“It is a capital mistake to theorize before one has data.” –– Sherlock Holmes in a Study in Scarlet by Arthur Conan Doyle
Too many companies make decisions about their staffing needs, patterns and spend based purely on theory, general consensus or informal management feedback. It’s a common mistake because not everyone has easy, quick access to the critical data needed to make informed decisions. Sometimes that’s because it is simply too hard to pull it all together, especially if you use multiple staffing vendors to supply your organization with contingent talent. Getting the sources, numbers and presentation of the numbers together in a cohesive way can be like comparing apples to oranges.
Enter a VMS platform like Ringo, which allows you to capture real time data from all your vendors when you want it, and in a uniform format allows you to compare apples to apples. A VMS isn’t just about generating electronic timesheets – although that is often how it is perceived, rather you are getting a TOTAL temporary talent management system to manage your temporary labor pool, and to regularly monitor all of its’ components from requisition to fulfillment and beyond. There are a multitude of reports within the Ringo platform that when used to analyze the data can ultimately yield big savings AND big decisions on your most important investment –– people!
Here are just 3 of the many Ringo Reports available to you with the click of a mouse.
Account Review
With this report you can review your overall spend and have it broken down by department, cost center or location. You’ll know exactly how many temps you are using in each department, the supplier and how many hours they are working per week and which member of your team requested and authorized usage. This can help you evaluate whether your spend is out of line with revenue and whether there is renegade spend or unnecessary overtime.
Vendor Analysis
Do you have an accurate understanding of your most successful suppliers – who fills the majority of your openings and whether or not you pay the same rate for each skill set? How about how many jobs have been filled by each vendor and their average bill rate? All great and essential data. You must know which staffing supplier is best addressing your needs in terms of time, performance and costs.
Position Analysis
Where are your skill gaps, which departments are under or over staffed. This report can help you save by identifying how much is being spent for specific positions in each department. It offers a breakdown of usage by position, department, the number of jobs for each position, hours worked and average bill rate.
Ringo gives you access to a variety critical reports for reviewing data that is an absolute must for your contingent talent game plan. As the great sleuth once said, “It’s elementary, my friend.”