Master vendor contract at IPC Media

In May 2008 IPC Media renewed its Master Vendor contract with Meadows Consulting for a second three-year term. The relationship is a prime example of how a close and trusted partnership between employer and recruitment agency can benefit everyone involved.

Working with a Master Vendor

Under a Master Vendor arrangement employers are saved the time and administration expense of briefing and managing multiple recruitment agencies and contractors.  And that’s not all:

• By appointing a single ‘Master Vendor’ agency to oversee all recruitment activity, employers benefit from knowing that all agencies are working to a common set of practices and business terms. 
• By encouraging inter-agency cooperation and free flow of information, employers get a better service and the agencies gain a better understanding of the company’s culture and skillset. 
• The Master Vendor will also look out for the contract staff placed with the employer, providing an independent point of view, answering queries and giving advice and guidance on legal, business or contract work issues.
   

The Master Vendor Arrangement at IPC Media

For both IPC and Meadows, the Master Vendor relationship is about much more than numbers. Looking beyond the salary figures and the size of the (contract) workforce, both parties agree that it’s a relationship built on a strong understanding of the employer organisation’s business model and culture; the external market in which the business operates; and the internal environment in which employees will work.

The success of the relationship is down to the parties adopting and adapting a unique formula for attracting the right individuals into the organisation. Whilst skills, experience and market knowledge need to be rewarded by an appropriate salary, Meadows has created a recruitment approach that gives appropriate emphasis and weight to the workplace environment, corporate culture, employee benefits, coaching and training. The recognition that the sum of the parts is greater than a simple exchange of skills for salary has enabled IPC Media and its employees to enjoy a strong set of mutual benefits.

IPC’s reasons for renewing the Master Vendor contract in 2008 were threefold:

• The original Master Vendor contract has increased the level of service provided to the business.
• It has kept salaries at the right level.
• It has created a happier, more productive workforce.

Trevor Meadows summarises the Master Vendor arrangement at IPC Media like this, "it's about being passionate, it's about challenging one another and it's about taking a creative approach to building long-term benefit into the relationship."

This article was written on behalf of Trevor Meadows. If you’d like to examine the benefits to your organisation of a Master Vendor arrangement, contact Trevor Meadows on 01647 221360 for his professional advice.