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Case Study 2 - Large Financial Institution
Case Description
Company relocated more than 400 employees domestically each year. After 20+ years handling full relocation services with a staff of 12 in-house personnel, Company issued Request for Proposal to 10 relocation service providers. Client 2 wanted to test the market to validate outsourcing as a potential change.
Results Achieved
In her 30 years with the Company, the Company's Senior VP of Human Resources commented that she had never experienced a transition to an outsourced provider that was successful on so many levels.
After outsourcing to Lexicon, the Company's first year review revealed that we reduced direct inventory costs by 8% on an average home value of $420,000, which equates to $33,600 savings per move. Recently, the Company underwent a complete policy re-write and supplier savings initiative. Client 2 is anticipating a $1.3 million savings in policy and an additional $685,000 from supplier's contracts that Lexicon has negotiated.
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