To strike a supply-and-demand balance for your contingent program, start by having the right rate card methodology in place, SIA advises in its Rate Card Best Practices report.
In today’s dynamic staffing agency landscape, 65% of contingent program managers report that they utilize a maximum bill rates structure to achieve balance between quality, efficiency, cost and risk among talent. This is followed by 43% who prefer pay range plus markup. Conversely, only 14% opt for the open bill rate structure.
Which of the following staffing firm rate structures are in place in your organization?
Source: SIA Workforce Solutions Buyer Survey 2023
Click on chart to enlarge.
It’s crucial for contingent program managers to regularly update their rate cards to ensure fairness, competitiveness and alignment with organizational goals amidst market fluctuations. By thoroughly evaluating the skills and qualifications required for each role, organizations can establish accurate pay structures that meet the demands of the evolving market.
Source: SIA’s Rate Card Best Practices
