In today’s fast-paced business landscape, staffing is increasingly managed through technology, modernizing how companies recruit talent. Job orders are often distributed and received electronically through a Vendor Management System (VMS).
VMS is a cloud-based solution that streamlines a company’s management of its contingent workforce from sourcing to time tracking, invoicing, budgeting, analysis of labor, and more, often in partnership with a staffing agency. With 71% of U.S. and 66% of Canadian companies willing to hire contingent workers, according to a recent Express Employment Professionals-Harris Poll survey, VMS saves valuable time in recruiting and managing the workforce by automating these processes.
Why Companies Choose VMS
As HR and Procurement professionals seek to deliver increasing strategic value to internal stakeholders, VMS can offer improved access to talent while optimizing the hiring process. According to a report from HRO Today and Magnit, 57% of HR leaders have a formal process to manage their contingent workforce to some extent, which may include using technology to create and approve requests, track time, and more.
The evolution of VMS from being a system of records to supporting direct sourcing of contingent workers through company-specific attraction programs is driven by informed buyers. Typically, a VMS is a vendor-paid model without direct costs to the client. Implementation is usually quick with no minimum spending requirements, which makes VMS an accessible solution for companies of all sizes.
VMS vs. MSP
A Staffing Industry Analysts survey shows 81% of respondents use a VMS and 55% use a Managed Service Provider (MSP), and according to a report from HRO Today and Magnit, 48% of HR leaders use an agency supplier like an MSP to recruit contingent workers. While these technologies can achieve the same goal of sourcing job candidates, there are distinct characteristics that make each unique and suitable for various circumstances, as outlined by SimpleVMS.
Courtesy of SimpleVMS
VMS can be a valuable tool to source talent for your workforce. Partnering with a staffing agency like Express Employment Professionals through a VMS can offer a cost-effective option to ensure you have the workers you need.
Express Is a Top VMS Supplier
Express Employment Professionals is a VMS MSP vendor of choice. With more than 25 years of experience as a VMS supplier and over 40 years of expertise in staffing, Express is a compliant partner with top talent to meet your staffing needs. When you partner with Express, you can expect strong local relationships, adherence to VMS and MSP programs, VMS time entry, invoice accuracy, and more.
About Express Employment Professionals
At Express Employment Professionals, we’re in the business of people. From job seekers to client companies, Express helps people thrive and businesses grow. Our international network of franchises offers localized staffing solutions to the communities they serve across the U.S., Canada, South Africa, Australia, and New Zealand, employing more than 11 million since its inception. For more information, visit ExpressPros.com/Employers or ExpressPros.ca/Employers.
The Job Insights survey was conducted online within the United States by The Harris Poll on behalf of Express among 1,007 U.S. hiring decision-makers from Oct. 31 to Nov. 10, 2023, and within Canada among 504 Canadian hiring decision-makers from Oct. 31 to Nov. 10, 2023. For complete survey methodology, please contact Communications@ExpressPros.com.