Buyers Meeting Point, a go-to destination for procurement professionals, asked PRO’s Senior Director of Product Marketing, to share best practices on how to build a private talent network.
The concept of self-sourcing is not particularly new to the contingent workforce management space. However, companies have begun to embrace organizing self-sourced contingent resources into talent networks, automating workflows to identify and procure the talent, and leveraging software that optimizes this workflow. The primary drivers for this include the opportunity associated with significantly reducing the margins imposed when sourcing through staffing companies; increasing the quality of the talent being hired and; dramatically reducing the time required to identify talent for new requisitions.
More forward-looking companies have begun to create and leverage self-sourced talent networks. The first step in the process is partnering with a VMS provider that possesses the functionality required to easily create, manage, and source from the company’s talent pool. It is also important that the talent pool remains private, so an organization’s best self-sourced talent is not hired by their competition as can be the case in a shared talent pool.
Populating the talent network is the second step towards generating savings, and there are several paths that can be leveraged to attract workers. More often than not, managers will invite proven individuals that they have worked with in the past. This means that the workers joining an organization’s private talent network are known, or ‘pre-vetted’.
Read the rest of the article for the remaining the steps to take in building your own private talent network.
If you or a member of your team would benefit from a further discussion on how PRO is helping companies self-source, please contact a PRO representative at 800.291.1099 or email at firstname.lastname@example.org.
Disclaimer: The content in this blog post is for informational purposes only and cannot be construed as specific legal advice or as a substitute for legal advice. The blog post reflects the opinion of PRO Unlimited and is not to be construed as legal solutions and positions. Contact an attorney for specific advice and guidance for specific issues or questions.