Finding quality talent quickly is one of the biggest challenges for recruiting teams, especially when contingent labor is involved.
More often than not, organizations need to bring in contingent talent fast. However, with recruitment becoming increasingly competitive, you can sometimes miss out on good candidates because you’re too slow to engage. Other times you’re simply unable to find the right fit in time. This makes it imperative for organizations to regularly review their process and find ways to make it more efficient.
Whether you work with traditional or contingent labor (or a mix of both), here are six strategies you should implement in your program to speed up your recruiting, as well as a look at how a vendor management system (VMS) can help you manage each of them.
1. Use Artificial Intelligence (AI)
AI technology has proven to be a time and money saver across a range of different industries and scenarios—from improving customer experience in retail businesses to getting faster and more accurate diagnoses in healthcare. When it comes to talent acquisition, AI can be incorporated into the recruiting process via a VMS. The technology can take care of time-consuming tasks throughout the process, like narrowing down candidate lists or processing resumes.
AI can rank candidates for you and only show you the ones that meet your requirements. With so many resumes to review but little time to find quality talent, we need to be strategic with our time and how we spend it—AI can help with that.
MORE ABOUT AI | ‘The Power of AI and How It Can Transform Your Talent Acquisition Strategy’
2. Build Talent Pools
Talent pools are an essential source of potential candidates. A talent pool is basically a database of candidates eligible for hire in your organization. The database could include ex-workers that showed interest in coming back at some point, as well as candidates you meet during the process that fit your criteria, among others.
Having a well-structured and organized talent pool will save you time when you need to find talent urgently, as you already will have a list of potential candidates. What’s more, these are candidates that have already engaged with your organization, meaning that some aspects of the process (like reviewing documentation or resumes) have already been covered.
A VMS where you can manage talent pools makes the process even more straightforward. VectorVMS’s enhanced, partner-powered talent pool functionality enables you to create pools according to your requirements—you can easily add candidates to your pools at any stage of the entire recruiting pipeline. Through the VMS, you can directly source the talent you need. You can also use it as a strategic advantage to grow your candidate pool and ensure you’ll have the best options available when you need them.
3. Screen Your Candidates
Candidate screening is also a vital step of the recruitment process. Although it might sound positive to receive a vast number of applications when recruiting, the process can quickly become unmanageable if you don’t narrow down the candidates from the beginning. That process is called candidate screening.
If you don’t screen your candidates, you may end up with talent pools that are too big to manage properly. You need a process where you can easily whittle down applications and organize them for future requirements. Within your VMS, you can use a module to compare candidates, match skills, or screen candidates for minimum qualifications according to each of your requisitions.
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4. Start Direct Sourcing
Sourcing candidates directly makes the hiring process significantly faster and also improves transparency for your candidates. You can use your own brand to bring talent in, letting candidates know more about the role/company and whether they’ll be a good fit.
With direct sourcing, you can post jobs directly onto career sites and job boards, removing agencies or other third parties from the equation. This will also lead to a cost-to-hire decrease and a speed-to-hire increase.
LEARN MORE ABOUT DIRECT SOURCING | ‘What Are the Benefits of a Combined Direct Sourcing and VMS Strategy?’
5. Utilize Passive Recruiting
We’ve all been contacted at some point by an individual on LinkedIn asking if we’re open to new opportunities—We even have the option on our profile to state if we’re open to considering new roles. When recruiters or hiring managers seek out candidates in this way, it’s known as passive recruiting.
By leveraging advanced technology, you can automate the process of finding talent. VMS technology can aid you in identifying skills listed on candidate resumes against the roles that are being sourced, as well as creating talent pools for recruiters to use. This saves time spent on manually sifting through candidate profiles. Recruiters can then jump straight to communicating with potential candidates.
6. Explore Redeployed Talent
If it’s not broken, why fix it? Instead of going through and finding all new talent for open positions, many organizations chose to redeploy talent that has already worked for them in the past. Redeploying talent has many benefits:
- Decreased sourcing time to find the right candidate for the role
- Lower recruitment costs
- Faster time-to-fill for open positions
- Efficiency savings—no need to fully onboard a new candidate
- Probability of lower turnover because the candidate was a success in previous roles
Creating redeployed talent pools is a quick and easy way to drive recruiter efficiency.
Automate Your Recruitment Process With VMS Technology
The recruitment process has many steps, each of which demands a keen eye for detail to spot mistakes or areas of improvement. The process can become even more complicated when working with contingent labor and multiple vendors. In this context, you must leverage automation to ensure an optimal program. A VMS is the perfect way to seamlessly integrate all the aspects of your contingent labor program in one place.
Are you interested in building an agile and efficient recruiting process? Contact us today to learn how. You can also schedule a demo to see our VMS technology in action.
Meet the Expert
Taylor Ramchandani – VP of Strategy
Taylor Ramchandani is responsible for the management and strategic planning of the VectorVMS vendor management system. Taylor is committed to client satisfaction and to ensuring VectorVMS technology meets the current and future needs of clients and managed service providers (MSPs). She uses market research and in-depth industry experience to create products and services that make extended workforce management efficient and intuitive. Taylor oversees product development, marketing, and business partnerships for VectorVMS and is responsible for driving innovation for contingent workforce management. Connect with her on LinkedIn.
