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Blog

What is a VMS?

Mar 27, 2020 1:18:02 PM

A VMS or Vendor Management System is a web-based software application designed to support the procurement and management of staffing services – including temp staff, outside contract or contingent labor – for mid-sized to large businesses and other organizations. VMS solutions enable the effective management of contingent workforce hiring processes from one, easy-to-use platform. A VMS streamlines and automates every step involved in the sourcing, acquisition, management and payment of contingent labor. VMS is used either by internal workforce management/HR users or by an MSP team on behalf of their client.

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Topics: Blog, Procurement Services, Workforce Management, temporary staffing, Technology, Mid-market, Independent contractors, VMS

20 Trends that Will Shape the Next Decade: Part Four – Technology Trends

Mar 12, 2020 1:35:37 PM

Part Four of a four-part series on the future of work and the developments impacting contingent workforce management focuses on “the ubiquity of technology”. This series continues to identify select perspectives contained in the comprehensive “2020 Report – 20 Trends that Will Shape the Next Decade” and other corroborating sources.

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Topics: Blog, MSP/VMS, Human Resources, Workforce Management, Technology, Gig Economy, Mid-market

Projection 2020 – The Year of the “Employee Experience”

Dec 31, 2019 11:14:05 AM

As the decade draws to a close, workforce management professionals are bracing for what promises to be another “roaring twenties” as the global workforce continues to undergo rapid change and evolution. nextSource experts have been reviewing dozens of sources of data and opinion on what the New Year and the new decade have in store. There seems to be one, prevalent theme wending its way through contemporary thought regarding the seismic changes in labor markets: Employee Experience. Here is the evidence supporting the idea that 2020 is going to be the year of employee experience.

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Topics: Blog, Best Practices, Workforce Management, Technology, Gig Economy

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.

nextSource Blog Retrospective for October and November

Dec 6, 2019 10:12:44 AM

The nextSource Blog is your one-stop shop for incisive industry perspectives, best practices, innovative ideas and overall thought leadership on all things relevant to workforce management.  Today’s post will look back over the last few months of posts to provide a brief synopsis of all the hard-hitting and valuable content this blog has been producing consistently for years. 

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Topics: Blog, Statement of Work, MSP/VMS, Procurement Services, Workforce Management, Technology, Retail, Gig Economy, Retrospective

The Implications of AI in Candidate Interviews and Other Workforce Activities

Nov 27, 2019 1:17:43 PM

It is a brave new world out there. The latest giant leap for mankind as it relates to the human capital world is the application of artificial intelligence or “AI” to the process of candidate interviews. If you find it unpleasant to speak to the automated voice used by increasing numbers of customer service call centers, you’ll probably hate this. But AI has grown sophisticated enough to be effective at candidate screening and the cost benefits of automating this process will likely be too enticing to pass for larger hiring organizations. Take heart though, there are still rules and ways to avoid the worst downsides of this new development.

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Topics: Blog, Human Resources, Workforce Management, Technology, Strategic sourcing.

What is the Gig Economy, and Should I Introduce it to My Organization?

Nov 20, 2019 11:16:31 AM

nextSource recently had the opportunity to address the HR Alliance in Washington DC. The topic that was on the minds of many in the audience was the Gig Economy. The audience was seeking to understand this mushrooming new labor channel.

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Topics: Blog, Human Resources, Workforce Management, temporary staffing, Technology, Gig Economy, Strategic sourcing.

Which KPIs Should You Track for Your Contingent Workforce Program?

Aug 8, 2019 1:01:47 PM

You can’t manage what you can’t measure says the old business axiom. This is why performance minded managers employ key performance indicators or KPIs to help quantify critical aspects of performance in all areas of their business. For contingent workforce programs, there are common KPIs most frequently correlated with workforce management success. Knowing which ones are the most effective is a question frequently encountered by nextSource experts. So, let’s talk a bit about KPIs and how to select the ones best suited to driving success across your contingent workforce operations.

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Topics: Blog, Human Resources, Best Practices, Technology