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In today’s digital age, companies have access to a pool of more than forty-one million independent professionals. With unprecedented growth in this labor market, 61% of organizations say they expect to hire more contingent workers in the next three years.

More and more organizations are looking to solve the big question – “What if we can acquire contractors directly?” And the industry is already looking at a significant shift and  Direct Sourcing as a solution.

Direct Sourcing is not a new concept; in fact, many organizations have contingent workforce programs that leverage the benefits of sourcing contractors from their curated pool of talent.

But for organizations looking to explore direct sourcing, it’s essential to understand the benefits a program like this brings to the table before they decide to implement it.

Benefits of Direct Sourcing:

1. Potential cost-saving:

Enterprises can post opportunities to source and select contingent workers that fit their needs using direct sourcing tools. Willhire, for example, uses a matching algorithm to pair qualified talent—already in your network and from the platform—with available opportunities, reducing the time managers have to spend reviewing candidates.

This is cheaper and faster than a traditional staffing agency. Direct sourcing reduces the cost of giving contingent workers what they need to start their professional engagement in one place to use internal resources better and minimize the risk of compliance.

2.  Employer branding:

Along with your existing employer branding program with direct sourcing, you can tap into the contingent workers market.  A good employer branding exercise can increase the number of quality applicants, reduce the cost per recruitment, and help create a differentiated proposition from competitors.

With your direct sourcing tool, you can now extend your employer branding program to contingent workers. Enabling excellent candidate experience to turn candidates into business advocates – ensuring top talent keen to work with the organization.

3. Curating & nurturing talent pool:

A curated pool of contingent talent makes it easier to find and engage when required. Enabling organizations with flexibility and allowing the recruiter to function in-house. Engaging with this pool can increase output and higher satisfaction. Overall reduce the time to fill open positions.

Many organizations face challenges while hiring contingent workers with a niche skillset occasionally. But having a curated talent pool of these contract talent makes it much easier to find and re-engage as and when services are needed.

4. Talent diversity:

Diversity in today’s world is not just jargon or compliance mandate but also a proven change agent to include people from diverse backgrounds for business growth.

D&I technology in a direct sourcing program will help an organization leverage a diverse contingent workforce’s true potential. Features like talent diversity analytics, measuring diversity stats, diverse talent acquisition channels, etc., are readily available on direct sourcing platforms to step-up talent diversity.

5. More control over the hiring process

A staffing agency securing top talent might contract qualified people’s services but could be way out of budget, not an ideal organizational fit.

But with direct sourcing keeping it in-house, organizations have more control over the recruitment budget, enabling better planning and budget optimization.

6. Increased manager and talent satisfaction

Direct sourcing reduces the time managers spend reviewing candidates, creating a simplified, easy-to-follow process.

Faster hiring also allows organizations to deliver a better candidate experience. A private talent pool available to an organization will enable them to attract and repeatedly engage with contingent workers, allowing them to build deeper relationships and develop trust. In turn, candidates also let their peers know what a fantastic employer they have worked for.

To Summarize:

To engage and hire contingent workers, Direct Sourcing can be an excellent strategy for your organization. It can deal with fluctuations in workforce needs during times of uncertainty. Plus giving you the advantage of cost-saving leveraging the talent pool that’s readily available.

Technology plays a massive role in how talent is attracted, screened, shortlisted, and managed. Research and building a robust strategy is the key to reap the benefits of direct sourcing.

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With the increase in the number of participants in the independent workforce, companies realize they now have access to better talent than ever before. Enterprises with extensive requirements for contingent workforce deal with a massive cost from staffing agencies, quality issues, and lack of control in their day to day operations now understand direct sourcing is here to stay.

Enterprises now understand the advantages of direct sourcing but are challenged  “where to start their direct sourcing journey.” While there are multiple models for direct sourcing. Enterprises need to answer several questions to choose an ideal model that fits needs based on the current program and maturity levels. Before enterprises get to direct sourcing, it is essential to ask a few questions to access your requirement:

1. Is your program ready for direct sourcing?

Based on the enterprise’s current hiring need and structure, it is crucial to understand direct sourcing is not always the best solution in every situation. It’s essential to assess the organization’s readiness for a direct sourcing program. Few ways to evaluate your organizational readiness are:

The business already has workforce planning and forecasting in order.

Organization plan to recruit a large pool of contingent workforce

The current model is not serving as a cost advantage.

Need control over the process to gain visibility of dollars spent

Looking to leverage your employer brand to hire contingent workers

Implementation of the whole program or only a particular job category

Current status of contingent workforce program – If currently an MSP driven or self-managed program:

What vendors and partners are more suitable for the program to make this initiative successful?

Who would curate the talent,

How to curate the talent?

Is there a need to coordinate with the HR Team? Why? And how?

2. How can the organization benefit from direct sourcing?

Direct sourcing can provide many cost-savings benefits, but the opposite can also be true if employers don’t have the proper resources or a formal program to manage the process.

Tools like Willhire, an end-to-end direct sourcing technology platform, help in talent attraction, curation, and managing candidates to put the direct souring program on autopilot.

When managed properly, the organization reap the benefits of direct sourcing:

Potential cost saving

Employer branding

Curating and nurturing talent

Talent diversity

More control over the hiring process

Increased manager and talent satisfaction

After accessing these two questions, organizations should look to start their direct sourcing journey.

Here’s how to launch an effective direct sourcing program:

Step One: Set an organizational plan

Any great program needs to have a clear and achievable goal, which needs to be well rounded by people, process, and technology to achieve success. Identifying the right model and all the relevant attributes get you ready to launch. Identifying your MVP (Minimal Viable Product) to establish and measure is mission-critical?

Few important factors to consider:

Internal Buy-in

Employer Branding Strategy

Talent Attraction Modelling

Talent Pool Approach

Talent Curation Process & Owners

Talent Engagement Models

Onboarding & EOR/Payroll Services

Accommodating for the cost of acquisition

Step Two: Measuring the experience design – setting KPI’s

Building a community of engaged contingent workers and future employees is not easy – it requires intentional thinking from the talent’s perspective about participation’s experience and benefits. The real value of the talent pool is as good as curation. It is implementing a curation model that applies to the program with modern-day self-assessment tools and automation.

KPI’s, which will track program success:

Recruitment Budget Spend

Spend by Source

Total Applicants by Source

Organic VS. Paid

Cost per Applicant

Time to Hire

Total Members in Talent Pool (Growth by Week)

Total Referrals & Cost of Referral

Jobs Filled through Direct Sourcing Vs. Supplier Sourced

Supplier Bill Rate Vs. Direct Sourcing Bill Rate Comparison

Step Three: Optimize program architecture.

In tandem with the measurement process, every program needs to keep optimizing its fundamental structure to eliminate unnecessary steps to ensure a better talent experience and improve the key metrics.

To prepare for scale, organizations need to ensure the right mix of tech and process is in place. An essential step in this direction is driving sourcing as a marketing play setup with the right engagement trigger driven by MI/AL.

Leveraging this organization can create:

Build faster curation model

Create niche talent traffic generators

Increasing applicant conversion rate

Improve time to hire rate

Step Four: Scaling your direct sourcing program

For every organization, the end goal of implementing a direct sourcing program is to get the benefits of lower supplier cost and dependencies, hiring quality candidates, and reducing time to hire. But achieving these and moving to a 100% direct sourcing model being the target – it’s essential to repeat steps two and three.

A direct sourcing tool is excellent for managing everything on autopilot mode. Simultaneously, the organization can focus on growing the talent pool to scale the program at large.

To Summarize:

It’s essential to have a rock-solid foundation to get the real value of a direct sourcing program. These steps will help any organization looking to start direct sourcing and focus on the primary indicators that they need to figure out before deciding to launch a program. These may vary on the organization’s maturity, size, and complexity.

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WillHire https://www.willhire.co/blog/direct-sourcing-in-contingent-staffing/

In today’s digital age, the global talent market is becoming increasingly dynamic and competitive with 90% of the talent finding their jobs online. A leading industry statistic says that the preferred mode of job search by 65% of this talent, is via a mobile device.

With mobile devices, while the world is virtually at one’s fingertips, smartphones are no longer just a means of communication — they are also THE means of employment search.

It is common knowledge that organizations hire their full-time employees via their Human Resources or Talent acquisition teams which are fully equipped and matured with tools and processes specific to talent sourcing. However, for several years now the hiring of contractors has seen a different approach.

This approach taken by the contingent staffing industry, has for years, been solving a big question — “What if we can acquire contractors directly? Can we really do that?”

This is where Direct Sourcing comes in.

Before we delve deeper into what is direct sourcing, let’s talk about why it is required.

Talent Acquisition has changed its course over the years and more so, this year. While the pandemic conditions have made available a huge pool of talented candidates, it has established what staffing agencies always believed. Companies cannot wait till the last moment to put out job descriptions and job openings and expect the perfect candidate to wondrously appear — proven in the past few months.

Companies need a more strategic approach to hiring, particularly for their contingent or temporary workforce — enters Direct Sourcing.

What is Direct Sourcing in Staffing?

Direct Sourcing is a method of sourcing contract workforce by leveraging the modern-day talent acquisition processes and techniques. Commonly used within the indirect procurement function by the procurement department, typically responsible for acquiring indirect goods and services. In this case, it includes acquiring third party labor or non-employee services through Staff Augmentation. Usually, large enterprises use one of the many names for these programs, namely, contingent labor programs also known as contingent workforce programs or non-employee or 3rd party labor programs, or Flex or On-demand talent programs.

In the staffing industry, it is used as an alternative sourcing approach in addition to traditional staffing suppliers for sourcing talent. While this is not a new process in the talent acquisition industry, contingent programs are a bit backlogged as compared to the HR and HRTech industry which have witnessed major modernization in the past two decades.

Every enterprise has a talent acquisition team that relies on an Applicant Tracking System (ATS) or other HRTech platforms to attract and engage talent directly for direct hire/full-time roles.

Historically, this contract talent or temp labor sourcing was acquired/ managed through staffing agencies that are managed by a program management team internally or outsourced externally to a managed service provider (MSP).

[willhiretemp]

Direct Sourcing

In today’s digital age, the global talent market is becoming increasingly dynamic and competitive with 90% of the talent finding their jobs online. A leading industry statistic says that the preferred mode of job search by 65% of this talent, is via a mobile device.

With mobile devices, while the world is virtually at one’s fingertips, smartphones are no longer just a means of communication — they are also THE means of employment search.

It is common knowledge that organizations hire their full-time employees via their Human Resources or Talent acquisition teams which are fully equipped and matured with tools and processes specific to talent sourcing. However, for several years now the hiring of contractors has seen a different approach.

This approach taken by the contingent staffing industry, has for years, been solving a big question – “What if we can acquire contractors directly? Can we really do that?”

This is where Direct Sourcing comes in.

Before we delve deeper into what is direct sourcing, let’s talk about why it is required.

Talent Acquisition has changed its course over the years and more so, this year. While the pandemic conditions have made available a huge pool of talented candidates, it has established what staffing agencies always believed. Companies cannot wait till the last moment to put out job descriptions and job openings and expect the perfect candidate to wondrously appear – proven in the past few months.

Companies need a more strategic approach to hiring, particularly for their contingent or temporary workforce – enters Direct Sourcing.

What is Direct Sourcing in Staffing?

Direct Sourcing is a method of sourcing contract workforce by leveraging the modern-day talent acquisition processes and techniques. Commonly used within the indirect procurement function by the procurement department, typically responsible for acquiring indirect goods and services. In this case, it includes acquiring third party labor or non-employee services through Staff Augmentation. Usually, large enterprises use one of the many names for these programs, namely, contingent labor programs also known as contingent workforce programs or non-employee or 3rd party labor programs, or Flex or On-demand talent programs.

In the staffing industry, it is used as an alternative sourcing approach in addition to traditional staffing suppliers for sourcing talent. While this is not a new process in the talent acquisition industry, contingent programs are a bit backlogged as compared to the HR and HRTech industry which have witnessed major modernization in the past two decades.

Every enterprise has a talent acquisition team that relies on an Applicant Tracking System (ATS) or other HRTech platforms to attract and engage talent directly for direct hire/full-time roles.

Historically, this contract talent or temp labor sourcing was acquired/ managed through staffing agencies that are managed by a program management team internally or outsourced externally to a managed service provider (MSP).

How We, At WillHire, Define Direct Sourcing?

A common analogy we use at WillHire is – “Direct Sourcing is what Netflix is in the entertainment industry”. No contingent program manager likes to be a Blockbuster story while not attempting to modernize their program. Direct Sourcing is a result of applying Design Thinking & Digital transformation to a contingent program.

With these being unprecedented times, Direct Sourcing has become the new normal and accelerated its need multifold for enterprises to build better predictability and bring cost savings into the organization. It gives an ability for enterprises to source temporary labor or contract talent directly thereby reducing the dependency on staffing suppliers.

Clearing Assumptions and Busting Myths – What Does Direct Sourcing Entail?

There are too many assumptions, confusions, and myths around direct sourcing.

Let’s look at the key takeaways for enterprises that clarify what direct sourcing could do for them:

Potential cost-saving: Direct Sourcing has proven to be significantly cheaper than traditional staffing agency markups

Leveraging Employer Branding: To create a great candidate experience and attract good quality talent

Building and Nurturing Private Talent Pools: To fulfill the current and future needs of any organization

Reducing Time to Fill: By using a pre-vetted private talent pool – ready to hire

Talent Diversity: Measuring and managing talent diversity within the contingent labor pool

Now let’s talk about what direct sourcing is not:

It is not a replacement for your existing MSP

It is not an ‘All or Nothing’ method.

It does not fully replace all your traditional staffing suppliers, but rather gives you a way to increase the bar on talent sourcing

It is not a replacement for your VMS (Vendor Management Systems). However, direct sourcing platforms do act as an extension to the existing VMS.

It is not a total talent management (TTM) system or method. It is, however, heavily focused on contingent labor and builds a pathway for TTM.

It is not a co-employment risk, as it aligns into the program similar to existing suppliers.

It is not all about cost savings

To Summarize:

Direct Sourcing is a model to directly attract and engage the contract workforce by leveraging the modern-day talent acquisition techniques which include leveraging your brand, repurposing your traffic from the company’s website and your career pages, generating job seekers from job boards or all possible online channels and generating referrals for the temp roles similar to an employee referral program, and building a private talent pool which you can tap into as and when you need.

There are multiple models within direct sourcing on who and how talent is attracted, screened, or shortlisted and managed. In the entire process, technology plays a major role by ensuring efficiency and not acting as a disruptor in existing programs.

About WillHire

WillHire is an end-to-end direct sourcing technology platform that integrates with the majority of industry Vendor Management Systems. We help large enterprises implement and operate direct sourcing including talent attraction, curation, and managing candidates as an employer of record and payroll provider.

Have questions on direct sourcing and how it is more beneficial than hiring a staffing agency?

Schedule a call with our direct sourcing champion Praneeth Patlola

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Attract, Curate & Engage your contingent workforce by leveraging your employer brand with direct sourcing building a pathway to total talent management.

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[Fireside Chat Highlights] Innovating Workforce Strategies in the ‘Never Normal’

We just wrapped up our online fireside chat “Innovating Contingent Workforce Strategies in the new never normal” with Molly Spatara, Global VP of Brand at SAP Procurement Solutions and Paul Petersen, Head of Workforce Solutions at Siemens Healthineers.

The event was our way of sharing new ideas and strategies to help organizations as they assess their workforce strategies.

If you missed it and are looking for innovative approaches to your contingent workforce, don’t despair, it’s recorded and available here and it’s a quick 30 minute session packed with interesting insights.

We learned from Molly that SAP customers are focused on business resilience and adjusting strategies on the fly and those that are innovating at speed are those that are coming out on top.

Paul shared with the audience in depth details into how the Siemens Healthineers team continually reimagines their contingent workforce program and it’s a journey with no end in sight.

Siemens Healthineers have faced considerable challenges during this unprecedented time and they’ve faced those challenges through innovation to deliver what the Siemens business needs, their customers need, what their contingent workers need, and most importantly, the needs of the patients.

By leveraging the WillHire direct sourcing platform integrated with SAP Fieldglass they’ve been able to find and stay engaged with the highly skilled workers they need and have been able to deploy and redeploy contingent workers rapidly.

The Siemens results to date have exceeded their expectations,

Reducing time to fill from weeks to hours

Their worker net promoter score is over 9 (industry average is around 7.6)

Paul concluded that the strategies he has deployed and continues to deploy are easily deployed at other organizations, regardless of the skills and expertise needed.

I’m energized on the topic of innovation and helping organizations find their success, especially during challenging times.  We are seeing innovation everywhere we look in every industry.  We are seeing individual contributors and leaders alike bring forth new innovation in their organizations.  Innovation at this time is critical because we know agile businesses that innovate at speed have the advantage over their competition.

Molly, Paul, and I all agreed that we can’t stop now.  Innovation never stops and as a spoiler alert…we’ll be back soon with more sessions on innovative contingent workforce strategies.

Watch Replay of the Fireside Chat: Innovating Workforce Strategies to Navigate the Never Normal

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Does Your Diversity & Inclusion Strategy Include Contingent Workforce?

#TotalTalentDiversity

Diversity, Inclusion & Equity has become more important than ever for organizations where they stand for social justice and equality. Workplace cultures are more complex due to the increased interconnectivity, thanks to the impetus of globalization.

Today’s workplace is a melting pot where people from several communities with different identities and backgrounds interact and make crucial contributions to accomplish business objectives.

Diversity & Innovation

As research shows that a highly diverse team has a direct relationship with increased innovation and brings in beneficial results to an organization. The following are some of the important research findings that encourage organizations to make a big push toward their diversity initiatives.  

According to a BCG Study, management team with members from diverse backgrounds generate 19% more revenue due to innovation

Highly gender-diverse and ethnically-diverse organizations tend to perform 15% better and generate 35% more revenue, according to a McKinsey Report.

Diversity now and then

The older way of looking at diversity is to ensure the compliance and legal requirements to provide equal opportunities to employees from diverse backgrounds without any bias. Today, diversity is not just about meeting the compliance mandate but to bring a systemic change within the organization to include more people from diverse backgrounds for business advantages.

The recent events like MeToo and Black Lives Matter have become flashpoints that have changed the outlook of diversity in an organizational context.

Also, diversity in context has gone much beyond race and religion to include people with different race, color, ethnicity, language, nationality, sexual orientation, religion, gender, gender, socio-economic status, age and physical and mental ability. The modern day workforce diversity hinges on the idea that everyone is different and everyone is unique.

Businesses that operate in multiple geographic locations tend to build a workforce that resembles a pluralistic society in which they operate to promote a socially just cause.

Diversity in the workplace is not anymore the responsibility of a person or a team but has transcended to become an organizational culture with greater diversity initiatives led by the top brass leadership.

D&I technology for Contingent Workforce

When the economy recovers after the pandemic, businesses will turn their focus toward the contract labor due to the flexibility and cost saving opportunities they provide.

Currently, 25% to 30% of the US workforce is contingent and more than 80% of the large corporations plan to strengthen their contract labor substantially in the next few years.

As a cost saving measure, 32% of the organizations are replacing their full time labor with contract workers

Contingent workforce programs led by procurement teams do not have the functional expertise to incorporate diversity & inclusion initiatives into their workforce programs. Instead, businesses formulate a supplier diversity program to include staffing agencies that are Minority Business Enterprises (MBE) to solved the purpose.

In reality, this approach did not accomplish the purpose of having a diverse workforce that innovate together and achieve better business outcomes.

While sweeping changes are made in the Diversity & Inclusion front, organizations should realize the importance of including the temp labor workforce in their D&I initiatives.

D&I in Direct Sourcing

A very effective approach to incorporating diversity & inclusion initiatives into your contingent workforce program is to implement D&I technology in your direct sourcing initiatives.

A direct sourcing initiative will provide all necessary features and functions that a D&I technology has to impart into building a diverse workforce.

The following features are readily available in a direct sourcing mechanism which can be leveraged to ensure a strong Diversity & Initiative framework is built within your temp labor program.  

Talent Diversity analytics

Diverse talent acquisition channels

Measuring diversity stats, engaging and retaining diverse talent

Improve diversity of the talent pool

A direct sourcing strategy can not only help you access a diverse pool of talent but also helps you to train,manage and retain them for longer periods and provide them rewarding opportunities assisting them in their career growth.

Diversity & Inclusion initiatives are not just finding diverse talent and making them a part of your workforce but also giving them the right opportunities to excel and innovate at the workplace that translates into business success.

Interested in making your contingent workforce more diverse and inclusive? Read more insights

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Webinar Take Away: Time to Look Beyond Traditional Sourcing Through VMS

The Future of Sourcing: Combining Direct Sourcing with Your VMS Strategy

History has taught us that when the economy climbs back after a downturn, companies look toward the contingent labor landscape to get work done and optimize labor spend. The share of contingent labor in an organization’s workforce went up north after the culmination of the Great Recession in 2010.

More than 25% of the 1.17 million private sector jobs added in 2010 after the Great Recession were temp jobs.

Yet again, in 2020, history repeats itself. But this time it is a forced temporary shutdown of the economy due to the pandemic, unlike 2008. Once again employers will follow suit to engage contingent workers as the economy starts to rebound.

In a highly competitive labor market, particularly when the role of contingent labor is critical more than ever in the past, employers had devised strategies to attract and engage contract workers before Covid-19.

Post-pandemic, the scenario will remain even more competitive and employers should be prepared with efficient strategies to onboard the furloughed or laid-off contract workers.

Because, employers tend to lay off their contract workers to protect their workforce from bearing the brunt of an economic crisis.

To keep the furloughed employees and laid-off contract workers engaged, it is high time that employers look beyond traditional sourcing models using VMS and actively weigh-in the opportunities to deploy technology enabled strategies, like direct sourcing.

In the recent webinar ‘The Future of Sourcing: Combining Direct Sourcing with Your VMS Strategy’ Taylor Ramchandani from VectorVMS and Praneeth Patlola from WillHire presented the case of integrating direct sourcing with the VMS strategy as the future of sourcing in the post-pandemic world of work.

WillHire and VectorVMS have partnered to deliver direct sourcing solutions integrated within the VMS with zero disruption to existing programs and at no additional cost.

They discuss how direct sourcing, as an additional layer within the VMS tool, augments the sourcing exercise and helps employers create a vetted talent pool of contract workers, improve the quality of hire while saving cost, without any disruption to the existing program.

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[Podcast] Direct sourcing and the Growing Role of Technology in Contingent Workforce Programs

Christopher Dwyer, VP of Research at Ardent Partners joins WillHire CEO Praneeth Patlola in one of the episodes of Contingent Workforce Weekly’s podcast to discuss the evolution of contingent workforce and its technology-led transformation in the form of direct sourcing.

As businesses are reopening in phases after the temporary shutdown due to the pandemic, non-employee workforce hiring (freelancers, contract workers) is expected to ramp up and the role of technology in the contingent workforce landscape will be crucial for organization’s success in the post pandemic world.

Both Chris and Praneeth share a common interest in understanding the evolution of contingent workforce and exchange perspectives on nurture based strategies to engage candidates in talent pool.

Talent pool development and curation in direct sourcing are going to be the two major focal areas for organizations in 2020 when businesses focus on increasing the share of contingent workers in their workforce.

In this conversation, Chris and Praneeth discuss how the pandemic is expediting the idea and execution of managing a digital workforce, which was gradually emerging as the the future of work before the Covid-19 outbreak and why direct sourcing is becoming a hot topic for organizations to create, curate and manage a talent pool.

Listen to the podcast below to know more on direct sourcing and how it reinvents contingent labor management with HR tech resulting in cost and program optimization.

Want to schedule a meeting with Praneeth? Access his calendar and choose a time that works for you!

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Interview with Marc Husain and Praneeth about recent partnership on Direct Sourcing

VectorVMS recently announced a new partnership with a leading direct sourcing company, WillHire. This partnership comes from the desire of both organizations to help companies achieve recruiting objectives in the contingent workforce.

We caught up with Marc Husain (Managing Director at VectorVMS) and Praneeth Patlola (CEO at WillHire) to find out what they have to say about the new partnership and the push for direct sourcing.

Q: Marc, what has led VectorVMS to a partnership with a direct sourcing firm, and why now?

We feel like direct sourcing is the logical next step for our clients looking to diversify their sourcing strategies. While a traditional sourcing model may work for our clients today, we want to introduce direct sourcing as a method to expand their available talent.

We feel as though the competition for talent is going to increase significantly as we rebuild from COVID-19. Organizations are going to need to ‘think outside the box’ to get the best talent and this is a great opportunity to do so.

Q: Praneeth, what are the main benefits you feel VMS clients see when implementing a direct sourcing strategy?

Direct sourcing enables VMS clients to bring the modern-day true talent acquisition function into the contingent labor program. This builds an efficient alternate sourcing channel and reduces 100% dependency on third-party agencies.

A few key takeaways for the client include:

    – Reducing contingent spend by optimizing bill rates

    – Reducing time to hire

    – Improving contractor quality with customized self-assessment and    modern-day AI capabilities

    – Leveraging employer brand to attract talent and deliver the best candidate experience

    – Building and controlling diversified talent sourcing channels by job category

    – How to re-engage furloughed candidates, as well as retired and alumni workforce.

Related reading:

The State of Direct Sourcing in 2020

Q: Praneeth, at a high level, how do the two systems work together?

Our goal has always been to implement direct sourcing to customers with zero disruption to the existing process as a ‘plug and play’. As soon as new job requisitions are released in the VMS, the WillHire platform gets them to showcase on the employer-branded job listing site.

These are then sent out to relevant channels to start generating candidate traction. Once the applicants are curated, the top qualified candidate is submitted to the VMS.

The existing process for clients in the VMS for identifying the worker remains the same, where they take actions and interview candidates similar to any supplier-submitted candidate.

Once the candidates are identified to hire and the work orders generated in the VMS, the WillHire system ‘accepts’ them to further send them out to the identified payroll provider to onboard.

Q: Marc, there are a variety of players in the direct sourcing arena. What made you pick WillHire as a partner?

At VectorVMS, we felt like WillHire is a very exciting organization and shares the same energy and passion we have to provide innovative solutions to our clients. Its functionality is clean and easy to use.

This is important because we want a seamless experience for our users so that there’s higher adoption of the new process. WillHire has a great methodology in the tool and a true zest for its clients and the market that made the company an obvious choice.

Q: What would both of you say to organizations looking to consider direct sourcing?

Praneeth: Direct sourcing is no longer simply an option, but is one of the must-have strategies to ensure contingent programs stay relevant to the way talent finds work.

One of the key benefits that direct sourcing brings is the ability to engage talent with the best experience, without treating them as a commodity. Today, implementing direct sourcing is a fairly simple initiative to get up and running, taking anywhere between 24 hours to less than a week.

Marc: Obviously, times have changed and so has the way we need to look at talent. While the traditional model is a great first step, organizations are going to need to be more strategic in how they procure top talent as the war on talent returns.

We see direct sourcing as a great way to engage with talent differently, which is especially important as workers are changing how they engage with work.

Want to implement Plug and Play Direct Sourcing?

Schedule A Demo Now.

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VectorVMS Partners With WillHire for Contingent Workforce Efficiencies

VectorVMS, a leading vendor management solution (VMS) that helps organizations manage their contingent labor spend, is pleased to announce its new partnership with WillHire, a direct sourcing organization driving change in the way organizations source talent. This partnership brings decades of shared expertise together to offer a better way to recruit and manage top contingent talent.

“The contingent workforce is continually changing and it is imperative to keep up with the times,” said Marc Husain, Managing Director at VectorVMS. “The partnership between WillHire and VectorVMS will allow us to expand the way our clients obtain talent and increase the quality of their programs overall.”

Added Husain, “This partnership comes at a critical time when organizations are going to need all the help they can get to attract top talent. To achieve optimal recruiting, the recommendation is to implement a blended strategy of a vendor management system and a direct sourcing system.” It is predicted that the use of contingent labor will skyrocket as the economy rebuilds post-COVID-19, making a differentiated sourcing strategy imperative. Even before the pandemic occurred 32% of organizations were looking to replace full-time labor with contingent labor.

With this addition to the VectorVMS technology ecosystem, clients and partners will be able to source talent through new means, allowing them to increase their candidate quality. “By going outside of the traditional staffing model and allowing candidates to apply to positions directly, they will see more diversified talent and will be able to reach a broader set of applicants,” said Taylor Ramchandani, VectorVMS Product Manager. “With most workers already looking for jobs on job boards and company websites, it makes sense to add contract positions here as well.”

“Organizations of all sizes are rethinking their contingent worker talent sourcing strategy, where direct sourcing plays a key role bringing modern-day talent acquisition techniques into the program, without disrupting existing models,” said Praneeth Patlola, CEO at WillHire. “We are super excited about this partnership which enables VectorVMS clients to seamlessly implement direct sourcing and private talent pools to optimize spend and improve critical KPIs of their contingent workforce programs.”

About VectorVMS

VectorVMS, a former division of PeopleFluent, delivers software and services to help businesses optimize their contingent workforce programs. Drawing on 20 years of experience, we help clients and MSP partners control costs, maintain compliance, and drive quality and efficiency—throughout the contingent labor lifecycle. VectorVMS offers flexible delivery models, enabling clients to manage strategic sourcing in-house, through an MSP, or with support from our experienced program managers.

A part of Learning Technologies Group plc (LTG), VectorVMS also powers a total talent ecosystem that gives clients a holistic view of their workforce.

For more, visit vectorvms.com.

About WillHire

WillHire is a direct sourcing and total pool solution enabling enterprises to attract, curate, and engage contingent talent by leveraging their employer brand. WillHire’s technology solution seamlessly integrates with industry-leading VMS platforms, acting as an extension enabling enterprises to build and grow their private talent pool with a holistic approach by launching customized talent referral programs relevant to contingent labor, generating talent traffic from 100+ online channels, screening talent with a combination of AI/Machine Learning and expert human-based talent curation, and deploying robotic sourcing from public talent pools. Customers can launch a reliable alternate talent sourcing channel which brings in high-quality temp workers at a significantly reduced cost.

For more information about the WillHire direct sourcing and talent pool management solution, visit www.willhire.co.

[willhiretemp]

Top 5 Use Cases of Machine Learning in Temp Hiring

The role of machine learning and artificial intelligence in temp hiring has the potential to change the hiring process. While the goal of recruitment has always been bringing the best candidates and jobs together, with an average job opening receiving 250 resume submissions, finding the best candidate from a massive applicant pool is easier said than done. Even after several levels of screening resumes and interviewing candidates, recruiting still remains an educated guess, a hope that the candidate will perform well within a given environment if they are hired..

52% of recruiters feel the hardest part of recruitment is finding the best candidates from a large applicant pool – (Source: Ideal’s Guide for Recruitment)

Who are the Stakeholders that would be affected by adopting Machine Learning and AI? Although technologies like AI and machine learning have been knocking on the doors of recruitment for quite some time now, most organizations are still reliant on keyword-matching algorithms which don’t take a candidate’s values, likes, and behavior into account. As a matter of fact, many organizations are still using job boards as their one-stop shop. These can be like a black hole for resumes and often feature job posts that have long been closed out.

Another consideration are the various players within the industry that include recruiters, MSPs, VMS and SMEs, all of which have their say in the recruiting process. With no set protocol for inclusiveness, the process is often laden with several loopholes which the candidates exploit to make their way inside. Technology could potentially help to streamline these various factions and allow for better identification of talent.

Companies Like Netflix & Google are Already Using Machine Learning in Recruitment!

Why is that top companies like Google and Netflix are always spot-on when it comes to finding the best temp and permanent talent? These companies have taken the same technology that is used in self-driving cars and recommendation engines and implemented in recruitment. Yes, we’re talking about machine learning algorithms that can train themselves over time to predict future trends. The more data you supply to a machine learning system the better it performs. From anticipating the best sourcing channels for a job role to predicting candidate performance based on skill set, behavior, and values, these algorithms help organizations increase their talent quality while decreasing the time-to-hire.

Machine Learning could reshape every stage of Talent Acquisition

Below are the use cases for AI and Machine Learning divided into the five different stages of talent acquisition, and the possibilities for every stage.

Use Case 1: Talent Sourcing

Top firms are using machine learning algorithms that use predictive variables like social profile changes, job boards visits and tracking to segment qualified candidates on their likelihood of changing jobs. They then target these candidates on different platforms using targeted advertisements.

Not only this, ML algorithms can use data to identify the best sourcing channels for a particular job role. As a for instance, an algorithm could clarify that when sourcing Python programmers, tapping into GitHub communities might be even more effective than LinkedIn or other avenues.

Best tool: Entelo

Use Case 2: Job Requirement Posting

Ensuring that job requirements are presented to the right people on the right platform is critical to making good hires. By using machine learning algorithms you can track the visitors on your careers page or website, and then use cookies to track what other platforms these users visit and at what times. This information can then be used to post targeted job ads on the right platforms at the right time, thereby increasing the hit rate and decreasing the time-to-hire.

Based on candidate behavior and preference, some AI-based tools can also tell which keywords to use in job advertisements depending on the prospective candidate profile.

Best Tool – Textio

Use Case 3: Resume Screening

Machine learning can not only help you screen resumes for keywords but for meaning. There are plenty of ways to do so. You can benchmark current resumes against resumes that have been successful in the past. You can then sort candidates based on different parameters like values, behavior,and reputation in your database. Most importantly, by using ML algorithms you can remove bias from the hiring process.

Best Tool- Staffline Pro

Use case 4: Candidate Interviewing

Video interviewing using ML algorithms not only helps save time but also reflects on patterns that are hard to catch even by the most experienced recruiters. By using algorithms to analyze voice tone, body language, context, keywords, and words choice, these algorithms can segment candidates based on their proficiency, honesty, culture-fit, and many more parameters.

Using data from previous studies ML algorithms are now also being used to develop competency tests that assess candidates on number of traits like trust, sensitivity, communication, data interpretation etc.

Best Tool – Hirevue

Use case 5: Follow-up and On-boarding

By using AI chatbots in recruitment companies can answer any questions a candidate might have 24/7. These AI chatbots come with programmed responses to a set of frequently asked questions and learn to incorporate new responses based on chat history. By self-learning based on interactions they can reduce recruiter man-hours considerably.

For companies that use machine learning in every phase of recruiting, by the time a candidate is about to be on-boarded they have made a virtual profile of each candidate based on his or her profile, which helps them curate personal messages for every candidate.

Best Tool – Staffline Pro

There is no doubt that by using machine learning algorithms in talent acquisition, companies can make better hiring decisions whether it be sourcing, screening or onboarding. Technology has the potential to impact every part of the recruitment cycle and can considerably reduce the cost-to-hire. Data driven, consistent, and free from any bias, machine learning applications in recruitment might revolutionize the entire process.

[willhiretemp]

WillHire Direct Sourcing & Talent Pool Management Now Available on SAP® App Center to Help Optimize Contingent Workforce Management

Compunnel today announced its WillHire Direct Sourcing & Talent Pool Management Software application is now available on SAP® App Center, the digital marketplace for SAP partner offerings. The integration of WillHire with SAP Fieldglass Contingent Workforce Management enables businesses using SAP Fieldglass solutions to leverage its artificial intelligence (AI) capabilities to help build and hire from a vetted private talent pool of contingent workers.

The WillHire Direct Sourcing & Talent Pool Management application adopts direct hiring strategies for full time employees such as employee referral programs, employer branding and personalized job recommendations into the temporary labor hiring ecosystem. The direct sourcing approach for contingent labor will help businesses optimize spend and improve contingent workforce program efficiency.

Due to the rising importance of contingent workers who often operate at the core of business, organizations are taking a more strategic, comprehensive approach to total talent management and workforce planning.

Today, contingent labor programs are heavily dependent on traditional staffing suppliers to source talent. Rather than relying on third-party suppliers, which can lead to issues with time to hire and quality of projects, WillHire Direct Sourcing & Talent Pool Management enables companies to find contingent workers directly.

The WillHire solution brings innovation to the contingent workforce landscape, bridging the disconnect between procurement and human resource functions so that organizations can adopt a total talent management strategy.

“WillHire’s Direct Sourcing & Talent Pool Management solution has been successfully implemented by large enterprises and has been proven to reduce both spending and time to hire,” said Praneeth Patlola, Chief Product Officer, WillHire by Compunnel. “The integration of our app with the SAP Fieldglass Contingent Workforce Management solution and our strong SAP partnership, further enable us to help more businesses access our platform and optimize their contingent workforce programs. Customers can expect to gain a competitive advantage by building a steady pipeline of temporary labor and advancing their total talent management strategies.”

WillHire provides businesses that use SAP Fieldglass solutions with capabilities to source, screen and engage contingent workers more cost effectively, including the ability to:

Launch employee referrals for temporary labor jobs with no additional budget needed

Attract contract talent from 100+ job boards

Engage talent with personalized job recommendations through text and email

Identify top talent easily with AI and built-in self-assessments

Engage candidates from retiree and alumni networks

Deliver an advanced candidate user experience while quickly growing a private talent pool

At SAP App Center, businesses can discover approximately 1,800 innovative partner solutions that integrate with and extend SAP solutions. The solutions are SAP-validated and can be sorted by SAP product line, industry, solution type and use-case scenario, creating a seemingly endless supply of opportunities. Find, try, buy and manage SAP partner solutions digitally at www.sapappcenter.com.

Compunnel is an SAP silver partner in the SAP PartnerEdge® program. As such, it is empowered to build, market and sell software applications on top of market-leading technology platforms from SAP. The SAP PartnerEdge program provides the enablement tools, benefits and support to facilitate building high-quality, disruptive applications focused on specific business needs – quickly and cost-effectively. The program provides access to all relevant SAP technologies in one simple framework under a single, global contract.

About WillHire from Compunnel

WillHire is the direct sourcing solution offering from Compunnel, one of the leading talent solutions providers in the US since 1994. Compunnel is an early technology adopter in the talent management industry and has developed several solutions based on the ideas of crowdsourcing, referral networks and marketplaces. With offices in 29 states in the US, Compunnel has its global operations in Canada, UK, India and Philippines.

For more information about the WillHire Direct Sourcing & Pool Management solution, visitwww.willhire.co

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SAP and other SAP products and services mentioned herein as well as their respective logos are trademarks or registered trademarks of SAP SE in Germany and other countries. Please see https://www.sap.com/copyright for additional trademark information and notices. All other product and service names mentioned are the trademarks of their respective companies.

For more information, press only:

Praneeth Patlola, Chief Product Officer

marketing@willhire.co