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As you probably know, the extended workforce is a hot topic, and study after study suggests that it will remain so in the near future. This is very good news if your organization has a plan to make itself more attractive to contingent talent. It's even better news if you're using the proper tools. But are you?
Managing the modern workforce is getting more complex every day. Successful contingent workforce management requires better processes, strategies and tools. Especially with the number of independent workers expected to grow by 40% by 2018.
Luckily, Beeline is here to help. In fact, we are already helping some of the leading organizations get the tools they need to gain a competitive edge. Imagine being able to find top tier talent in days, not weeks. Imagine being able to meet your most urgent sourcing requirements quickly, efficiently and securely. Does this sound too good to be true? Well, it isn't. As a matter of fact, it is relatively easy to do. How? By self-sourcing.
Acquiring Skilled Talent is Becoming Harder for Companies
One reason contingent workforce professionals keep hearing about the “war for talent” is that moving forward, talent will be the key differentiator. Unfortunately, attracting that talent is getting more difficult. Employers are increasingly forced to look for workers with the necessary skills in shrinking talent pools. And because systems-based solutions don't necessarily account for performance, it is all too easy to source unqualified candidates or candidates who are a poor fit for the organization.
Because of this skills shortage, every company's talent strategy now includes the extended workforce. Many employers are struggling with the challenge.
- Industryweek.com observes, “A recent report called “The Skills Gap in U.S. Manufacturing 2015 and Beyond” projects that, “Over the next decade, nearly three and a half million manufacturing jobs will likely need to be filled, and the skills gap is expected to result in 2 million of those jobs going unfilled.”
- ManpowerGroup's 2015 Talent Shortage Survey said, “The number of global employers reporting talent shortages in 2015 peaks at a seven-year high of 38%.” The survey also revealed that 54% of employers say talent shortages affect their ability to serve client needs and “more than one in five global employers is still not pursuing strategies to tackle talent shortages.”
As you can see, engaging highly-skilled workers is a challenge for many organizations. At the same time, finding these workers is a critical business objective for most companies. Experience has shown us that there is a better way to source top talent.
Build a Preferred Talent Pool you can be Proud of
So, how can you engage the extended workforce to meet your talent needs? One way is by channeling your talent into a preferred talent pool.
While most companies have sources of preferred talent scattered throughout their organizations, very few have visibility into the cost, compliance and performance of that talent.
Once you create your preferred talent pool, you can instantly find and engage trusted talent and follow all of your compliance processes. Setting up a preferred talent pool can produce substantial rewards and it is relatively easy to do. If you are wondering how establishing your own talent pool and sourcing with your VMS can benefit your organization, there are a few ways.
- Expand access to quality talent
- Lower the cost of acquiring talent by 10 to 35%
- Attract talent with higher pay rates and lower bill rates
- Reduce time to fill by 50% or more
VMS users can save millions of dollars and mitigate risk by sourcing talent directly and not through a standard staffing supplier.
You may be wondering where you will find skilled workers to build your preferred talent pool. Here are a few suggestions:
- Retirees: Former full-time employees who have retired from the company may be interested in working occasionally or part time.
- Alumni: Former full- and part-time employees who leave with a favorable status because of a lifestyle change, new job or change in location (or downsizing or other non-performance-related factors) can be a great asset to your preferred talent pool.
- Former Interns: Former interns already have the training, experience and knowledge of the company. They also want more résumé-building experience.
- Contractors: As alluded to earlier, most organizations have talented contractors they work with already. Adding them to your preferred talent pool allows you to engage them and utilize the systems and processes you have in place to protect your company.
- Silver and Bronze Medalists: Every organization has “silver medalists” and “bronze medalists.” These are full- or part-time employee applicants who were not the first choice for a position, but came in second or third during the hiring process. Although they were not the first choice for a specific position, they may have qualities that would make them a great contract resource.
- Referrals: Employee, contractor and partner referrals are often a very reliable source of great talent. Don't ignore them while building your talent pool.
If you use OnForce Sourcing with your VMS, we can help make establishing, growing and using your preferred talent pool very easy.
Is This the World's First Self-Sourcing Solution for Enterprise Companies?
Yes. And using OnForce Sourcing can help VMS users mitigate risk and save time by self-sourcing. Plus, sourcing skilled talent directly through your VMS could save you millions.
Now, organizations have been self-sourcing manually for years. And most companies already have sources of preferred talent. However, manual self-sourcing often creates more problems than it solves.
You need something that is automated and scalable. OnForce Sourcing lets you search for, negotiate with and engage directly with talent through your VMS, without having to go through a staffing supplier. It's also the world's first VMS plugin.
VMS users who manage contingent workforce programs can mitigate risk, save time and reduce costs by self-sourcing. OnForce Sourcing can help.
Take the next step to learn more about OnForce Sourcing and building your own talent pool.