Is your organization feeling the effects of recent market fluctuations? It might be the right moment to explore strategies for reducing costs, enhancing efficiencies, and gaining better control over your contingent workforce management. If these considerations are not yet on your agenda, it could be time to switch to a VMS provider equipped with the technology and capabilities to support your evolving business requirements.
Regardless of your business size, adapting to evolving market demands is an essential strategic focus. Cutting costs, enhancing efficiencies, and effectively managing your contingent workforce become increasingly vital. Here are some key ways to stay in control during uncertain market conditions:
If you don’t focus on implementing an effective contingent workforce management program as the number of contract workers you utilize increases, your business could soon start suffering from issues such as:
Let's look at the top 3 ways to stay in control and gain visibility of your contract workers; and how implementing a Vendor Management System (VMS) can be essential for achieving clear visibility and control over your contingent workforce program.
As your contingent workforce grows, so does the amount of data that you need to store to manage it effectively. Using spreadsheets, emails and Share Point-like websites to store that information is an unsustainable method as you grow.
Storing data manually is not only incredibly time-consuming, it also leads to fragmented processes that reduce your visibility into your contingent workforce program. Hiring managers across your organization will save data on their own spreadsheets, and you’ll quickly lose visibility into the program. The result will be hiring managers engaging staffing agencies on their own terms and at their own price, and a complete lack of visibility into how your program (and your vendors) are performing.
How a VMS Can Help: To gain complete visibility into your contingent workforce program and to ensure all hiring managers are following standardized processes and the overall contingent strategy, a VMS is an easy way to store all contingent information in one centralized database.
As your company grows, so does the amount of time that your HR and procurement teams spend on managing contract workers. Yet, since these teams are likely balancing multiple tasks, there’s a chance they’ll cut corners and give less attention to some administration over higher value tasks.
But when that happens contingent workforce data isn’t stored correctly. That results in inaccurate data that leads to poor decision making, the loss of control of your entire contingent strategy and increased risks that seep into the program.
How a VMS Can Help: A vendor management system automates processes such as sourcing contingent workers, onboarding, time entry and approval, payments and so much more. Your HR and procurement teams can save a huge number of hours - allowing them to both effectively manage the contingent workforce and spend more time on the high value tasks that really help your business grow.
As your business grows and scales up, you’ll need to find the right workers that help you achieve your goals. You can’t do that unless the staffing agencies you partner with are helping your business to meet its workforce requirements.
To make sure they are fulfilling those targets, it’s important to measure and analyze vendor performance. A vendor management can help you do just that.
How a VMS Can Help: A VMS will give you key insights into metrics such as time-to-fill, time-to-submit, turnover and much more. The more metrics you have around staffing agency performance, the better you develop your contingent workforce strategy in the future to ensure your vendors are helping you meet your targets.
In today’s rapidly shifting market, having clear control over your contingent workforce isn’t a luxury - it’s a necessity. Disconnected systems, manual processes, and rogue spend all lead to higher costs and increased risks that most organizations simply can’t afford during uncertain times.
A Vendor Management System (VMS) brings structure, visibility, and control to your contingent workforce program. By centralizing your strategy, automating manual tasks, and unlocking real-time insights, a VMS empowers your HR and procurement teams to focus on what truly matters- driving business performance and staying agile in a volatile market.
If your organization is struggling to keep up with growing workforce complexity, now is the time to evaluate how a modern VMS solution can help you regain control, reduce costs, and scale with confidence.
Learn more about the Benefits of a VMS and what to look for when choosing the best VMS for your organization. Download our Free VMS Buyer's Guide here:
Conexis VMS is purpose-built for organizations seeking to manage their contingent labor spend effectively. Here’s why we're the right choice:
Conexis is an award-winning Vendor Management System built for organizations that want the power of enterprise software without the complexity or cost.
Leveraging the latest technology, Conexis delivers the expertise, reliability and security of enterprise systems, while offering the flexibility, user friendliness and tailored, personal service you require. Learn more about our Company and why organizations Choose Conexis VMS.
Whether you are looking to Switch your VMS, or just Getting Started, we are here to help. Contact Us for a Free No-Obligation Consultation, See how Easy Conexis is to use by taking a quick 2 minute Self-Guided Online Demo, or Book a Personal Demo Today!
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