Has managing your temporary, contract, and freelance workforce become a complex juggling act? It might be time to explore technology solutions to streamline your extended workforce management. This article delves into the signs that indicate you need to level up your program, the key features to consider when choosing the right solution, plus quantifiable cost savings. Making the Jump to a Gen-1 Program In this context, we’re referring to a “Gen-1 program” as a company initiative where software transitions from traditional in-house management of tasks with minimal or no technological support ..read more

Technology evolves at an often unpredictable pace—it’s imperative for HR professionals to stay informed and engaged in discussions about emerging tools. Artificial intelligence (AI) is a great example: although present in many HR tools for years, it has recently reached a level that calls for a thorough examination of its new capabilities. Let’s explore how AI applications are transforming workforce management and gain insight into how to leverage its benefits. The Rise in AI-Powered Tools AI usage is already established in many industries, and HR is no exception. At the end of 2023, a survey ..read more

Understanding the talent ecosystem best practices currently setting the standard for recruiting and hiring will help you stay ahead in 2024. Join us as we separate the genuine direction of travel from the hype and highlight three of the most important trends this year. Trend #1: Increasing Use of the Extended Workforce The near future will see an ongoing increase in contingent and gig worker demand. According to Statista, freelance workers are expected to reach 86.5 million in the U.S. by 2027, comprising 50.9% of the total workforce. A 2023 survey of over 2,000 company leaders worldwide revea ..read more

RALEIGH, NC—25 March 2024—VectorVMS, a prominent provider of vendor management solutions to support contingent workers, proudly announces its inclusion as a Market Leader in the latest Ardent Partners report, ‘The 2024 VMS Technology Advisor.’ This prestigious recognition underscores VectorVMS’s commitment to excellence and innovation in the field of contingent workforce management. Ardent Partners, a leading research and advisory firm in the HR industry, assessed VectorVMS based on two key criteria: “Solution Strength,” which evaluates the platform’s ability to support the full scope of cont ..read more

Your contingent workers are a vital part of your organization, so when it comes to compensating them, is there room for improvement? Absolutely! To achieve this, we believe it’s important to incorporate rate management into your talent ecosystem. Rate management involves overseeing and controlling the bill rates paid to staffing agencies, ensuring that your employees’ compensation aligns with market standards. The primary benefit is a reduction in talent turnover. However, achieving this requires an awareness of the specific challenges associated with this practice. In this article, we’ll delv ..read more

How did five years pass by so quickly? This month, the team is feeling nostalgic as we celebrate our fifth anniversary. VectorVMS’s journey so far has been exciting and characterized by unwavering commitment, numerous trials and triumphs, and a legion of satisfied customers. Let’s take a moment to reflect on this wonderful half-decade. From itiliti to VectorVMS: Hand in Hand With the Evolving Workforce While the VectorVMS brand is celebrating its fifth year, our company’s full journey actually extends back more than 20 years: 1999: Our story begins with itiliti, a platform designed to facilit ..read more

As part of the contingent workforce management industry, we’re acutely aware of differing opinions on the possibility of an economic recession in the upcoming year. Still, according to the Federal Reserve Bank of New York, 84% of CEOs are already preparing for one. When economic growth slows, the hiring of contingent workers typically increases, due in part to the greater flexibility that contract workers offer. However, in the realm of diversity, equity, and inclusion (DE&I), we often witness the opposite trend. In downturns, DE&I initiatives risk being cut, as they’re sometimes consi ..read more

RALEIGH, NC—05 October 2023—VectorVMS, a leading provider of vendor management solutions (VMS), is reaffirming its commitment to promoting diversity, equity, and inclusion (DE&I) initiatives through its services. The company has introduced a new module in its VMS platform that enables organizations to track candidate diversity within their contingent workforce, during both the sourcing and engagement stages. “Being able to accurately track, measure, and promote diversity initiatives is hugely important, but until recently, this was mainly a focus for full-time labor. With the growth in the ..read more

A great way to integrate technology into your contingent workforce programs is through a vendor management system (VMS). VMSs have proven effective in improving the quality of hiring processes, expediting talent management, and delivering time and budget savings. That’s why VMSs are used by at least 81% of American companies with a contingent workforce program. To help you realize these benefits, two key VMS attributes play a central role: configurability and integrations. Hence, to get the most out of our program, it is essential to understand these two concepts, and in this article, we will ..read more

So, contingent labor has become increasingly important for your organization. Your forecasts strongly suggest that your need for contingent labor will only grow in the next few years. But while tapping into the contingent workforce may solve your business needs, you also know that there are administrative complexities associated with relying on it. You know you’d be able to get on top of this added complexity with a dedicated vendor management system (VMS), so you’re considering your options. In this article, we’ve pulled together 11 questions that’ll help steer your decision—helping you find ..read more