Talent and outsourcing services company Yoh (cool name, I know) is going big on managed services with a new partnership with IQNavigator, which produces vendor management systems (VMS).
Yoh could be considered in the business of contingent workers, more commonly known as temps and contractors. And these temps can be a quarter of a companies’ entire workforce.
And because they are not full time, temps can be tough to manage in terms of all the paperwork and data needed to employ them efficiently and legally.
Yoh already has a set of managed staffing services that include VMS. And how exactly is a VMS defined? “Staffing Industry Analysts (SIA) defines a VMS as: an Internet-enabled contingent worker sourcing and billing application that enables a company to procure and manage a wide range of contingent workers and services in accordance with client business rules,” the organization explained.
The main offering of the Yoh Exchange is an SAP-based Web tool that offers “tracking of all orders, approvals, candidates and timecards to provide a single repository for all program management. From status to reporting, the system ensures visibility at all levels and is integrated with all Yoh back-office operations, increasing efficiency and reducing errors,” the company said.
That VMS story is broadened with the help of IQNavigator which also manages contingent labor and consultants and also handles projects and statement of work (SOW).
“The IQNavigator partnership gives our customers added choice and flexibility when choosing a technology solution to accompany Yoh’s high-touch managed staffing services,” said, Lori Schultz, Yoh’s president. “IQNavigator’s single-source platform, global capabilities, and expansive range of features provide larger, more mature customers an additional technology option to match the size, scale and complexity of their non-employee workforce programs worldwide.”
HOT VMS Market
SIA studies the staffing market and recently surveyed 100 MSP and VMS vendors. According to the report, “roughly one-third of global temporary staffing labor is managed either by an MSP or run through a VMS.”
And the use of contingent labor is growing. “Contingent labor allows corporations flexibility in workforce planning as the global economy remains turbulent. Corporations also use contingent labor to “try before they buy” employees. In addition to temporary agency labor, corporations are increasingly incorporating Statement of Work (SOW) arrangements into their contingent workforce programs, SIA said. “To manage these varied types of resources, corporations use VMS and Managed Service Providers (MSP). Staffing Industry Analysts estimates that spend under management through a VMS, an MSP, or both, is greater than $100 billion globally and growing. This compares to the total market estimate for global temporary agency staffing labor of $327 billion,” the research found.
Edited by
Rory J. Thompson