With the new diversity module, VectorVMS becomes one of a select few vendor management providers offering DE&I tracking within the platform.
BRIGHTON, United Kingdom, Oct. 10, 2023 /PRNewswire-PRWeb/ -- VectorVMS, a leading provider of vendor management solutions (VMS) to streamline external staffing sourcing and management tasks, is reaffirming its commitment to promoting diversity, equity, and inclusion (DE&I) initiatives through its services. The company has introduced a new module in its VMS platform that enables organizations to track candidate diversity within their contingent workforce, during both the sourcing and engagement stages.
While DE&I initiatives are becoming increasingly common within a company's employed staff, the same cannot be said for temporary staff—also known as contingent workforce. According to a survey conducted by Staffing Industry Analysts (SIA), a leading global staffing and workforce solutions advisor, 63% of respondents expect contingent DE&I to become a higher priority due to recent social upheaval.
Marc Husain, Managing Director of VectorVMS, states: "Being able to accurately track, measure, and promote diversity initiatives is hugely important, but until recently, this was mainly a focus for full-time labor. With the growth in the contingent workforce, it's becoming increasingly important for organizations to determine the current diversity status of their non-full-time workforce."
To address this situation, VectorVMS has launched a new module on its platform that enables tracking diversity within the contingent workforce, both in the candidate application and engagement phases. The diversity module features four key characteristics:
- Configurability: It allows companies to choose which individual characteristics to track—for example, ethnicity, disability, and gender.
- Candidate-Paced: It requests demographic information at various stages, giving candidates multiple opportunities to provide this information.
- Reporting: It provides valuable insights into the diversity status of the selection process and suggests potential improvements.
- Privacy Support: It incorporates an anonymity threshold to ensure that reports do not disclose sensitive candidate details.
Furthermore, the module offers a reporting function that provides valuable insights into areas where organizations can enhance their sourcing and engagement efforts. Critically, the reporting function does not disclose specific candidate details, protecting sensitive information.
According to a report by SIA, the most popular strategy for companies aiming to improve DE&I by 2022 was to seek vendors that provide a diverse pool of candidates. Research indicates that DE&I initiatives can enhance decision-making, boost profitability, and make organizations more resilient during economic downturns.
"The release of the diversity module provides a distinct advantage to our customers, as VectorVMS has become one of the few platforms capable of tracking candidate diversity," added Marc.
To see the diversity module in action, get in touch to request a demo.
About VectorVMS
VectorVMS combines innovative and trusted technology with in-depth industry expertise to create specialized contingent workforce programs. Our configurable platform enables organizations to have full visibility into their contingent labor programs, giving them the confidence to maintain compliance, reduce costs and drive efficiency in their extended workforce.
We work closely with clients and partners—drawing on 175+ years of collective experience to combine the right people, process, and technology to design and implement best-fit vendor management solutions.
VectorVMS delivery models are the most flexible in the industry. We empower clients to manage strategic sourcing entirely in-house or through one of our many trusted managed service providers (MSPs). Plus, with our Shared Managed Services (SMS) program, we augment client resources with a team of experienced program managers who provide operational support, white-glove service, and advice on industry best practices.
A part of Learning Technologies Group plc (LTG), VectorVMS also powers a total talent ecosystem that gives clients a holistic view of their contingent and full-time workforce.
For more, visit vectorvms.com.
Media Contact
Jared Orlin, Learning Technologies Group plc, 01273468889, [email protected], https://www.ltgplc.com/
SOURCE VectorVMS
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