It’s the Season for – Annual Review of Your HR Suppliers!
The end of the year is the perfect time for you to review your supplier contracts and make decisions about the new year ahead. The world of HR and recruitment is changing faster than ever, and now is the perfect time to take stock of how to fight the battles of the upcoming year. You will need to make sure that you have the right tools, team, and supplier ecosystem in place to make your organization successful next year.
The Supplier Ecosystem is the Ideal Place to Look
Your supplier ecosystem is one of the most important areas to review carefully. For most businesses, suppliers are essential for day-to-day functioning. In fact, the very survival of your business may be in the hands of your suppliers. Often, your suppliers account for more dollars in the budget than any other, and your business competitiveness depends on the performance of your supplier base. It is also one of the areas where you can easily make changes. You can’t change your team overnight, but you can change most of your suppliers.
HR Can Make Significant Improvements
HR can especially gain an advantage by being open to changes in its supplier base. A typical HR leader manages a plethora of critical functions – hiring, compensation, benefits, training, employee relations, EEO compliance, security, safety, and much more. In fact, organizations often outsource many of these tasks to various suppliers in order to keep internal teams focused on core business objectives. The use of external suppliers is widespread in HR, and this gives HR leaders a significant opportunity each year to improve overall business performance by reviewing the supplier base and making appropriate changes.
Benefits From A Change
Organizations that switch suppliers benefit in several ways. While cost savings remains one of the top motivators, savings alone may not the only reason for switching suppliers. Improving the way business is done is a key driver as well. The annual review often reveals problems with the current system, and switching suppliers can give organizations a way to fix problems that were previously unknown. It is also a way to catch up with improving technology, new best practices, and staying in compliance with the changing regulations. HR leaders are often surprised to see how new competitors have come up in the market with better, faster, and cheaper solutions, and the annual supplier review helps them reap these benefits.
Overcome the Fear
Of course, it is natural to worry about the potential hassles, costs, internal politics, and other reasons to justify maintaining the status quo. It is tempting to think “I am all set” and not do anything. But this is precisely the kind of thinking that good HR leaders avoid. They realize that their perception of what is not broken is often mistaken. They realize that in times of rapidly changing technologies and customer preferences, what worked yesterday often won’t work tomorrow. They know that their businesses are not stagnant. Each year the business needs to grow, and needs to be better, faster, and cheaper. Your business needs to stay ahead of the curve. These are the priorities for HR leaders who take their businesses forward.
Changes in the World of Talent Acquisition and Compliance
In the world of Talent Acquisition for OFCCP compliance, a wave of change is underway in the supplier ecosystem. The existing players haven’t done much to improve the processes, technologies, and outcomes instead of charging more and more for the same old way of doing business. However, new alternatives have sprung up that are better, faster, and cheaper. JobFindah is one such option, and it is imperative that you look at our fresh ideas, and the new and improved way of doing things. If you are interested, please click here to learn how JobFindah can help your business reap the benefits of switching suppliers for your OFCCP compliant hiring needs.
Published by Rathin Sinha, Founder and CEO