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Happy Review, Reuse, Reduce Year!
The New Year has officially been rung in. Out with the old and in with the new… or so they say. Right? Wrong! A fresh start does not have to mean starting from scratch. That’s why the start of the New Year is a perfect time to Review your current program. The first step is to analyze what worked for you last year and what didn't. Where did you spend the most money? Was it necessary to spend all that money? Is there a benefit you didn't offer that your competitor did and may have cost you that perfect candidate? Should you break your program out into multiple policy levels or consolidate them?
Now that you know what worked, Reuse it. Get rid of the things that didn't, make modifications and additions to your program as needed. Once you have completed your review and analysis, you are ready to update your policies accordingly.
This process may seem tedious, long, and complicated at times, but a successful policy review and benchmark can help to Reduce your overall costs, making it more than worth it. Of course, there is no need to go it alone; your GMS Account Manager can help you with this process!
Take a look at the Case Study below where GMS was able to save our client (we’ll call them Client A) an annual savings of $756,328 after implementing GMS' best practices.
Client A Case Study
After an extensive RFP process, GMS was awarded the contract with Client A principally because of our unique pre-decision program and tailored service model. Client A recruiters have reported that the acceptance rate has improved and GMS’ “true freedom of choice” has allowed them to utilize their preferred vendors and experience a significant cost savings on each van line move and hotel costs.
Due to the high level of customer service that GMS was able to provide to Client A, we were able to identify areas that needed improvement in their existing policies, and implement them quickly. Furthermore, thanks to GMS’ enhanced reporting capabilities, Client A was able to effectively track and see the results immediately. In the first year of service Client A’s Total Annual Savings with GMS was $756,328.
Break Down of Cost Savings:
One and a half hotel nights per transferee because GMS’ van line contracts have shorter required delivery dates: $71,550 annual savings
$815 van line savings per move because GMS offers two estimates vs. one: $366,750 annual savings
Household Goods Move: $196,528 annual savings
Lower initiation fees than the previous provider: $121,500 annual initiation fee savings
Don't just take our word for it.
“By initiating relocations prior to the face-to-face interview, transferees have arrived quicker, have settled in better, and stayed longer. The GMS freedom of choice model has allowed us to modify our relocation policy to require two van line estimates on every move, which has reduced our costs all around. In addition, GMS has much shorter delivery spreads than what we were experiencing prior to the relationship, which is saving us on average two hotel night stays per transferee. Because of GMS, we have experienced a significant cost reduction all around.”
– Client A Talent & Acquisition Manager
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