Vendor management empowers employers to build specialist relationships with groups of recruitment suppliers and their third party service providers, thus strengthening their businesses as a result. Vendor management is not about negotiating the lowest price possible, longest possible rebate, longest possible payment terms. It is about establishing a quality team that will help your business grow.
Some of the main benefits of having support from a vendor manager are outlined below:
- Share the intimate visions and priorities of your hiring needs.
- Balance your internal resources.
- Work with your vendors on a uniform best practise principal.
- Build long-term sustainable partnerships.
- Understand how your service providers tick.
- Negotiate Win-Win attitudes at all touch points of your recruitment process.
A well managed vendor relationship will result in increased customer satisfaction, reduced costs, better quality and better service from the vendor. Even if problems arise, they can be contained, understood and re-engineered with securities put in place to ensure future smooth running of your recruitment campaigns. All in a way that no other service level, no matter how good, can.
The ultimate benefits of Vendor Management services are obvious, reduced cost of hire, reduced cost of miss-hires, reduced vacancy sign off to on-boarding times and increased effort vs. time invested in any one task.