Employees and vendors are crucial for any organisation’s success. If you are working with multiple vendors, then managing all of them at once can be a daunting task. Also, hiring the best talent pool can be overwhelming at times. Further, employees are at the centre of helping an organisation achieve its goals and therefore, it is important to hire the best ones and well within the budget. The best way to get the best employees without going through much hassle is to hire experts to hire! That’s where the best sourcing services play a crucial role.
What Sourcing Solutions Encompass?
Sourcing services in India encompasses expert services in assisting organisations to source the best talent. Further, it also includes efficient vendor management solutions. Let’s dig deeper!
HR Solutions
To minimize the hassles of hiring and retaining the best talent within the organization, most organizations have started availing the sourcing solutions. Here’s how they have enabled the organizations to have the best talents work for them:
- Publicizing Vacancy: This usually involves publicizing the vacancies and sourcing the resumes and CVs from the best prospects. This is followed by thorough shortlisting and evaluation of the candidates to select the best profile.
- Initial Screening: This involves initial screening and assessment of the applicants to determine their potential. This also involves a telephonic interview to get a detailed description of the applicant’s profile and attributes.
- Background and Reference Check: This involves conducting background and reference checks of the candidates to ensure they are the right fit as per the policies of the organization. Important factors in this regard include their last job, previous pay, their performance in the previous job, their overall work experience, their skill sets etc.
- Management: This involves proper planning and scheduling of the interviews of different candidates and completing the entire hiring process in a time-bound and cost-efficient manner.
- Onboarding: Once the candidate clears all the stages of the interview and is selected for onboarding, the job offer is given to the selected candidates and are onboarded in the organization.
- Skill Development & Training: This involves introducing the new joiners to the culture and policies of the organization and providing them with adequate training to get the best out of their skill sets. As the business environment is rapidly changing, it is important that the employees are updated with the latest technologies and systems. Upgrading employees translates into better performance which is crucial for the overall organizational growth.
- Managing Payroll: This involves managing the payroll and compliance associated with the employees and labor force in line with the contemporary legal and regulatory requirements. Some of the crucial factors include processing of employee pay, bonuses, assessing performance, provident fund, employee state insurance, gratuity, professional tax etc.
Vendor Management Solutions
Vendors are often treated as extended partners of the organization. Therefore, it is important to keep your vendors happy. Here’s how the sourcing solutions for vendors can help you with overall vendor management:
- Sourcing Quality Vendors: Having the best vendors can be your competitive advantage. Therefore, it is important to source quality vendors who can not only provide you with the best quality goods or services but also ensure timely deliverables.
- Better Negotiations: Negotiation is not a one-time exercise but a continuous one over your dealings with your vendor. To get favorable terms, you need to have better negotiation power. The quantity of orders you can place, payment terms, credit period, competition etc. are crucial aspects that counts in the negotiation exercise.
- Timely Payments: Timely payments can be the game changer in your vendor relations. If you are able to release the payments on time, then you can build a good reputation amongst the vendors. It also increases your negotiation power and you can negotiate favorable terms with your vendors.
- Dispute Resolution: There can be disputes as to the terms of the contract, payment terms, quality issues etc. that can harm the vendor relationships. It is important to resolve all disputes amicably to maintain a lasting vendor relationship.
FAQ
Sourcing solution is a professional service that revolves around helping organizations source the best human resource, be it internal employees, contract staff or vendors for business.
Outsourcing employee hiring and sourcing can save a lot of time and effort for the organization. Most sourcing organizations have a vast network and pool to attract and provide top talents to their clients.
Organizations providing sourcing solutions can help advertise the vacancies, source resumes, handle initial screening, conduct interviews and assist in the onboarding exercise.
Sourcing organizations can also help you find the best vendors and negotiate favorable terms. Further, in case of any dispute, a best sourcing solution organization can also help resolve the dispute amicably.