LinkedIn recently published a survey that stated 80–90% of talent acquisition organizations leverage social networking sites in their recruiting activities. If your organization does not leverage social media when recruiting candidates, you are late to the game. Based on our experience helping clients transform their talent acquisition organizations, ScottMadden has identified four social networking strategies that every talent acquisition organization should employ. Download this report to learn more.
Solving the Challenges of Email Management in a Shared Services Center
Do you use email as a communications channel in your shared services center? If your shared services operations are like most, email requests are a significant percentage of all contacts. We have seen companies report up to 30% of contacts via this channel.
ScottMadden believes shared service organizations (SSOs) can significantly improve service while reducing costs by decreasing reliance on an email communication channel. Our experience is that moving away from email can provide significant advantages for the SSO and its customers. With the right plan, technology selection, and thorough change management, companies can reap significant performance improvements while improving customer experience.
Additional Contributing Author: David Adams
What’s Next in Shared Services
Our View of the Top Trends and Why They Matter
Most would agree that the shared services industry has reached a substantial level of maturity. In fact, SSON shared at their recent Shared Services and Outsourcing Week conference that 90% of Fortune 500 companies have a shared services model. While SSOs are maturing, continuous improvement and expansion are always top of mind for leading organizations. Paying attention to key industry trends can help SSOs prioritize their initiatives and continue to create value for enterprise organizations.
Utility Warehouse Consolidation…A Waste of Time or Cost-Savings and Performance Driver?
In a recent article, “Electric Utility Inventory Analysis and Optimization,” we addressed ways in which electric utilities can determine how much inventory they need to support a company’s generation, transmission, and distribution assets. Looking beyond optimization, utilities should also consider how their warehouse network strategy is impacting supply chain performance and costs. Implementing an improved warehousing strategy has enabled some supply chain organizations to realize savings that equate to 10% to 15% of their total inventory value.
Implementing HR Shared Services with Limited Technology Investment
HR organizations typically transform their HR service delivery by leveraging a shared services model. The movement to a shared services model has proven to decrease costs, increase efficiencies, and improve customer service. However, if an HR organization is faced with limited financial and human capital resources, there are elements of the shared services model that make it difficult to implement with these constraints.
ScottMadden has partnered with many clients to evaluate, select, and implement both existing and new HR technologies. Regardless if you chose to use an in-house technology or select a new technology, neglecting to clearly lay out how the system will be used prior to selecting the final system often leaves our clients scrambling to modify processes to fit the product.
Complying with Federal Sustainability Initiatives
The U.S. federal government has taken firm steps toward reducing its environmental footprint through various commitments. To address shortcomings in the program, especially around green building targets, innovative contracting mechanisms have been developed to accelerate the project approval lifecycle. There are lessons to be learned for large organizations seeking to reduce their energy and water consumption, and achieve their sustainability goals.
Inventory Carrying Costs in the Electric & Gas Utility Industry
The calculation and use of inventory “carrying costs” is a standard leading practice in supply chain management. In a recent multi-industry benchmarking survey, more than 78% of the respondents indicated that they calculate and apply this metric. More than half indicated that they use the metric to make inventory management decisions. Similarly, a study of supply chain management software found that the most frequently used module was the inventory optimization and replenishment module which uses inventory carrying costs to estimate optimum levels of inventory for each item. Eighty-five percent of the respondents currently use, or plan to use, this module as part of their supply chain management operations.
Distributed Resources and Utility Business Models – The Chronicle of a Death Foretold?
Many have claimed that increasing self-supply, e.g., distributed generation and microgrids, begins a death spiral for utility business models. Is this true? What should utilities do now?
This white paper discusses the drivers and implications of self-supply, as well as what utilities can do now. While the industry may be facing profound changes to the manner in which electricity is produced and delivered, there is an opportunity for utilities to begin to integrate new resources in a way that leverages existing infrastructure and ensures (and even improves) reliability. The white paper also profiles strategic and tactical implications of customer self-supply.
The Next Step for Mature Shared Services Organizations – Establishing an Independent Entity
Independent Shared Services
Major Fortune 500 companies have been using shared services as an efficient, effective means of providing corporate support services to subordinate businesses since the 1980s. Major companies like British Petroleum, Ford, General Electric, and others have used the shared services model to reduce costs, improve service, improve compliance, and/or streamline processes with great success. A survey conducted by the Shared Services and Outsourcing Network (SSON) in conjunction with Hackett reports that at least 30 percent of companies enjoy greater than 20 percent cost savings by implementing this model. Some companies have reported much higher savings.
Shared Services and Business Analytics
More than ever organizations understand the value effective analytics can have on their businesses. Most organizations face two primary obstacles in realizing the value of analytics: the lack of technology integration and the inability to secure and develop the right talent. Many companies are investing in predictive analytics capabilities, but they are still in the early stages of maturity. We found that only a few companies have been able to make the necessary investments to successfully overcome these obstacles and reach the end-state benefits so often attributed to effective use of predictive analytics.
Business Analytics Maturity
Many articles and papers have been written about the benefits and value of analytics. Over the last several years, leaders have realized the impact effective analytics can have on their organizations. As these leaders attest, the benefits are indeed real. However, the process to achieve effective and comprehensive predictive analytics capabilities is a journey. And, as with any journey, the best way to understand where you would like to go is by first knowing where you are.
Knock-on Effects of the Dash to Gas
ScottMadden believes that electric/gas convergence poses significant risks, and opportunities, to individual businesses in both the gas and electric industries. Some companies will make money due to this interdependence. And some will find themselves in the newspapers, front page, top of fold.