While designing Prosperix’s hiring platform, an integral part of our innovation journey involved thoroughly examining, mapping out, and analyzing the hiring process. The primary goal was to identify potential areas for improvement through the implementation of intelligent automation. Our focus was on streamlining steps in both the main process and sub-processes that heavily relied on repetitive human tasks and demanded substantial time and effort. Within these areas, hiring managers and staffing vendors often found themselves overwhelmed with monotonous and time-consuming responsibilities. These tasks were not only challenging to track but also prone to human errors. By introducing intelligent automation in these specific areas, we aim to achieve several significant benefits. It enables effective scaling of our operations, ensuring smoother and more efficient staffing vendor management. Also, it substantially enhances the speed, quality, and accuracy of candidate submissions. By reducing manual intervention, the hiring process becomes more streamlined and efficient, resulting in improved outcomes for all stakeholders involved.
The initial areas where we have made significant investments in introducing intelligent automation and have documented greater efficiencies are:
- Aligning and assigning job requisitions to the right staffing vendors. Our technology bases this on vendors’ performance, participation, and capacity based on their active job requisitions workload.
- Evaluating new staffing vendors’ core competencies, including geographic, category, and industry experience.
- Evaluating staffing vendor performance in real-time.
- Dynamic-tiering staffing vendors to job requisitions.
Before we continue, let’s define a few things.
What is intelligent automation?
Intelligent automation is the result of combining workflow automation and machine intelligence derived from supporting contextual data and transpired business events to adapt steps to recalibrate the process to achieve an optimal outcome.
In simpler terms, intelligent automation makes technology smart enough to assist people in performing simple to complex tasks. It can do more than basic, repetitive work, such as generating a report. Intelligent automation merges artificial intelligence (AI), including natural language processing (NLP), machine learning (ML), and machine vision (MV) with robotic process automation (RPA) to perform complex tasks that require awareness and context. It’s ideal for tasks that are too complex for RPA or too time-consuming and expensive for people.
What is vendor management?
The term vendor management, or supplier management, includes all activities related to sourcing staffing suppliers, requesting quotes on their pricing, negotiating rates, assessing their core competencies and capacity, aligning and assigning job requisitions, and evaluating their performance.
What is job requisition management?
This term describes the activities included in monitoring published jobs, reviewing candidate submissions, scheduling interviews, responding to vendor inquiries, reviewing new job requisitions, publishing job descriptions, distributing job descriptions, and aligning vendors with job requisitions to ensure coverage and quality submissions.
The overhead of staffing vendor management
Imagine a typical day for most hiring managers and HR professionals using either a vendor management system (VMS) or an applicant tracking system (ATS) to manage their hiring programs and staffing vendor relationships. What do they do?
Review candidates submitted to published jobs. Move qualified candidates forward in the hiring pipeline and coordinate interviews.
Inspect all published jobs to assess if there are enough quality candidates and the hiring pipeline is healthy. If it is not healthy, alert more staffing vendors or source new vendors for support.
Evaluate new job requisitions. Then identify, align, and notify staffing vendors to support job requisitions.
Manage staffing vendors. Appraise their participation and the quality of their contributions to assigned job requisitions.
Each of these tasks, of course, consists of a number of sub-processes and sub-tasks often connected to multiple people who are responsible for accomplishing the final outcome.
Prosperix lessens the burden on hiring managers and HR professionals. Our platform’s intelligent automation reduces, or in some cases eliminates, the time required for people to perform the tedious, repetitive tasks involved in vendor management and job requisition management.
Intelligent staffing vendor management
Prosperix uses an intelligent automation framework to connect the different automation methods within the all-encompassing vendor management and hiring process. Each method has pros and cons and is carefully applied within the platform to collectively drive efficiencies and continuous optimizations previously not possible in legacy vendor management systems.
Once a job has been published to our VMS network, our platform analyzes its unique elements and success factors, benchmarking it against similar jobs. Our Job Matching Algorithm first uses this information to identify potential candidates from within your existing talent pool and alerts your hiring managers if there are matches. Simultaneously, the algorithm identifies the best staffing vendors to service the requisition based on their past performance with similar jobs and their current capacity, ensuring that staffing vendors with the right experience and bandwidth are working on your jobs.
Working in tandem with our Job Matching Algorithm is our Job Distribution Algorithm. It uses the staffing vendors’ past performance (including which job requisitions they received, saved, and submit qualified candidates to) concurrently with benchmarking against similar jobs across the program with the concept of capacity (how many open job requisitions can a vendor effectively support) to notify and invite the appropriate recruiting resources to each job.
The Job Distribution algorithm also mitigates hotspots—jobs receiving attention from too many recruiters while other jobs go neglected—by monitoring all open jobs, measuring vendor activity, and tracking Key Performance Indicators (KPIs) at every stage of the hiring process. When KPIs, such as submission-to-hire, are met, surpassed, or missed entirely, our Job Distribution Algorithm re-prioritizes jobs to ensure that the right staffing vendors’ attention will be given to the right jobs at the right time.
Once you decide to use Prosperix, the only thing your hiring managers and HR professionals need to do is ask your staffing vendors to register at prosperix.com. Then they can begin publishing open job requisitions to our hiring marketplace.
Want to learn more about how we eliminate manual vendor and job requisition management?