| One of the hottest trends in the staffing industry is | | | | the next 12 months. The staffing vendor selection |
| the corporate implementation of the Preferred | | | | process for companies, however, is fraught with |
| Vendor List, a company's own elite collection of | | | | questions: |
| staffing suppliers. Although companies develop these | | | | - How will you as a company let off-list staffing |
| staffing vendor lists for very good reasons, as we'll | | | | vendors know when you're beginning the selection |
| see below, there are also four inherent challenges | | | | process so they can contact you without becoming a |
| with this management tool. | | | | nuisance? |
| | | | - How will you ensure that a potential staffing vendor |
| 1. Limited view of the talent market (You're | | | | is a match for your company's staffing needs? |
| dependent on the talent pool of each of the | | | | - What will you do with the hundreds of brochures, |
| preferred staffing suppliers on your list) | | | | business cards, and voicemail messages you're |
| 2. Staffing vendor complacency (Once a staffing | | | | inevitably going to receive? |
| supplier makes the cut, they may be less responsive | | | | The smartest way to select staffing vendors Like a |
| to your requests over time) | | | | light at the end of a tunnel, the HotGigs survey of |
| 3. A decrease in the competitive environment for | | | | hiring companies points to an innovative way of |
| staffing suppliers on the list (With less competition | | | | researching and selecting quality staffing suppliers. In |
| among staffing suppliers, the speed of filling your | | | | our surveys, companies said they want an |
| requisitions and the quality of the candidates may | | | | on-demand, centralized database system to help |
| suffer) | | | | them select staffing vendors for their Preferred |
| 4. Rigidity | | | | Vendor List. The system, they said, should help |
| Your staffing vendors may become unwilling to work | | | | companies see a staffing firm's consultant portfolio. |
| with sub-contractors and other partners. Due to | | | | Such a system would allow companies to match their |
| these four issues it behooves companies to | | | | needs to a firm's strengths in a simple and |
| continually revise their Preferred Vendor Lists. In this | | | | transparent way. That's just what HotGigs' |
| article we reveal the smartest way of researching | | | | On-Demand Staffing Exchange offers hiring |
| and selecting staffing vendors for your Preferred | | | | companies. HotGigs gives companies an inside look |
| Vendor List, a solution so simple it's just a click away. | | | | into a staffing firm's consultant portfolio. The service |
| Growth of staffing vendor list More companies are | | | | is FREE to hiring companies--the fees are paid by the |
| creating Preferred Vendor Lists, according to a | | | | staffing firms. This valuable resource helps companies |
| staffing industry analyst report from March 2005. | | | | identify the firms they should add to their Preferred |
| The report stated that 48 percent of Fortune 500 | | | | Vendor Lists, and provides a window into: |
| companies have implemented these lists, and the | | | | - The qualifications |
| number of companies pursuing this staffing vendor | | | | - Availability |
| consolidation strategy is expected to grow another | | | | - Rate ranges |
| 25 percent in the next two years. The trend isn't | | | | - Experience ratings |
| surprising. Many companies want to minimize the | | | | - and geographic locations of a staffing firm's |
| number of staffing suppliers with whom they have to | | | | consultants. |
| communicate, for a variety of reasons, including: | | | | The HotGigs exchange also lets companies post and |
| - Process efficiency (The Preferred Vendor List | | | | broadcast job requisitions and instantly research |
| enables streamlined communications with fewer | | | | which firms have consultants whose skills and |
| firms) | | | | availability match their core demand-then request |
| - Volume discounts (Staffing suppliers on the | | | | resources from firms within the exchange. Of course |
| Preferred Vendor List work with standardized or | | | | there are other considerations to weigh, too, before |
| preferred pricing) | | | | adding a staffing supplier to the Preferred Vendor |
| - Masters, work orders, invoicing (More | | | | List, such as: |
| standardization simplifies the process of contract | | | | - The staffing vendor's track record with other |
| management) | | | | companies |
| - Reduced risk (Working with fewer firms results in a | | | | - The size of the firm |
| reduced number of co-employment and payment | | | | - The speed to fill positions |
| issues) | | | | - And the ability to adhere to staffing processes |
| - Cultural mindshare (A group of staffing suppliers | | | | But the main consideration has to be a firm's portfolio |
| knows your company culture, policies, and processes) | | | | of consultants. Only HotGigs can instantly help a |
| How to add staffing vendors? As mentioned earlier, | | | | company research a firm's portfolio of available |
| despite the upside of the Preferred Vendor List, | | | | consultants. The HotGigs system is positioned to |
| companies continually have to research, add, and | | | | become the most powerful industry-wide research |
| delete staffing vendors based on changing needs and | | | | portal for hiring companies needing contract and |
| performance. In our own informal survey of | | | | consulting talent. Having access to HotGigs' |
| companies using HotGigs - On-Demand Staffing | | | | On-Demand Staffing Exchange will be a driving force |
| Exchange, 50 percent of respondents reported that | | | | in the future of staffing vendor selection. |
| they planned to make changes to their suppliers list in | | | | |