By 2020, the technology, media, and telecommunications (TMT) industries may be short more than 1.1 million skills workers, globally, according to Korn Ferry’s Future of Work: The Global Talent Crunch report.
More than likely, the impact of this shortage is already impacting your IT staffing firm. Unfortunately, the shortage is only set to grow. Fast forward to 2030 and that deficit may reach a devastating 4.3 million.
These high shortage numbers may be one of the reasons your firm sources talent with the help of third-party vendors. Unfortunately, they’re often looked at as the ‘necessary evil’ of the staffing world. Luckily, there’s a way to lessen the negative connotations associated with them. The key to decreasing frustrations, ultimately, increasing profits revolves around having the right resources.
That’s where vendor management systems come into play. For example, each feature we offer at iLabor intentionally tackles the challenges IT staffing firms face when working directly with third-party staffing vendors.
Here are five things IT staffing firms need when working with third-party vendors: