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Posts Tagged ‘Vendor Management Solution’

5 ways a Vendor Management platform will provide an influx of talent without the hassle

RecruitAlliance:  The no-cost vendor management solution for hiring companiesThe war for talent refers to an increasingly competitive landscape for recruiting and retaining talented employees. It's not a set of superior Human Resources processes, but a mindset that emphasizes the importance of talent to the success of organizations. The term War for Talent comes from a late-'90s warning from McKinsey & Co. that alerted business to a coming talent shortage and urged companies to prioritize talent strategies around recruiting, retaining, and developing key employees. The statistics speak for themselves; by 2020, employers in the world’s richest nations are forecast to be short as many as 18 million college-educated workers.

What can organizations do to ensure they have access to top talent by the most efficient means, while increasing their candidate flow? Outside of cultivating talent from within, making learning on-demand, and redefining 'success' within a company, what can employers do to win the war for top talent?

A thoughtfully implemented and robust vendor management system (VMS) can completely optimize the disjointed and complicated process of the acquisition and management of a contingent and permanent workforce. A good VMS can result in significant cost savings through more efficient processes at every step of the workforce supply chain.

How can a VMS improve the talent pool for a growing company? Here are 5 ways a Vendor Management platform will provide an influx of talent on a consistent and scalable basis.

1. Significant cost savings across the enterprise. Many hiring companies do not have a centralized recruitment process. As such, fee negotiations with staffing and recruitment agencies is done by individual hiring managers, based on their approved talent acquisition budgets. By implementing a quality Vendor Management System, companies become empowered to reduce costs across the board.

2. Reduce time-to-fill metrics. For everyday a key position remains open, a department or business division loses precious revenue. Filling these jobs can impact an organization at every level. Time to fill is a measurement of how long it takes an organization to fill a position once the opening has been approved. It is an indicator of hiring efficiency but should be balanced with cost and quality hiring measures. Time to fill can provide valuable feedback in determining which sourcing methods and recruitment strategies can most quickly produce the needed candidates. Cost of vacancies in jobs can be significantly reduced by driving down the time it takes to fill a job. When hiring companies opt to utilize a VMS, they choose to take control of the speed at which their roles are filled with the right people.

3.  Source higher quality talent.  When a company works with staffing agencies to fill a specific role, they are often unsure which agency will deliver results. They may spend hours seeking one or more external recruiters who specialize in the area of their openings, and even more time completing an intake session with each recruiter.  Utilizing a Vendor Management System, matching recruiting agencies receive an instant email notification of the newly posted job, access the job order, and begin submitting candidates.  This process significantly streamlines the entire talent acquisition process, and ensures candidates are submitted who match the job specifications.

4.  Consolidated invoicing.  When an employer works with multiple search firms, they must receive and process multiple invoices based on different payment terms.  The process is taxing to the Accounts Payable department within the business, and can create further customer service issues for the hiring manager.  When working through a quality VMS, they offer managed billing or consolidate invoicing.  The agency simply invoices the Vendor Management company, and the Vendor Management provider processes everything.  When billing questions arise, it is the VMS company who handles the additional phone calls, emails and inquiries.

5.  Positively impact retention, while providing employers with the ability to measure recruiting agency performance.  It's no secret--when top talent comes your way, and a replacement or money back guarantee is in place, your hires are far more likely to remain in their new role.  Leveraging a Vendor Management solution impacts retention, which ultimately affects profitability.  With full-reporting capability, most VMS's provide employers with a wealth of statistical data to analyze their Vendors' results, to determine if maintaining the relationship is worthwhile for future endeavors.

RecruitAlliance is a no-cost Vendor Management Solution preferred by small, medium and large business entities.  This recruiting tool has successfully helped Clients reduce talent acquisition costs, reduce time to fill, improve retention, and provides employers with more control over cost, contracts and compliance.  To learn more, visit www.RecruitAlliance.com.

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HR Strategy Room: Solving the Procrastination-Feedback Loop – a Critical Element in Hiring Success

Comments Off on HR Strategy Room: Solving the Procrastination-Feedback Loop – a Critical Element in Hiring SuccessWritten on February 19th, 2015 by
Categories: Corporate Recruiters, Human Resources
RecruitAlliance helps break the cycle of inefficiency.

It doesn't matter what job you hold or at what level, we all need feedback on a timely basis. For corporate HR professionals who are busy designing a new diversity recruitment strategy and forward a proposal to their CEO for approval--they need feedback. A Talent Acquisition Manager who wants to implement a quality Vendor Manager Solution needs prompt feedback from all decision makers. A Compensation and Benefits Manager who realizes their organization is not offering a competitive starting salary to their executives and requests an 'across-the-board' increase from the HR Director needs feedback.

Feedback drives business on every level. Without it, processes become inefficient and progress becomes stifled. Successful collaboration and enthusiasm in completing the task at hand are significantly diminished. The emotional ROI declines at a steady and rapid pace. When working with external recruiting partners or other service providers who are not provided with timely feedback, the probability of mutual goals is minimized.

Procrastination is defined as the practice of carrying out less urgent tasks in preference to more urgent ones, or doing more pleasurable things in place of less pleasurable ones, and thus putting-off impending tasks to a later time; sometimes to the "last minute," before a deadline.

Let's face it--in the typical fast-paced and demanding Human Resources department, there is no time to procrastinate. Requesting and providing feedback is critical to the success of your department and the company. The scenario is the same when working with third-party search professionals. Recruiters strive to provide hiring companies with quality candidates. They work for free unless a hire is made. It's a pretty big investment of time and energy on their part, with no guarantee of any return. Putting yourself in their shoes, isn't it only reasonable for your recruiting partners to request and anticipate feedback on their candidate submissions, promptly?

Here are the top four steps to put an end to procrastination, and start providing timely feedback to your internal and external customers, today.

1. Break work down to manageable chunks. Stop overwhelming yourself! Do one task at a time, and focus on it exclusively. Experts recommend working for 25 minutes, take a 5 minute break - and repeat the process.

2. Plan your day and work your plan. Calendars with reminders are an excellent way to manage your time and stay on-track. Leverage mobile tools, like Focus Booster, Mind42, or MyLifeOrganized (MLO) offer excellent time management assistance, on-the-go.

3. Work in an inspiring environment. Where do you get the most work done? If you are more productive working outside at a picnic table in the sunshine, request special permission from your boss. Look at where inefficiencies exist in your current workflow, and change them.

4. Surround yourself with people who do not procrastinate and who inspire you. Everyone has peers who naturally motivate them to be more and accomplish more. Keep those individuals in your professional inner-circle, and move away from those peers that drain your energy-levels.

Timely feedback serves as a lifeline for every successful business process, and effectively inhibits the cycle of procrastination and inefficiency. RecruitAlliance is a Vendor Management System created exclusively to help organizations optimize their talent acquisition work-flow and maximize their relationships with third-party recruiting agencies…..all at no cost to your company. To learn more or schedule a demo, click here.

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