This article, based on a recent ebook, explores one of the key benefits of incorporating your extended workforce into your VMS. We’re looking at direct sourcing, freelance management, talent pools, referrals, and talent pools.
The first benefit of including the extended workforce in your VMS is the ability to increase the number of candidates in your system. A modern VMS can do so much more than just gather talent through staffing suppliers.
While the automation that a VMS provides comes with major benefits when managing contingent staffing, it doesn’t need to stop there. Widening the net of your VMS to include the extended workforce naturally lends itself to a wider talent pool.
You can extend the reach of your VMS to gain more candidate submissions through:
- Direct sourcing
- Freelance management systems
- Referrals
- Talent pools
RECOMMENDED READING | ‘How (And Why!) to Align Your ATS and VMS to Form a Total Talent Ecosystem’
Direct Sourcing
Direct sourcing allows you to meet your prospective hires where they already are. Through your own careers site or a third-party job board, you can attract talent via your employer brand in the places workers are already looking for relevant positions. Not only does direct sourcing cut costs by removing the finder’s fee, but it can greatly broaden the range of talent you have access to.
Freelance Management Systems
Expand your hiring horizons by integrating a Freelance Management System (FMS) with your VMS. Separate from direct sourcing, an FMS gives you the ability to store, group, and curate talent for future use.
This integration means that existing talent from your pool can be matched to the right role and automatically pulled into your VMS to be assigned to your payroll vendor. Similar to direct sourcing, this integration can also bring about cost savings through cutting out the middleman and reducing commission or finder’s fees.
MORE FROM THE BLOG | ‘What Are the Benefits of a Combined Direct Sourcing and VMS Strategy?’
Referrals
Referrals are another great way to source additional talent. These referrals can come from employees, vendors, or hiring managers. Contingent workers or freelancers could also refer other people to you if they’re unavailable for a job you’ve approached them for. All of this will add to your talent pool for current and future positions. The best way to find top contingent talent is through their peer network that’s already working with you.
Talent Pools
Your talent pools are a significant source of potential candidates for your entire extended workforce. You can gather data on candidates from your VMS, FMS, ATS, and any other systems you may be using to manage your workforce. This will allow you to not only have a greater overview of your entire talent pool but will also allow you to screen and match up more candidates to more vacancies.
This blog post has been adapted from our ebook ‘4 Benefits of Incorporating Your Extended Workforce into Your Vendor Management System’. Want to know more? Download your copy now.
Meet the Expert
Nikki Williams – Marketing Brand Manager
Nikki Williams is responsible for marketing strategy and implementation for VectorVMS. In her role, she helps contingent workforce professionals discover the value of a vendor management solutions through blogs, webinars, conferences, and more. Her goal is to ensure these professionals can quickly find answers to their questions about VMS technology. Nikki has more than 10 years of experience as a marketing professional for technology, including human resources technologies as well as leadership and organizational development services. Connect with her on LinkedIn.
