The share of contingent workers in the composition of a company’s total workforce has been relentlessly trending up. This makes it essential for businesses to establish appropriate strategies for managing their contingent workforce programs. There are many ways to achieve this objective and many technologies which offer to streamline a contingent workforce program, while reducing its complexities.
Are you happy with the way your contingent workforce program is running? In other words, are you able to optimize the use of your contingent workers? Are you unhappy but resisting change, thanks to institutional inertia? How would you recognize that you need an efficient and effective tool, which can help you manage your extended workforce? I hate to play ‘doubting Thomas’ and question the efficacy of a home-grown staffing program, which includes contingent workforce management, but it’s essential to be aware of the wholly avoidable risks brought in by such a program. Nor will I say that a Vendor Management System (VMS) or a Managed Services Provider (MSP) is the only answer to your needs.
Better still, why don’t you take this quiz to determine whether there’s a need for you to adopt a VMS, or switch to new one (in case you are actually using a VMS software, but have none of this information readily available):
If the answer to any of these questions is “no” or “I don’t know,” then you need a VMS!
Really, the key point to stress is that the VMS gives you insight if you aren’t able to give a definitive answer to a question about your non-employee labor – so you either need a VMS or you need a new VMS.
Other questions to consider cover your satisfaction with your existing VMS:
Of course, a VMS is capable of delivering much more value than just the automating your contingent workforce program or bringing in the best practices.
VMS solutions which were originally developed to manage a company’s staffing suppliers, vendors and agencies, have evolved quickly to capabilities that help in managing the modern contingent workforce umbrella, which includes “classic” temporary labor, complex contract talent (SOW, services, etc.) and independent contractors. Not content to rest on its laurels, the VMS of today is building on its existing offerings to keep pace with the functionalities that are required to help take contingent workforce management into the future.
Does your VMS vendor qualify as an innovative and creative product that’s set to develop great new features? If not, then maybe it’s time you looked around. Click here to learn more!
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