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Marketplace Trends & Considerations

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Lesson:

Marketplace Trends & Considerations

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Course: RFP Process for HR
Module: Conducting a Needs Analysis
Lesson Type: Video
Lesson Duration: 1:42

Lesson Content

There are some trends and considerations you should be aware of when conducting an RFP.

First, how many vendors should you evaluate?

There is no set number, however the minimum is usually three. The maximum is open. In some organizations your purchasing department may specify ground rules. If not, a good rule of thumb is seven. So, between 3-7 vendors usually provides a good representation of providers.

Second, how do you handle your existing vendor, if one exists? Most organizations have their existing vendor rebid a proposal as long as they have done a satisfactory or better job during their contract. If a vendor has performed poorly you may choose to omit them from the process.

Third, how long should you provide your vendors to supply responses?

Again, there are no set rules, however most businesses provide a 3-4-week window to respond.

Finally, many organizations are government contractors or sub-contractors so specific rules relating to minority and veteran-owned businesses may be in effect and need to be taken into consideration when marketing and receiving proposals.

Instructor:

Mark Fogel

Mark S. Fogel, SHRM-SCP, SPHR, GPHR, is an educator working as a Senior Adjunct Professor of distinction at Adelphi University’s Business School. Mark leads HR classes for MBA and Undergrad...

Mark's Full Bio

Module 1 0/4

Understanding an RFP

Introduction

What is an RFP & Common RFPs for HR

Who is Involved in the RFP Process

Preparing for an RFP

Module 2 0/3

Identify the Purpose for Conducting the Specific RFP

Understanding Contract Lengths & Renewal Terms

Setting the Scope & Requirments

Achieving Consensus on the RFP Parameters

Module 3 0/2

Roles & Responsibilities

RACI

Module 4 0/4

Conducting a Needs Analysis

What is Important & What's Not Important?

Marketplace Trends & Considerations

Impact on the Organization

Key Measurements & Metrics

Module 5 0/3

Establish an RFP schedule

Begin at the End

Participant & Business Scheduling Considerations

Service Provider Transition Timing

Module 6 0/4

Assemble & Assess Vendors

Purchasing Department Requirements

Who & How many Vendors to Invite

Providing Information to the Vendors

Reference Checks

Module 7 0/5

Evaluating Proposals

Establish Quality & Criticality Factors

Develop a Rubric to Capture Key Capabilities

Select an Evaluation Team

Make a Selection

Complete the Process

Module 8 0/4

Post RFP Actions

Notify Winner & all Participants

Transitioning, Contracts & Miscellaneous

Conclusion

Quiz

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