Companies with a large external workforce often use a preferred supplier process, operated through a Managed Service Provider (MSP). The administration can be carried out efficiently with a Vendor Management System (VMS). Under this set up, iET is a preferred long-term supplier to two large banks in Switzerland. We are very proud to be able to add value to their businesses.
Our global banking client had a rapidly-growing external workforce, which left them exposed to financial, reputational and compliance risks, as their suppliers and contracts also increased. There was therefore a need to streamline these processes and transfer the associated risks to capable experts.
The priority was to take care of all the legal and social security matters for temporary employees, making the entire operation more manageable. It was important for spending on external workforce to be controlled. Employment procedures had to be made more transparent too, as this aspect was missing but equally vital.
The preferred supplier process enabled our client to narrow down their preferred suppliers from hundreds to only five (iET being one of them), carrying out in-depth vetting of each one. Framework conditions are set up for all of them, mitigating risks and saving man hours with clearly-defined prices, KPIs and delivery deadlines. As a preferred supplier of our client, iET are a trusted partner in matters around contractor sourcing and employment.
We provide our client with expertise around market trends, market salaries, the latest Swiss labour rules and legislations, and temporary staffing laws. We also assume all legal risks by hiring the contractors under iET, rather than them being employed by our banking client. The client can focus their own time and energy on their core business, rather than on procurement. They are no longer exposed to the previous risks and they can save both money and man hours.
iET has been a great partner. The mix of recruitment delivery capabilities combined with a very personal touch and a solution-oriented approach differentiate them from a majority of the supply base. Furthermore, iET works on very reasonable commercials, which is why they are always open to disclose information when it helps to avoid conflicts. This fair commercial approach also enables them to provide high quality candidates on projects with tight budgets.
- Daniel K. former MSP Program Manager of Major Bank‘‘