Our Executive Vice President of Product Development Ted Sergott was asked to share his industry expertise with Talent Economy magazine about the benefits of implementing a private contract talent network.
In the article titled, “The Power of Private Contract Talent Networks,” Ted emphasizes that as organizations continue to expand their use of contingent talent to supplement their full-time workforce, they are also seeking ways to optimize their contingent workforce programs to generate additional cost-savings. Historically, this is done through the process of supplier rate rationalization, improvements in workflow and cycle time, and engaging a Managed Service Provider (MSP) and Vendor Management System (VMS) to drive efficiencies in the program. While all of these measures generate cost-savings, particularly in first generation and early stage programs, more mature programs require the identification of other strategies like self-sourcing.
The concept of self-sourcing is not particularly new. However, companies have begun to embrace organizing self-sourced contingent resources into talent networks, automating the workflows to identify and procure talent, and leveraging software that optimizes this workflow. The primary drivers for this include the ability to save significantly on the margins imposed when sourcing through staffing companies, increase the quality of the talent being hired, and dramatically reduce the time required to identify talent for new requisitions.
To enable this process, more forward-looking companies have begun to create and use self-sourced talent networks. Click on the link to continue reading and to learn how to create your own Private Contract Talent Network in three steps.
If you or a member of your team would benefit from a further discussion or a demo of PRO’s VMS Wand, please contact a 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.