Strategic workforce planning (SWP) is a human resources (HR) activity that helps organizations ensure they have the right employees to meet current and future business goals. It involves assessing the workforce’s needs today and, in the future, and then determining what talent management initiatives are needed to drive those goals. SWP can help organizations anticipate change, prepare for the future, and overcome talent gaps. A few benefits of SWP include:
Challenges that can arise when implementing SWP include poor data quality and a lack of clearly defined roles and responsibilities.
Recruitment process outsourcing (RPO) is a business model where a company transfers some or all its recruitment processes to a third-party provider. The provider, known as an RPO provider, is responsible for managing the recruitment process and can help with tasks like advertising roles, resume screening, and candidate interviews. RPO providers can either support a company virtually or can have a team on-site who are embedded within the company’s HR or people function.
RPO can help companies achieve cost savings, improve efficiency, and scale their business. For example, RPO can help companies fill vacant positions quickly, which can save money and increase productivity. RPO can also help companies scale by providing a dedicated team with the skills and expertise to attract and hire top talent.
RPO providers typically charge an open fee for each job requisition and a close fee once the job is filled. Some providers also offer a hybrid-blended pricing model that combines a monthly management fee with pay-for-performance models.
A managed service provider (MSP) in staffing is an outside organization that manages the recruitment and management of temporary workers for a client company. MSPs can handle all or part of the recruitment process, from raising awareness of temporary positions to hiring candidates. They also manage the contingent workforce, which includes supplier management, strategic workforce planning, and offboarding. MSPs can provide a variety of services, including:
MSPs can be an effective and cost-efficient way for businesses to manage their contingent workforce. They can help organizations improve the efficiency of their contingent staffing process, boost the efficacy of their talent supply chain, and provide better access to contingent workers.
A vendor management system (VMS) is a software or online application that helps businesses manage the procurement and management of contingent workers in the staffing industry. VMSs can help with the entire lifecycle of contingent workers, from sourcing and engaging to managing, invoicing, reporting, and offboarding. They can also help businesses manage third-party suppliers and provide staffing services. VMSs can help businesses with the following tasks:
VMSs are often cloud-based and can automate transactions and collect a variety of data. They can help program managers manage cost, efficiency, quality, and risk in a single platform. Enterprise staffing firms are most likely to use VMSs because of the high volume and lower margins for jobs placed through them.
Strategic sourcing in recruitment is a process that helps organizations find qualified candidates to fill their talent pipeline. It involves using various sourcing channels and techniques to identify high-quality candidates. The strategy is determined by the type of candidates the recruiting team is looking for and the channels they will use to find them. Sourcing channels leveraged include social media channels, programmatic advertising, job boards, and professional networks and organizations. Here are some tips for creating a strategic sourcing strategy:
