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You're too busy to start using a vendor management system (VMS) and other common myths about implementing a VMS.

Today, many company leaders understand that caring for the well-being of their employees is essential. The pandemic revealed how vital mental health is and the struggles many people face with managing it.

When using multiple vendors to handle your staffing needs, it’s common for each supplier (and their temporary workers) to rely on their own timekeeping system. Often, this approach is cumbersome, requiring supervisors to review multiple systems to confirm worker hours, deal with paper time slips on a daily or weekly basis, or otherwise spend a significant amount of time on payroll activities.

Today, hiring struggles are commonplace. Companies are seeing less-than-usual candidates available in the labor market, resulting in more competition for talent. As a result, organizations are exploring ways to expand their recruitment reach.

Over recent months, fears of an upcoming recession have continued to grow. The current landscape is challenging from an economic perspective. Inflation is pushing up prices for various goods and materials, leading to higher costs for businesses in nearly every sector. Plus, wage expectations among professionals are trending upward, and many companies are seeing their payroll increase dramatically to remain competitive.

In many cases, growing your workforce quickly is challenging. Even if you have multiple vendors at your disposal, exploring all of your options is a cumbersome process if you don’t use the right approach. Contacting each supplier individually requires a significant amount of time. Plus, there’s no guarantee you’ll ultimately connect with the best candidate right away, especially if you’re not reaching out to every vendor simultaneously.

When you need a flexible, scalable workforce, introducing contingent workers to the mix is essential. You’ll gain access to highly skilled professionals without needing to permanently bring them onto your payroll, giving you versatility. Plus, it’s a far more cost-effective solution for shorter-term needs, resulting in financial gain.

Communication is often the foundation for business success. While many organizations aim to ensure that information flows freely within their organization, not all companies are as diligent when it comes to their vendors. As a result, these relationships may not be as strong as they could be, increasing the odds of missteps or misunderstandings that can have serious consequences.

Quiet quitting is a relatively new trend within the workforce. It essentially refers to employees doing the bare minimum based on their job description. Essentially, they aim to meet expectations by handling those outlined responsibilities but aren’t going above and beyond in any capacity.

Managing a contingent workforce is often challenging. Fortunately, a way to streamline the process is by implementing a leading vendor management system (VMS).