- $145K-Plus in cost savings with DZX as a Master Vendor MSP model
- Reduced turnover significantly after 6 months on the project
- Overhauled processes led to an immediate increase in optimal talent delivery
The in vitro diagnostics industry is one of the fastest growing in the U.S. With this increased competition for business comes an equally competitive market for talent. One of DZConneX’s (DZX's) clients, an international leader in diagnostics with offices all across the U.S., was in dire need of a partner who could help it identify, vet, and onboard quality talent. With a prior talent partner that wasn’t the right fit for the company or its hiring managers, DZX needed to step in and deliver immediate results from the onset.
With the complexity of the roles that needed to be filled and the relative size of the program needed, DZX implemented a master vendor Managed Services Provider (MSP) program. Within a master vendor sourcing model, DZX was able to provide its breadth of talent services, while maintaining a small group of suppliers to fill any gaps and satisfy any supplier diversity requirements. In just a few short months, DZX delivered high-quality talent across a litany of roles, including engineering, IT, accounting and finance, production and manufacturing techs, and clinical and scientific positions. The results have proven the process.
What clients receive with a master vendor MSP program from DZX is not only full insight into their talent spend, but a significant reduction of that spend. In the first few months of the relationship, DZX was able to cut costs by more than $145,000 without losing any existing employees, relationships, or quality of work. Hiring managers are seeking out DZX to help them find total talent solutions and fill their gaps, resulting in candidates that are a better fit for open roles and greatly improved work product overall.
$69 BILLION industry
315,000-PLUS industry workers in the U.S.
68% of DIAGNOSTICS EXECUTIVES say finding talent is their top challenge
17 KEY BUSINESSES in the U.S. diagnostics market, according to the National Center for Biotechnology Information
Early identification of infectious diseases is now more important than ever. In vitro diagnostics can not only save individuals’ lives by finding health issues sooner, but it helps identify antibiotic resistance mechanisms, measure the quantity of a virus, guide and personalize treatment decisions, monitor the effectiveness of treatment, and determine the reaction of cells to a disease or infection. Advancements in diagnostics have made game-changing medical breakthroughs possible.
However, in vitro diagnostics is only as good as the people who make it happen. Today’s diagnostics companies are using sophisticated technologies combined with world-class talent to improve public health across the globe. With a market expected to grow to nearly $100 billion by the middle of the next decade, the competition for that talent is stronger than ever. Staying ahead requires a workforce solution that not only delivers talent, but delivers the best talent on time and at the right price.
For one in vitro diagnostics company with an international footprint and offices all across the continental U.S., it meant finding a total talent partner who understands their business, has deep roots in the medical and technology industries, and could provide a customized managed services program (MSP) to manage and monitor all the company’s talent. DZX was well-equipped with the experts to solve these total talent challenges for them.
By the end of this diagnostics company’s relationship with its previous supplier, they realized they needed more than a talent vendor. DZX was brought on to be a true talent partner – one who would work side-by-side with hiring managers to identify their gaps and deliver high quality candidates. With such a broad range of talent needs that had to be fulfilled in locations across the U.S., including engineering, IT, accounting, finance and clinical scientific positions, the task was a challenging one.
At one point with its previous vendor, the client began to think the talent to fill the roles they had simply wasn’t available. However, it just required DZX’s deep roster of relationships with talent, understanding of their industry, and renowned process expertise to achieve their organizational objectives.
With DZX as a master vendor, the company received all of the best parts of a DZX-managed MSP program from a dedicated talent supply chain, while still satisfying supplier diversification requirements. And after an accelerated installation from our implementation team, DZX was able to immediately deliver full visibility into workforce spending and identify where cost savings could be achieved.
DZX transitioned all contingent spend SOWs into the MSP program and now manages each aspect of the requisition management and talent supply chain. DZX’s change management process, combined with its best-in-class talent delivery, became the drivers that got everyone buying in right away — even those hiring managers that have had reservations about working with suppliers from past experience.
Early on in the relationship, for example, one of DZX’s delivery experts spoke to a hiring manager about his knowledge on a particular piece of diagnostic equipment that identified genetic irregularities. Perhaps a casual conversation at the time, this demonstration of highly technical knowledge coming from a talent specialist gave the client the confidence that DZX knew their business inside and out and knew the exact solution the company needed to fill its talent gaps.
A primary purpose of many MSP programs is to deliver cost savings to an organization, and DZX was able to achieve this. After only a few months of a partnership with DZX, the client realized more than $145,000 in savings on its total talent spend due to the transition of existing headcount to a lower mark-up. Rogue spending was brought into the program at the negotiated rates and each aspect of the client’s contingent workforce was accounted for and managed through DZX.
After years of being handed the wrong resumes and failing to acquire the top talent they strived for, DZX finally made their client market-competitive. With the help of DZX, they saw an improvement in the quality of their talent and a decrease in their costs. DZX strives to find organizations the best talent and provide clients peace of mind to know that DZX will deliver a unique solution to any challenges they have.