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Blog

The Supplier Management Benefits of Diversity in Contract Labor

Mar 19, 2020 2:21:27 PM

nextSource is proud to have recently earned Women’s Enterprise Business National Council (WEBNC) certification as a woman-owned company. There are proven benefits to engaging supplier management organizations to help source and manage contract labor. Let’s examine some of the most significant ways diversity in supplier management for contract labor delivers positive outcomes for organizations.

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Topics: Blog, MSP/VMS, Cost savings, Human Resources, Workforce Management, Supplier Management

What is an MSP?

Dec 13, 2019 11:00:00 AM

An MSP or Managed Services Program is a service that enables customer organizations to outsource the responsibility for maintaining a range of business processes and operational functions in order to deliver the benefit of technology solutions and services instead of managing said processes internally. MSPs typically manage services procurement, staffing supplier relationships, and other talent sourcing and administration functions using relevant technologies like Vendor Management System (VMS) platforms and other tech tools.

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Topics: Blog, MSP/VMS, Human Resources, Workforce Management, Supplier Management, Technology, Strategic sourcing.

The Skinny on Engaging Diversity Suppliers for Contingent Workforce Management

May 3, 2019 12:52:48 PM

Diversity in contingent workforce management is a topic that has evolved in its significance over time. There is enormous value in pursuing a diversity strategy when building a workforce and when selecting staffing suppliers to participate in achieving broader workforce management goals. At the same time, there are many misconceptions about what is involved. This post will explore the common questions regarding the reasons for (and ways how to) field a diversity program within your workforce management practice.

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Topics: Blog, Best Practices, Workforce Management, Supplier Management

Why Supplier Diversity Strategy is Critical to Workforce Planning

Jan 21, 2019 8:00:00 AM

 

As the nation prepares to celebrate the life and achievements of Dr. Martin Luther King Jr., it seems fitting to examine one of the most powerful legacies his life helped to realize. King’s message of equality continues to help promote the unparalleled power of embracing diversity across all facets of society, including the business community. The strategic power of diversity in the workforce cannot be understated. Let’s examine the undeniable benefits of pursuing supplier diversity in the design of workforce plans.

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Topics: Blog, Human Resources, Best Practices, Supplier Management

Steps to Becoming a Preferred nextSource Supplier Partner

Nov 2, 2018 1:39:37 PM

 

Last week, nextSource hosted its first Keystone Partner Summit which included the conferral of 2018’s Keystone Partner awards. The commonality between all four categories—the Keystone Partner Award, the Premier Partner Award, Emerging Partner Award, and the Fidelity Award—is excellence in partnership. After the event, we announced the winners in a press release, prompting other staffing companies to ask how they might become preferred partners too. This post outlines the steps an organization can take to become preferred supplier partners.

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Topics: Blog, Supplier Management

Four Ways to Become an “A+” Customer to Your Suppliers

Sep 6, 2018 3:52:07 PM

With unemployment rates at the lowest mark this century, everyone is eager for strategies from HR to attract and acquire talent. Yet for contingent workforce programs, this means strategies involving the staffing suppliers that comprise the talent supply chain. Success will depend on ensuring your suppliers can attract the talent your organization needs. In pursuit of that success, here are four ways to become an “A” customer to your suppliers and ensure your contingent talent supply chain is effective in delivering top talent.

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Topics: Blog, Supplier Management

M&A Activity and Market Gyrations Force Focus on Staffing Supplier Readiness

Aug 3, 2018 2:57:05 PM

How well can your existing supplier base scale with your business, particularly should your company be involved in a merger or acquisition? While your organization may not currently be an M&A target, the chances it may soon become one are increasing at precisely the same time as the staffing supply industry is experiencing a fragmentation into so many highly specialized but smaller provider organizations. If M&A action is initiated within your organization, or even simply in response to market fluctuations made more likely by the expanding trade war, we ask, “how well equipped is your supplier base to flex and ramp up to meet the challenge?”

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Topics: Blog, MSP/VMS, Workforce Management, Supplier Management

Truth in Advertising: Tips for Properly Vetting New Staffing Suppliers

Jul 13, 2018 12:24:20 PM

When program managers are in the process of vetting new staffing suppliers to serve a contingent workforce program, there are several critical components they must pay careful attention to. Today, every supplier seems to offer a “we can do anything” support model, but it’s critical to dig a little deeper and ask the right questions to gain the foundation for a successful partnership. Here are some tips based on decades of experience in vetting staffing companies for our client MSP programs.

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Topics: Blog, MSP/VMS, Best Practices, Supplier Management

When is Vendor Neutral Really Neutral?

May 22, 2018 10:48:59 AM

The term “vendor neutral” is bandied about frequently in the design phase of a managed services program (MSP). The idea being that instead of a prime vendor model wherein one “prime” staffing vendor is engaged to fill all requisitions at pre-negotiated rates, requisitions are instead issued to an array of participating suppliers who issue competitive bids for each position. In theory, a vendor-neutral MSP model is quite successful at keeping bill rates competitive. Yet, in some cases, the neutrality of the MSP may not be as egalitarian as one may think. Here’s some inside information that can help a hiring organization ensure they’re being afforded true neutrality.

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Topics: Blog, MSP/VMS, Best Practices, Supplier Management

When Insurance is a Barrier to Business

May 10, 2018 12:08:12 PM

For many independent contractors, the following frustrating scenario is all too familiar: you’ve checked off all of the requirements of a contract for a fantastic gig and waiting for the final approval, only to be told you’ll need different levels of liability insurance to solidify the deal. For hiring managers, a similar scenario often unfolds: your on-site contingent workers are carefully selected ready to work, but must be turned away at the door because the staffing firm’s business insurance expired the day before. These are just two examples of the ways in which insurance requirements can become a barrier to accessing talent and advancing your business. In this blog, we take a closer look at how Bunker, a nextSource channel partner, is taking an innovative approach to help companies overcome insurance as a barrier by combining insurance and technology.

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Topics: Blog, Best Practices, Supplier Management, Technology, Independent contractors

How to Avoid the Growing Threat of Billing Scams with Consolidated Billing

Apr 18, 2018 4:07:51 PM

One of the “hot topics” at a recent conference attended by nextSource focused on the rise of some clever scams perpetrated against higher education organizations within their procurement departments. One such organization admitted to being victimized by these proliferating scams to the tune of millions of dollars! Read on to learn about this pernicious con being committed by scammers and how to avoid falling victim to it in any industry.

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Topics: Blog, MSP/VMS, Procurement Services, Risk Management, Supplier Management

The Six Critical Components of a Strategic Sourcing Initiative

Feb 26, 2018 2:01:35 PM

Recently, nextSource produced webinar together with Azul Partners and Jason Busch of Spend Matters titled, “The Strategic Sourcing of Talent in 2020: Balancing Cost, Compliance and Agility.” It was chock full of high impact ideas and actionable strategies. One of the most interesting segments of the webinar (which you can review here) examined the six critical components of a strategic sourcing initiative. We thought this list would be valuable to our readers, so here is the synopsis.

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Topics: Blog, Procurement Services, Supplier Management, Strategic sourcing.

What It Means to Be a Keystone Partner

Aug 15, 2017 11:01:56 PM

Last week, nextSource announced the winners of this year’s Keystone Partner Awards. This program recognizes those suppliers demonstrating the highest levels of customer engagement and the capacity to deliver the best quality talent. Named for the central building block situated at the summit of an arch which locks the whole arch structure together, the Keystone Partner Award is bestowed upon top performing suppliers without whom, workforce management structures would lack the critical cohesion needed for success.

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Topics: Blog, Supplier Management

Why Vendor Neutrality Ensures Supplier Success

Jul 19, 2017 2:35:35 PM

The role of suppliers in the services supply chain ecosystem has evolved significantly since the advent of the MSP (managed services program). World-class MSPs recognize the critical importance of strong and mutually profitable supplier partnerships when it comes to delivering value and efficiency to their customers. What follows are some best practices to help any MSP ensure strong and lasting supplier partnerships.

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Topics: Blog, MSP/VMS, Supplier Management

The Value of Face-to-Face Meetings with Your Staffing Suppliers

Jun 28, 2017 2:43:59 PM

The human capital business is all about people. So why would you de-humanize the process of supplier management when your success is based on the positive relationships you foster with all stakeholders, from talent to staffing suppliers and everyone in between? The best, most successful managed services programs (MSPs) enjoy true partnerships between the program team and the staffing suppliers supporting the program’s needs. 

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Topics: Blog, MSP/VMS, Human Resources, Supplier Management