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Today’s Presenters: Larry Basinait, Elliot Clark, VP Market Research

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Presentation on theme: "Today’s Presenters: Larry Basinait, Elliot Clark, VP Market Research"— Presentation transcript:

1 A Data Driven Approach to Understanding Client Trust and Operational Excellence

2 Today’s Presenters: Larry Basinait, Elliot Clark, VP Market Research
SharedXpertise Elliot Clark, CEO

3 trust /trəst/ noun 1. firm belief in the reliability, truth, ability, or strength of someone or something. “Good relationships are built on trust" Synonyms: confidence, belief, faith, certainty, assurance, conviction, credence; reliance

4 Question: How we will measure the impact of Trust in the outsourcing relationship?
Answer: Through the use of Correlation Analysis

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7 Correlation Coefficient
Correlation By the Numbers Correlation Coefficient Definition -1.00  A perfect downhill (negative) linear relationship -0.70  A strong downhill (negative) linear relationship -0.50  A moderate downhill (negative) relationship -0.30  A weak downhill (negative) linear relationship 0.00  No linear relationship 0.30  A weak uphill (positive) linear relationship 0.50  A moderate uphill (positive) relationship 0.70  A strong uphill (positive) linear relationship 1.00  A perfect uphill (positive) linear relationship 0.50 0.70

8 Pratfalls of Correlation Analysis

9 Pratfalls of Correlation Analysis (Continued)
Correlation does not imply causation 1 It does not prove one variable can affect another variable 2 It’s easy to get carried away – Correlation analysis is the most abused statistical measure 3 Correlation only measures the strength of linear relationships and does not imply a relationship between the variables 4

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11 Analysis to Establish Trust Relationship
We examined responses from 5 Baker’s Dozen Studies between : RPO MSP Recognition Screening Relocation N= 5,872 Calculated the Pearson Correlation Coefficient for Trust and Overall Satisfaction

12 Correlation with Trust
Trust Correlation The provider’s team is the most highly correlated factor for trust and overall satisfaction Likelihood to recommend is nearly as highly correlated. The metric is used for insight into loyalty and willingness to stake one’s reputation on the outcome Honoring commitments is usually tied in very closely with SLA’s Composite Baker’s Dozen Calculations Correlation with Trust 0.76 The team assigned to my account does a very good job... 0.75 Based on my experience, I would recommend this provider to other organizations. 0.74 This provider honors their commitments. 0.70 This provider responds well to criticism and makes changes to improve problem areas. 0.66 This provider operates within the parameters of their Service Level Agreements. 0.65 This provider makes it easy to add enhancements to my program. Honorable Mention (Only asked in RPO) 0.67 The provider has been flexible & scalable in responding to our changing needs

13 Correlation with Trust and
Overall Satisfaction Linkage between trust and overall satisfaction high Nothing has a higher correlation for RPO than flexibility and scalability Again the importance of the team is illustrated RPO Correlation Trust Overall Satisfaction 0.67 The provider has been flexible & scalable in responding to our changing needs. 0.66 0.88 Based on my experience, I would recommend this provider to other organizations. 0.75 The team assigned to my account does a very good job managing staffing operations. 0.65 1.00 Overall I am very satisfied with this provider. 0.63 This provider honors their commitments. 0.72 I believe our provider has helped us in our approach to staffing. 0.61 0.70 This provider improved our staffing function during the time we outsourced to them. This provider makes it easy to add enhancements to my RPO program. 0.60 0.68 This provider responds well to criticism and makes changes to improve problem areas. 0.55 This provider operates within the parameters of their Service Level Agreements. 0.51 0.57 The team assigned to my account has remained stable and consistent. 0.51 0.57 The team assigned to my account has remained stable and consistent.

14 Baker’s Dozen Recognition Services
It’s all about the team Broad measures like overall satisfaction and positive experience correlate highly with trust It’s better to have been criticized and lost than to have never been criticized at all Recognition Correlation Trust Overall Satisfaction 0.80 0.76 The team assigned to my account does a very good job at program management 0.78 1.00 Overall I am very satisfied with this provider. 0.77 0.81 This provider honors their commitments. 0.89 My overall experience with recognition outsourcing has been positive. 0.94 Based on my experience, I would recommend this provider to other organizations considering recognition outsourcing. 0.75 0.73 This provider responded well to criticism and made changes to improve problem areas. 0.79 My company has received good value for the money it has spent on this provider. 0.71 0.82 In the last 18 months, I have NOT contemplated ending the outsourcing relationship due to service issues. 0.74 This provider operates within the parameters of their Service Level Agreements 0.63 In the last 18 months, I have NOT contemplated ending the outsourcing relationship due to value issues. 0.61 This provider improved the overall reward and recognition functions since we outsourced to them. 0.75 0.73 This provider responded well to criticism and made changes to improve problem areas.

15 Baker’s Dozen MSP MSP Correlation Thou Shall Honor Thy Commitments
Still responding well to criticism Lower correlation with Team, but still strong MSP Correlation Trust Overall Satisfaction 0.77 0.93 Based on my experience, I would recommend this provider. 0.76 1.00 Overall I am very satisfied with this provider. 0.74 This provider responds well to criticism and make changes to improve problem areas. 0.80 This provider honors their commitments. 0.73 0.81 My company received good value for the money we spend on this provider. 0.69 This provider operates within the parameters of their Service Level Agreements 0.68 In the last 18 months, I have NOT contemplated ending this relationship due to service issues. 0.66 0.75 This provider improved the overall contingent labor management function since we started working with them. 0.65 0.70 This provider makes it easy to add enhancements to my managed services program. 0.79 In the last 18 months, I have NOT contemplated ending this relationship due to value issues. 0.61 0.64 The team assigned to my account has remained stable and consistent. 0.54 0.57 This provider makes it affordable to add enhancements to my managed services program. 0.54 0.57 This provider makes it affordable to add enhancements to my managed services program.

16 Baker’s Dozen Screening Services
Go team! Honoring commitments importance for a particularly time sensitive function Screening Correlation Trust Overall Satisfaction 0.85 The team assigned to my account does a very good job managing screening functions. 0.82 1.00 Overall I am very satisfied with this provider. This provider honors their commitments. 0.81 0.95 Based on my experience, I would recommend this provider to other organizations. 0.79 0.75 The team assigned to my account has remained stable and consistent. 0.78 0.84 My company has received good value for the money it has spent on this provider. 0.76 0.77 This provider operates within the parameters of their Service Level Agreements. 0.74 This provider improved our screening function during the time we outsourced to them. 0.72 0.73 This provider makes it easy to add enhancements to my screening program. This provider responds well to criticism and makes changes to improve problem areas. 0.70 This provider makes it affordable to add enhancements to my screening program. 0.69 In the past 18 months, my company has NOT contemplated ending our outsourcing relationship with this provider due to value issues. 0.67 In the past 18 months, my company has NOT contemplated ending our outsourcing relationship with this provider due to service issues. 0.79 0.75 The team assigned to my account has remained stable and consistent.

17 Baker’s Dozen Relocation Services
Particularly strong correlation for honors commitments We’re still responding to our critics Importance of adding enhancements is high Relocation Correlation Trust Overall Satisfaction 0.74 0.79 The team assigned to my account does a very good job providing my relocation solution. 0.73 1.00 Overall I am very satisfied with this provider. 0.78 This provider honors their commitments. 0.93 Based on my experience, I would recommend this provider to other organizations. 0.70 0.76 This provider responds well to criticism and makes changes to improve problem areas. 0.68 0.75 My company received good value for the money we spend(spent) on this provider. 0.66 In the last 18 months, I have NOT contemplated ending this outsourcing relationship due to value issues. 0.65 In the last 18 months, I have NOT contemplated ending this outsourcing relationship due to service issues. 0.61 0.67 This provider makes is easy to add enhancements to my relocation program. 0.60 0.69 This provider improved the overall relocation function since we outsourced to them. This provider operates within the parameters of their Service Level Agreements 0.56 0.62 The team assigned to my account has remained stable and consistent. 0.54 This provider makes it affordable to add enhancements to my relocation program. 0.54 0.61 This provider makes it affordable to add enhancements to my relocation program.

18 Connection Between Trust and Breath of Services
We looked at the connection between the average number of services clients get and average trust scores (Scale of 1-5) The composite of all Baker’s Dozen scores over the last 3 years shows a linear relationship. The more services in the contract, the higher the level of trust The direct relationship among RPO clients is even more pronounced. RPO providers typically have the broadest spectrum of services available

19 Wrap Up While correlation doesn’t mean causation, there are key cause and effect factors that consistently influence trust: Honoring commitments Team management and stability Responding well to criticism Ease of adding enhancements More services in line with greater trust Affordability related to trust

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