Hiring in today’s unpredictable economy can be baffling. As economists warn of continued economic sluggishness, companies are looking for ways to operate effectively and shield themselves from the next economic convulsion.
So, what does that mean for companies and workers?
Robert Half estimates that 46% of US companies plan on expanding their workforce in the second half of 2022. Another 46% are looking to fill already-open positions, while only 8% anticipate hiring freezes or layoffs.
In other words, finding talent continues to remain a priority. For businesses looking to hire now, here are a few questions to reflect on:
- Is my talent-attraction strategy adequate?
- Am I finding the right people with the right expertise who can do the job effectively and will fit well within my company culture?
- Do I have the right tools and resources to facilitate my hiring strategy?
It’s still a candidate’s market, and bringing people on board is challenging. And with positions in technology, finance, and accounting, in demand right now, companies that need full-time employees, temporary staff, contingent workers, or independent contractors can greatly benefit from re-evaluating their hiring practices.
Improve staffing outcomes with a modern VMS
Next-gen vendor management systems offer hiring technology that quickly pulls the sharpest needles from the fast-growing haystacks of candidates. With the demand for skilled candidates rising, it is becoming essential for companies to have a system that incorporates high-level machine learning so they can effectively navigate ever-widening talent pools.
The right solution provides access to a wide range of staffing services and independent recruiters, even those beyond your company’s previously-vetted staffing suppliers, and parses your talent pool for matching profiles. It can also identify best-matched applicants who’ve been successful at your company and elsewhere in similar job roles. This initial winnowing of candidates using a proven algorithm allows your internal hiring team to engage in more personal interactions with the highest-level candidates, saving time by quickly filling positions with ideal candidates.
An innovative and modern VMS uses its algorithms to pinpoint people in various talent pools who possess the essential skills and qualities for your open positions. Beyond matching basic job requirements, it can simultaneously incorporate additional requirements, including measures of cognitive abilities, personality traits, skills assessments, even standards of integrity, emotional intelligence, and other measures that help identify and define an applicant’s soft skills.
Once your vendor management system has narrowed the field of applicants, it can provide a flowchart of processes that automate subsequent elements of your customized hiring workflow. This can include automated background checks, applicant tracking, and all levels of interview scheduling.
Facilitate easy onboarding using modern VMS technologies
Many VMS systems’ capabilities end when a candidate is hired, leaving HR departments to handle the onboarding. Truly modern VMS solutions automate many manual hiring-related tasks like completing tax forms, direct-deposit documentation and benefits-related paperwork, managing workspace and software setup, scheduling training sessions, and setting up email addresses.
Prosperix VMS Network does all this and more. Our built-in hiring marketplace with thousands of vetted staffing suppliers provides access to top-quality, diverse talent with various skill sets. Our VMS network incorporates high-level AI, machine learning, and algorithms that govern end-to-end contingent hiring, improving business outcomes and evolving your contingent programs to truly become best-in-class.
Schedule a demo with us today to learn more about the world’s only VMS network.