Throughout EMEA most of the large contingent labor programs utilize a component of direct sourcing as a part of their staffing strategies and many of the outsourced Managed Service Providers (MSP) have Service Level Agreements built into their commercial models that focus on speed, cost, and process efficiencies. This model allows the MSP to drive increased revenue while fulfilling the client’s need for quality labor at the right price. While these models support success in certain categories and can fill immediate jobs, the benefits tend to focus on existing open roles, preventing communities of talent from being cultivated for the organization’s long-term benefit. In North America the models have not yet evolved to this magnitude and most roles are still filled through a very qualified supply chain without direct sourcing capability.
What would you say if I told you there is a way to keep your top suppliers engaged with your immediate business needs while simultaneously building a new channel of directly attracted talent? By leveraging your company’s brand for recruitment, you can improve quality, lower costs, and speed up the hiring process. The evolution of contract talent attraction starts with leveraging your brand in a way that allows you to build a talent ecosystem and, once built, it becomes a continuous source to find the right people. If you look through the lens of a skilled contract worker finishing an existing assignment or looking for a new and challenging role, it is currently rare for them to identify challenging open roles without working through a staffing agency. Corporate websites do not provide a contract worker the ability to see what roles might be available for them. Full time roles, sure; but contract roles are mostly non-existent.
Simply put, a talent ecosystem is a proprietary database of known and brand-attracted talent. This population of workers could include former contingent workers from your existing program or VMS system, referrals, retirees, alumni and “silver medalists,” a term for talent that was sourced for previous roles and may be a perfect fit for the organization but fell short for the opportunity for which they were originally presented. Unknown workers can also be engaged with your talent ecosystem through a number of other sources such as your corporate website, job boards, social media, and more. This ecosystem is seamlessly integrated with your best-in-class VMS to ensure you maintain one standard source of data throughout the lifecycle of the worker. By combining these two technologies, customers can ensure workers are engaged compliantly and aligned to existing processes.
Our customers are screaming for innovation with real results. By engaging known workers with a demonstrated desire to work for your company, quality of hire improves over 30% with outputs and delivery of projects being met. On average, customers can save up to 40% on contingent worker acquisition costs through the optimization of suppliers, but more importantly have the ability to reengage this talent for future assignments. Your data is your data and it will never be used as an alternative revenue stream as you have your own propriety ecosystem.
What more is there is to say? Talent ecosystems are the future of any progressive contingent labor program and an excellent answer to the question of innovation within the contingent staffing space.
Talentnet is a preferred partner to Beeline in the creation of talent ecosystems and Talent pooling. Talentnet technology platform seamlessly integrates with Beeline, allowing customers to engage a direct source model. For more information please contact Phil Cooper at email@example.com
Beeline welcomes this guest post from our partner, Talentnet. The post represents Talentnet’s opinions and not necessarily those of Beeline.