๐ Understanding KPIs for Cost Containment โจLaura Bloniarz shares her insights on how cost containment is measured. Dive into her latest episode of The Business Immigration Benchmark podcast for more details. Don't miss out on these insights! โฌ โฌ โฌ ๐บ Watch on YouTube here: https://lnkd.in/dqmh3hcB
Immigration Attorney @ WR Immigration | Global Mobility and U.S. Immigration Compliance - Navigating Borders with Precision
After spending the last 6 months talking with clients and other immigration/GM leaders about cost containment in their programs, here are three lessons I've learned: 1. ๐๐๐ถ๐น๐ฑ๐ถ๐ป๐ด ๐ฎ ๐ฑ๐ถ๐ฟ๐ฒ๐ฐ๐ ๐ฟ๐ฎ๐ฝ๐ฝ๐ผ๐ฟ๐ ๐๐ถ๐๐ต ๐๐ผ๐๐ฟ ๐ณ๐ถ๐ป๐ฎ๐ป๐ฐ๐ฒ ๐๐ฒ๐ฎ๐บ ๐ถ๐ ๐ฐ๐ฟ๐๐ฐ๐ถ๐ฎ๐น. Clear communication with finance is crucial to safeguard key components of your program, justify budget allocations, and support the addition of team members or technologies that will benefit your program.ย ย ย ย ย 2. ๐ฌ๐ผ๐๐ฟ ๐ถ๐บ๐บ๐ถ๐ด๐ฟ๐ฎ๐๐ถ๐ผ๐ป ๐๐ฒ๐ป๐ฑ๐ผ๐ฟ๐ ๐ฐ๐ฎ๐ป (๐ฎ๐ป๐ฑ ๐๐ต๐ผ๐๐น๐ฑ) ๐ณ๐ถ๐ป๐ฑ ๐ฎ๐ฟ๐ฒ๐ฎ๐ ๐ณ๐ผ๐ฟ ๐ฐ๐ผ๐๐ ๐ฐ๐๐๐๐ถ๐ป๐ด ๐ผ๐ฟ ๐ฏ๐๐ฑ๐ด๐ฒ๐ ๐ฟ๐ฒ๐ฎ๐น๐น๐ผ๐ฐ๐ฎ๐๐ถ๐ผ๐ป ๐๐ถ๐๐ต๐ถ๐ป ๐๐ผ๐๐ฟ ๐ฝ๐ฟ๐ผ๐ด๐ฟ๐ฎ๐บ. I did this exercise recently with a client where they had been filing L and TN extensions via USCIS (given COVID era travel restrictions) and we redeployed their Blanket program for extensions at U.S. consulates to avoid the increased USCIS filing fees. And there are more opportunities like that. While you can't control some cost increases like USCIS fees for H-1B Petitions, you can adjust program strategies to offset some of those costs.ย ย If you haven't already, ask your vendor to audit your program for savings. ย ย ย 3. ๐๐ฒ๐๐ฒ๐ฟ๐ฎ๐ด๐ฒ ๐ฝ๐ฒ๐ฒ๐ฟ-๐๐ผ-๐ฝ๐ฒ๐ฒ๐ฟ ๐ฏ๐ฒ๐ป๐ฐ๐ต๐บ๐ฎ๐ฟ๐ธ๐ถ๐ป๐ด: There are more GM benchmarking resources available than ever before. Exploring these can provide valuable insights to help you make informed cost-containment decisions for your program. That said, be aware that many public benchmarking reports ๐ญ๐ข๐ค๐ฌ ๐ต๐ณ๐ข๐ฏ๐ด๐ฑ๐ข๐ณ๐ฆ๐ฏ๐ค๐บ ๐ช๐ฏ ๐ต๐ฉ๐ฆ๐ช๐ณ ๐ฎ๐ฆ๐ต๐ฉ๐ฐ๐ฅ๐ฐ๐ญ๐ฐ๐จ๐บ. It's crucial to ensure any benchmarking data you use to make strategic decisions for your program comes from a source that aggregates survey data from ๐๐ฒ๐ฟ๐ถ๐ณ๐ถ๐ฒ๐ฑ immigration and GM professionals. At WR, we facilitate an empirical benchmarking program that is driven by a community of immigration and GM leaders, meaning there is true transparency within the data you benchmark against.ย ย DM me if you're interested in learning more!