VectorVMS recently announced a new partnership with a leading direct sourcing company, WillHire. This partnership comes from the desire of both organizations to help companies achieve recruiting objectives in the contingent workforce.
We caught up with Marc Husain (Managing Director at VectorVMS) and Praneeth Patlola (CEO at WillHire) to find out what they have to say about the new partnership and the push for direct sourcing.
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Marc, what has led VectorVMS to a partnership with a direct sourcing firm, and why now?
We feel like direct sourcing is the logical next step for our clients looking to diversify their sourcing strategies. While a traditional sourcing model may work for our clients today, we want to introduce direct sourcing as a method to expand their available talent. We feel as though the competition for talent is going to increase significantly as we rebuild from COVID-19. Organizations are going to need to ‘think outside the box’ to get the best talent and this is a great opportunity to do so.
Praneeth, what are the main benefits you feel VMS clients see when implementing a direct sourcing strategy?
Direct sourcing enables VMS clients to bring the modern-day true talent acquisition function into the contingent labor program. This builds an efficient alternate sourcing channel and reduces 100% dependency on third-party agencies.
A few key takeaways for the client include:
- Reducing contingent spend by optimizing bill rates
- Reducing time to hire
- Improving contractor quality with customized self-assessment and modern-day AI capabilities
- Leveraging employer brand to attract talent and deliver the best candidate experience
- Building and controlling diversified talent sourcing channels by job category
- How to re-engage furloughed candidates, as well as retired and alumni workforce.
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Praneeth, at a high level, how do the two systems work together?
Our goal has always been to implement direct sourcing to customers with zero disruption to the existing process as a ‘plug and play’. As soon as new job requisitions are released in the VMS, the WillHire platform gets them to showcase on the employer-branded job listing site. These are then sent out to relevant channels to start generating candidate traction. Once the applicants are curated, the top qualified candidate is submitted to the VMS. The existing process for clients in the VMS for identifying the worker remains the same, where they take actions and interview candidates similar to any supplier-submitted candidate.
Once the candidates are identified to hire and the work orders generated in the VMS, the WillHire system ‘accepts’ them to further send them out to the identified payroll provider to onboard.
Marc, there are a variety of players in the direct sourcing arena. What made you pick WillHire as a partner?
At VectorVMS, we felt like WillHire is a very exciting organization and shares the same energy and passion we have to provide innovative solutions to our clients. Its functionality is clean and easy to use. This is important because we want a seamless experience for our users so that there’s higher adoption of the new process. WillHire has a great methodology in the tool and a true zest for its clients and the market that made the company an obvious choice.
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What would both of you say to organizations looking to consider direct sourcing?
Praneeth: Direct sourcing is no longer simply an option, but is one of the must-have strategies to ensure contingent programs stay relevant to the way talent finds work. One of the key benefits that direct sourcing brings is the ability to engage talent with the best experience, without treating them as a commodity. Today, implementing direct sourcing is a fairly simple initiative to get up and running, taking anywhere between 24 hours to less than a week.
Marc: Obviously, times have changed and so has the way we need to look at talent. While the traditional model is a great first step, organizations are going to need to be more strategic in how they procure top talent as the war on talent returns. We see direct sourcing as a great way to engage with talent differently, which is especially important as workers are changing how they engage with work.