History has taught us that when the economy climbs back after a downturn, companies look toward the contingent labor landscape to get work done and optimize labor spend. The share of contingent labor in an organization’s workforce went up north after the culmination of the Great Recession in 2010.
More than 25% of the 1.17 million private sector jobs added in 2010 after the Great Recession were temp jobs.Rise of the Contingent Workforce by Christiane Soto, Snelling
Yet again, in 2020, history repeats itself. But this time it is a forced temporary shutdown of the economy due to the pandemic, unlike 2008. Once again employers will follow suit to engage contingent workers as the economy starts to rebound.
In a highly competitive labor market, particularly when the role of contingent labor is critical more than ever in the past, employers had devised strategies to attract and engage contract workers before Covid-19.
Post-pandemic, the scenario will remain even more competitive and employers should be prepared with efficient strategies to onboard the furloughed or laid-off contract workers.
To keep the furloughed employees and laid-off contract workers engaged, it is high time that employers look beyond traditional sourcing models using VMS and actively weigh-in the opportunities to deploy technology enabled strategies, like direct sourcing.
In the recent webinar ‘The Future of Sourcing: Combining Direct Sourcing with Your VMS Strategy’ Taylor Ramchandani from VectorVMS and Praneeth Patlola from WillHire presented the case of integrating direct sourcing with the VMS strategy as the future of sourcing in the post-pandemic world of work.
WillHire and VectorVMS have partnered to deliver direct sourcing solutions integrated within the VMS with zero disruption to existing programs and at no additional cost.
They discuss how direct sourcing, as an additional layer within the VMS tool, augments the sourcing exercise and helps employers create a vetted talent pool of contract workers, improve the quality of hire while saving cost, without any disruption to the existing program.