Building A Skills Database

The Business Challenge

The IT department of a large financial services company had chosen to rely heavily on contract labor but they were spending more for services than budgeted by millions of dollars. The process to get a new contractor in the door and set up was lengthy and adversely affecting project schedules. IT managers spent a significant portion of their time reviewing resumes and screening candidates from a very large vendor list.

Expert’s Solution

We help the client establish a vendor management function, interviewing, “hiring” and training internally transferred workers. We reduced the number of vendors from over 120 to seven and established a controlled exception process to meet special needs. We established a process for staffing projects that gave employees a better chance at new project/new technology work and built a skills database to assist future staffing decisions. We created a scorecard to report weekly on contractor expenses and manager satisfaction with contractor firms. We created and enforced a vendor code of conduct to save managers from being interrupted.

Results

We saved $10 million a year on contractor fees the first year and we reduced the time it took to get a contractor on board and productive from three weeks to three days. We improved employee morale by putting them first in line for new projects and for working on projects employing new technologies.

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