VMS RECRUITING
Vendor management system or VMS refers to software systems, online applications, or websites facilitating recruitment and staffing functions. VMS recruiting helps staffing firms to scale their business, source more candidates, fill more vacancies and build a robust talent pipeline. The vendor management system enables staffing suppliers such as recruitment agencies and MSPs (Managed Service Programs) to procure a contingent workforce for employers and provide other staffing services. VMS staffing support facilitates talent management, supplier management, and SOW model sourcing and management.
A Managed Service Provider (MSP) is an outsourced agency that manages the contingent worker program (temporary staffing) of a client company (typically a Fortune 1000 company like Coca-Cola or Citibank) by managing its preferred staffing agencies. It consists of a team of program managers and coordinators that help the client company source and manage temporary workers from their preferred staffing agencies.
How Staffing Works?
Large Fortune 1000 companies have always hired part of their workforce as contractors or temps. The process of bringing these temporary workers on board was very cumbersome and inefficient. The process would typically work something like this A hiring manager (Sue) would get approval from her boss to hire a temp · Sue would search for a staffing agency by calling different agencies her friends or colleagues recommended or she found in the Yellow Pages · Sometimes, the company may have approved suppliers · The staffing companies would then source candidates and start sending Sue resumes · Sue would pick a candidate from those submitted · If the staffing agency was new, she would sign a Master Services Agreement (MSA) with them, and cut a Purchase Order (PO) to the new staffing vendor and the contractor could start work On the Sales side, staffing agency sales reps would be roaming the halls of her company dropping off their cards, meeting potential client managers, and taking them out to lunch/golf. There was no consolidated requirement list at the company and no way to predict who might have the next requirement- so the best way was to ‘spray and pray'.