortune 100
• 170 VMS customers
• $7B managed spend
About PeopleFluent
3 of 26© 2014 PeopleFluent | Confidential Effective Rate Strategies for VMS| April 2, 2015
• Components of staffing vendor bill rates
• Approaches to vendor rate management
• Strategies for rate card management and mark-up
• Tactics to align financial and talent goals
• Q&A
Agenda
4 of 26© 2014 PeopleFluent | Confidential Effective Rate Strategies for VMS| April 2, 2015
Bill Rate Components
5 of 26© 2014 PeopleFluent | Confidential Effective Rate Strategies for VMS| April 2, 2015
Bill Rate
•The rate charged to the customer
• $100 per hour
•So, if Bob worked 40 hours in a
week, the customer would be
invoiced $4000
Pay Rate
•The rate a worker received as a
wage
•$70 per hour
•So, if Bob worked 40 hours in a
week, he would be paid $2800
Burden Rate
• Staffing vendor employment cost
for each worker : workers comp
insurance; other insurances;
taxes; benefits
•Burden rate is not typically
transparent to the customer or
VMS
•Burden rate can be between 13 –
25%
•For Bob, burden rate add $9.10
to $17.50
Bill Rate Components
Example:
• Bob Worker earns $70/ hour as a software developer for
ABC Staffing
• ABC Staffing charges Customer1 $100/hour for the time
worked
6 of 26© 2014 PeopleFluent | Confidential Effective Rate Strategies for VMS| April 2, 2015
Approaches to vendor rate
management
7 of 26© 2014 PeopleFluent | Confidential Effective Rate Strategies for VMS| April 2, 2015
Open Bill Rates or Bidding
•Managers set bill rates based on budget, need or relationship with the
staffing vendor
•Vendors can then bid on the bill rate
Mark up
•Manages the percentage via contractual relationship that a staffing
vendor charges over the pay rate of their worker
•Using our $100 bill rate with our $70 pay rate, this represents a 42%
mark up
Rate card or Not to exceed rates
•Manages the bill rate by job title and location that the staffing vendor
can charge the client
•Not to exceed rates can be set by a client for all vendors or managed
separately for each vendor
Type of Bill Rate Management
8 of 26© 2014 PeopleFluent | Confidential Effective Rate Strategies for VMS| April 2, 2015
• Benefits
• Allows for fluctuations in the market for high demand
skills set
• Allows manager to set rate by budget for position
• Creates a competitive market for the vendors
Open Bill Rates or Bidding
• Disadvantages
• No standard rates
• Resources of similar skill sets can be at varied bill
and pay rates
9 of 26© 2014 PeopleFluent | Confidential Effective Rate Strategies for VMS| April 2, 2015
Benefits
• Visibility to the pay rate
• Easier conversion to full time employee
• Swifter shifts in the job or skill set market
Maximum Mark Up
Disadvantages
• Vendors have more control over pay rate
• Difficult to budget or project as the rates are not
established
• Hiring Managers do not have ability to set rate directly
with the vendor
10 of 26© 2014 PeopleFluent | Confidential Effective Rate Strategies for VMS| April 2, 2015
Vendors calculation:
(Bill Rate – Pay Rate) / Pay
Rate
In this example
the mark up is 42%
Costs also included in this mark up
• Background checks & Drug
screening costs
• Salary & Commission for recruiters
or account managers
• Overhead such as office space
Mark Up
Pay Rate = $70/hour
Burden Rate
13-25% =
$79.10 to $87.50
Bill Rate = $100/hour
11 of 26© 2014 PeopleFluent | Confidential Effective Rate Strategies for VMS| April 2, 2015
Benefits
• Accurately control and project cost
• Vendors pipeline candidates knowing what the
maximum rates of future positions will be
Rate Card
Disadvantages
• Does not allow for market flux
• No visibility to pay rates
• May loose candidates who want higher rates
• Hiring Managers do not have ability to set rate directly
with the vendor
12 of 26© 2014 PeopleFluent | Confidential Effective Rate Strategies for VMS| April 2, 2015
Client A
Pay & Bill
are equal
3%
Pay is $1
3%
MarkUp
50-100%
11%
MarkUp 1-
50%
31%
Pay is $0
52%
Client B
Pay & Bill
rate equal
2%
Pay
Rate
>
Bill
Rate
0%
Pay is 0
11%
Mark up 1
-50%
60%
Mark up
50-100%
24%
>100.1%
3%
Sample Client Data
Showing pay rate / mark up
13 of 26© 2014 PeopleFluent | Confidential Effective Rate Strategies for VMS| April 2, 2015
Strategies for rate card
management and mark up
14 of 26© 2014 PeopleFluent | Confidential Effective Rate Strategies for VMS| April 2, 2015
Gaining benefits and
mitigating the
disadvantages by
establishing a maximum
mark up and rate card
Rate Control
Rate Card
Maximum
Mark up
Blending the mark up and rate card
approach
15 of 26© 2014 PeopleFluent | Confidential Effective Rate Strategies for VMS| April 2, 2015
Benefits Disadvantages
Blending Mark Up & Rate Card
16 of 26© 2014 PeopleFluent | Confidential Effective Rate Strategies for VMS| April 2, 2015
Tactics to align financial
and talent goals
17 of 26© 2014 PeopleFluent | Confidential Effective Rate Strategies for VMS| April 2, 2015
Determine mark up
•Overall Program
•Job category
•Location
•Difficulty of skill
Align rate card
•Align roles to internal pay
rates when possible, adding in
mark up to calculate high
rates
•Determine alternate mark up
or strategy to attract in
demand roles
Communicate
Change
•To internal stakeholders
•To vendors, via new
contractual language
Steps to pursue a controlled
program for rate card management
18 of 26© 2014 PeopleFluent | Confidential Effective Rate Strategies for VMS| April 2, 2015
46%
49%
42%
38%
40%
42%
44%
46%
48%
50%
Overall Avg Rate Card Avg* Mark Up Avg
• Rate card average derived from
available pay rate information, over
30% of pay rates were not provided,
or misrepresented at $1 or equal to
the bill rate
What should the Mark Up be?
If you elect to set a
maximum mark up, now the
key is to find what is
appropriate
Several factors go into
determining that:
• Location
• Job Category or Skill set
• Volume of spend
19 of 26© 2014 PeopleFluent | Confidential Effective Rate Strategies for VMS| April 2, 2015
43%
49%
63%
39%
52%
33%
42%
45% 43% 43%
48% 49%
24%
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
Admin/Clerical
BusinessOperations
CorporateServices
CustomerService
Finance&Accounting
Health&Fitness
HumanResources
Legal
LightIndustrial
Marketing,Sales
Medical
InformationTechnology/
Engineering
Payroll
Average
41%
46%
50%
27%
33%
41% 40%
47%
41%
17%
Managed Mark Up Average
Mark up by Job Category of
PeopleFluent Clients
20 of 26© 2014 PeopleFluent | Confidential Effective Rate Strategies for VMS| April 2, 2015
Align Talent demand to Rate Goals
60%
55%
50%
45%
40%
35%
Volume of Spend
Number of Suppliers
Mark Up
Hard to find skill set
Geography
Geography
Main components of
managing rates is the
volume of spend you
can leverage and the
number of suppliers
Other factors that
can impact, are the
hard to find skillsets
or geography
21 of 26© 2014 PeopleFluent | Confidential Effective Rate Strategies for VMS| April 2, 2015
Align Talent Demand to Rate Goals
60%
55%
50%
45%
40%
35%
Volume of Spend
Number of Suppliers
Mark Up
A high volume of spend
drives down prices
Determine highest
use job category or
skill set leverage a
lower mark up
22 of 26© 2014 PeopleFluent | Confidential Effective Rate Strategies for VMS| April 2, 2015
Align Talent Demand to Rate Goals
60%
55%
50%
45%
40%
35%
Volume of Spend
Number of Suppliers
Mark Up
A high number of
suppliers increases cost
Tier vendors by job
category.
Reward top
performance by
aligning vendors to
their specialty
23 of 26© 2014 PeopleFluent | Confidential Effective Rate Strategies for VMS| April 2, 2015
Align Talent demand to Rate Goals
60%
55%
50%
45%
40%
35%
Volume of Spend
Number of Suppliers
Mark Up
Hard to find skill set
Increased demand or
hard to find skills, drive
higher rates
Offer higher price
points on hard to find
roles to allow supplier
to attract that talent to
your organization
TM
© 2014 PeopleFluent | Confidential Talent Insights. Business Outcomes.TM
Thank
You
Find PeopleFluent on…
Twitter: twitter.com/peoplefluent
LinkedIn: linkedin.com/company/peoplefluent
Facebook: facebook.com/peoplefluent
Blog: peoplefluent.com/resources/peoplefluent-blog
Cheryl Tracz
Director – VMS Strategic Services
o. 919-645-2986
c. 919-812-0824
e. cheryl.tracz@peoplefluent.com

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Effective Rate Strategies for VMS

  • 1. © PeopleFluent 2014 Effective Rate Strategies for VMS Cheryl Tracz Director, VMS Strategic Services
  • 2. 1 of 26© 2014 PeopleFluent | Confidential Effective Rate Strategies for VMS| April 2, 2015 Introduction • Director, VMS Strategic Services PeopleFluent • Specializing in driving client satisfaction and value recognition for VMS customers • 13 years experience in Human Capital Management industry
  • 3. 2 of 26© 2014 PeopleFluent | Confidential Effective Rate Strategies for VMS| April 2, 2015 • Leader in Human Capital Management • In over 5,200 organizations • 214 countries and territories • 80% of the Fortune 100 • 170 VMS customers • $7B managed spend About PeopleFluent
  • 4. 3 of 26© 2014 PeopleFluent | Confidential Effective Rate Strategies for VMS| April 2, 2015 • Components of staffing vendor bill rates • Approaches to vendor rate management • Strategies for rate card management and mark-up • Tactics to align financial and talent goals • Q&A Agenda
  • 5. 4 of 26© 2014 PeopleFluent | Confidential Effective Rate Strategies for VMS| April 2, 2015 Bill Rate Components
  • 6. 5 of 26© 2014 PeopleFluent | Confidential Effective Rate Strategies for VMS| April 2, 2015 Bill Rate •The rate charged to the customer • $100 per hour •So, if Bob worked 40 hours in a week, the customer would be invoiced $4000 Pay Rate •The rate a worker received as a wage •$70 per hour •So, if Bob worked 40 hours in a week, he would be paid $2800 Burden Rate • Staffing vendor employment cost for each worker : workers comp insurance; other insurances; taxes; benefits •Burden rate is not typically transparent to the customer or VMS •Burden rate can be between 13 – 25% •For Bob, burden rate add $9.10 to $17.50 Bill Rate Components Example: • Bob Worker earns $70/ hour as a software developer for ABC Staffing • ABC Staffing charges Customer1 $100/hour for the time worked
  • 7. 6 of 26© 2014 PeopleFluent | Confidential Effective Rate Strategies for VMS| April 2, 2015 Approaches to vendor rate management
  • 8. 7 of 26© 2014 PeopleFluent | Confidential Effective Rate Strategies for VMS| April 2, 2015 Open Bill Rates or Bidding •Managers set bill rates based on budget, need or relationship with the staffing vendor •Vendors can then bid on the bill rate Mark up •Manages the percentage via contractual relationship that a staffing vendor charges over the pay rate of their worker •Using our $100 bill rate with our $70 pay rate, this represents a 42% mark up Rate card or Not to exceed rates •Manages the bill rate by job title and location that the staffing vendor can charge the client •Not to exceed rates can be set by a client for all vendors or managed separately for each vendor Type of Bill Rate Management
  • 9. 8 of 26© 2014 PeopleFluent | Confidential Effective Rate Strategies for VMS| April 2, 2015 • Benefits • Allows for fluctuations in the market for high demand skills set • Allows manager to set rate by budget for position • Creates a competitive market for the vendors Open Bill Rates or Bidding • Disadvantages • No standard rates • Resources of similar skill sets can be at varied bill and pay rates
  • 10. 9 of 26© 2014 PeopleFluent | Confidential Effective Rate Strategies for VMS| April 2, 2015 Benefits • Visibility to the pay rate • Easier conversion to full time employee • Swifter shifts in the job or skill set market Maximum Mark Up Disadvantages • Vendors have more control over pay rate • Difficult to budget or project as the rates are not established • Hiring Managers do not have ability to set rate directly with the vendor
  • 11. 10 of 26© 2014 PeopleFluent | Confidential Effective Rate Strategies for VMS| April 2, 2015 Vendors calculation: (Bill Rate – Pay Rate) / Pay Rate In this example the mark up is 42% Costs also included in this mark up • Background checks & Drug screening costs • Salary & Commission for recruiters or account managers • Overhead such as office space Mark Up Pay Rate = $70/hour Burden Rate 13-25% = $79.10 to $87.50 Bill Rate = $100/hour
  • 12. 11 of 26© 2014 PeopleFluent | Confidential Effective Rate Strategies for VMS| April 2, 2015 Benefits • Accurately control and project cost • Vendors pipeline candidates knowing what the maximum rates of future positions will be Rate Card Disadvantages • Does not allow for market flux • No visibility to pay rates • May loose candidates who want higher rates • Hiring Managers do not have ability to set rate directly with the vendor
  • 13. 12 of 26© 2014 PeopleFluent | Confidential Effective Rate Strategies for VMS| April 2, 2015 Client A Pay & Bill are equal 3% Pay is $1 3% MarkUp 50-100% 11% MarkUp 1- 50% 31% Pay is $0 52% Client B Pay & Bill rate equal 2% Pay Rate > Bill Rate 0% Pay is 0 11% Mark up 1 -50% 60% Mark up 50-100% 24% >100.1% 3% Sample Client Data Showing pay rate / mark up
  • 14. 13 of 26© 2014 PeopleFluent | Confidential Effective Rate Strategies for VMS| April 2, 2015 Strategies for rate card management and mark up
  • 15. 14 of 26© 2014 PeopleFluent | Confidential Effective Rate Strategies for VMS| April 2, 2015 Gaining benefits and mitigating the disadvantages by establishing a maximum mark up and rate card Rate Control Rate Card Maximum Mark up Blending the mark up and rate card approach
  • 16. 15 of 26© 2014 PeopleFluent | Confidential Effective Rate Strategies for VMS| April 2, 2015 Benefits Disadvantages Blending Mark Up & Rate Card
  • 17. 16 of 26© 2014 PeopleFluent | Confidential Effective Rate Strategies for VMS| April 2, 2015 Tactics to align financial and talent goals
  • 18. 17 of 26© 2014 PeopleFluent | Confidential Effective Rate Strategies for VMS| April 2, 2015 Determine mark up •Overall Program •Job category •Location •Difficulty of skill Align rate card •Align roles to internal pay rates when possible, adding in mark up to calculate high rates •Determine alternate mark up or strategy to attract in demand roles Communicate Change •To internal stakeholders •To vendors, via new contractual language Steps to pursue a controlled program for rate card management
  • 19. 18 of 26© 2014 PeopleFluent | Confidential Effective Rate Strategies for VMS| April 2, 2015 46% 49% 42% 38% 40% 42% 44% 46% 48% 50% Overall Avg Rate Card Avg* Mark Up Avg • Rate card average derived from available pay rate information, over 30% of pay rates were not provided, or misrepresented at $1 or equal to the bill rate What should the Mark Up be? If you elect to set a maximum mark up, now the key is to find what is appropriate Several factors go into determining that: • Location • Job Category or Skill set • Volume of spend
  • 20. 19 of 26© 2014 PeopleFluent | Confidential Effective Rate Strategies for VMS| April 2, 2015 43% 49% 63% 39% 52% 33% 42% 45% 43% 43% 48% 49% 24% 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% Admin/Clerical BusinessOperations CorporateServices CustomerService Finance&Accounting Health&Fitness HumanResources Legal LightIndustrial Marketing,Sales Medical InformationTechnology/ Engineering Payroll Average 41% 46% 50% 27% 33% 41% 40% 47% 41% 17% Managed Mark Up Average Mark up by Job Category of PeopleFluent Clients
  • 21. 20 of 26© 2014 PeopleFluent | Confidential Effective Rate Strategies for VMS| April 2, 2015 Align Talent demand to Rate Goals 60% 55% 50% 45% 40% 35% Volume of Spend Number of Suppliers Mark Up Hard to find skill set Geography Geography Main components of managing rates is the volume of spend you can leverage and the number of suppliers Other factors that can impact, are the hard to find skillsets or geography
  • 22. 21 of 26© 2014 PeopleFluent | Confidential Effective Rate Strategies for VMS| April 2, 2015 Align Talent Demand to Rate Goals 60% 55% 50% 45% 40% 35% Volume of Spend Number of Suppliers Mark Up A high volume of spend drives down prices Determine highest use job category or skill set leverage a lower mark up
  • 23. 22 of 26© 2014 PeopleFluent | Confidential Effective Rate Strategies for VMS| April 2, 2015 Align Talent Demand to Rate Goals 60% 55% 50% 45% 40% 35% Volume of Spend Number of Suppliers Mark Up A high number of suppliers increases cost Tier vendors by job category. Reward top performance by aligning vendors to their specialty
  • 24. 23 of 26© 2014 PeopleFluent | Confidential Effective Rate Strategies for VMS| April 2, 2015 Align Talent demand to Rate Goals 60% 55% 50% 45% 40% 35% Volume of Spend Number of Suppliers Mark Up Hard to find skill set Increased demand or hard to find skills, drive higher rates Offer higher price points on hard to find roles to allow supplier to attract that talent to your organization
  • 25. TM © 2014 PeopleFluent | Confidential Talent Insights. Business Outcomes.TM Thank You Find PeopleFluent on… Twitter: twitter.com/peoplefluent LinkedIn: linkedin.com/company/peoplefluent Facebook: facebook.com/peoplefluent Blog: peoplefluent.com/resources/peoplefluent-blog Cheryl Tracz Director – VMS Strategic Services o. 919-645-2986 c. 919-812-0824 e. cheryl.tracz@peoplefluent.com

Editor's Notes

  1. About PeopleFluent   PeopleFluent, the leading total workforce HCM technology company, redefines Talent Management with an innovative Talent Engagement Cloud that is built around people and not HR processes.  PeopleFluent has worked with over 5,100 organizations in 214 countries and territories to engage employees to drive better business results.  Today, 80% of the Fortune 100 relies on PeopleFluent as part of their talent management delivery strategy, helping them successfully achieve their talent aspirations.