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| IFMA National Website |
Reverse Auctions: The High Cost of Low Prices By Randall Weis Let’s get the facts about reverse auctions on the table. Is there a bargain in this bidding method? In an ordinary auction, buyers compete for a good or service. In a reverse auction, sellers compete to obtain business. The goal is to drive down prices—low prices are always good, right? Not so fast. Consider this scenario: you’re an experienced, successful facility manager and it’s time for your annual salary review. Your boss has the company in cost containment mode and decides to save money in your area by running a reverse auction on your job. You’re now a commodity going on the block just like paper towels or floor care. Rather than compliment you and renew your position for a year, the company has invited in four other candidates for a reverse auction bid for your job. Oh, and you? Of course, you can also bid, with the starting bid at your current salary. >> read more >> |
posted 1/28/08 |
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