Hays Talent Solutions provides customised services including Recruitment Process Outsourcing (RPO), Managed Service Provider (MSP) services, Vendor Management Solutions (VMS), and modular services.
The study conducted by Oxford Economics and SAP Fieldglass last year highlighted the significant reliance of many organisations on the external workforce, including contingent workers and service providers, in helping organisations achieve a broad range of business goals. More importantly, the study has revealed the critical need for companies to better manage this sizable workforce to maximise value and minimise risk.
Commonwealth Bank of Australia (CBA), having at least a 2000-strong ‘contingent workforce’, is proving that it is way ahead of the curve with its recent partnership with SAP and Hays Talent Solutions, a recruitment and workforce solutions provider. The strategic alliance dubbed “Project Flex” has set up CBA’s new ‘contractor hub’ to help the bank execute an effective contingent workforce management.
Shane Little, Hays Talent Solutions Managing Director for APAC explained that many organisations in the marketplace have established a contingent workforce program underpinned by a vendor management system. However, only a few have succeeded because of the sheer volume of transitions and complex technology integrations that have been achieved at CBA. She explained:
“The goal has always been to improve CBA’s access to the best contingent talent in the marketplace and the hard work of the last 12 months has laid the foundations to truly differentiate the bank as an employer of choice for this increasingly important demographic.”
“It’s been fantastic sharing the experience with CBA and we look forward to the next stage of the partnership and building on the achievements to date,” she added.
‘Project Flex’ is implemented by Hays Talent Solutions and is recognised as “the largest managed service program in Australia”. The contractor hub leverages SAP technologies including SAP Ariba, a cloud-based marketplace for business-to-business transactions, and SAP Fieldglass, a cloud-based, open Vendor Management System (VMS).
Aside from providing CBA with clear visibility on total contractor tenure, the new contractor hub has also standardised screening process for all non-payroll workers. The hub has significantly increased the number of contractors engaged through a panel of preferred suppliers from around 75% to over 99%. It has also allowed different parts of the organisation to “self-serve” access to contract resources.
Now with a consistent process to engage with approved suppliers on fixed rates, CBA is able to attract talent efficiently through a digitised selection and approval process. The solution is also able to improve contractor productivity by reducing the onboarding period.
Scott Wharton, CBA’s Group Executive for Program Delivery, stated:
“Our contractors are an important part of our workforce and Fieldglass provides them with a significantly improved time-sheeting, payroll, and support experience.”
Explaining how the hub is enabling CBA to reduce costs, Wharton said:
“Streamlining our payroll and insurance fees through using a single hub means we are not only helping to simplify the bank, we are also contributing to reducing Group costs.”
According to a CBA spokesperson, in cases where the bank needs access for short-term expertise, they use a contractor panel solution backed by SAP technology that can connect CBA to contractors.
About Hays Talent Solutions
Hays Talent Solutions help organisations thrive in the new world of work by offering technology-enabled workforce solutions designed to deliver on the promise of Total Talent Management. The company offers a comprehensive suite of services from Contract Mnagement Outsourcing (CMO) to total talent solutions, MSP to RPO.
Headquartered in the UK, the Hays Talents Solutions has over 10,000 staff operating from 265 offices across 33 countries across 20 specialisms.