Analysts call direct sourcing “hottest trend in contingent workforce management”
Jacksonville, Fla., August 30, 2022 – Beeline, the leading technology solution provider for managing the extended workforce, is seeing a growing strategic shift toward direct sourcing as Fortune 500 clients continue selecting Beeline and TalentNet’s solution to enhance their contingent workforce strategy. Three of the new Fortune 500 clients include a San Francisco-based ﬁnancial services company, a leading U.S. aerospace ﬁrm, and America’s number one consumer electronics retailer. These clients add to the long list of global brands that trust Beeline and TalentNet with their direct sourcing program.
Direct sourcing enables companies to hire contingent workers from their own private talent pools rather than from third parties and saves significant time and costs. Our direct sourcing clients report an average of 16 percent higher quality talent and 15 percent faster fill times, reducing the average time to fill by 7 days. They also report 16 percent cost savings and 99 percent successful candidate completions per assignment.
“Most companies are facing the most serious talent shortage they have experienced in their history,” said Colleen Tiner, SVP Product Strategy at Beeline. “Today, with contingent talent comprising nearly half of the workforce, and demand for talent increasingly outpacing supply, direct sourcing has become one of the most effective and essential contingent talent acquisition strategies.
Since 2019, Beeline and TalentNet have offered their seamless, fully integrated direct sourcing solution combining Beeline’s industry-leading extended workforce platform technology with TalentNet’s mature, AI-powered direct sourcing platform.
“The focus of our partnership has always been to innovate and drive signiﬁcant value into and across direct source programs, enabling clients to build a curated talent community through their own employer brand,” says Johnathan Prothero, Co-Founder of TalentNet. “With thousands of transactions a day shared between our platforms, clients can build their private talent communities without the added burden of introducing additional technology.”
Direct sourcing is the hottest trend in the contingent workforce space, according to research commissioned by Staffing Industry Analysts. The Staffing Industry Analysts (SIA) Workforce Solutions Buyer Survey reports 78 to 88 percent of buyers expect to put direct sourcing in place or “seriously explore” the solution within two years.
Beeline’s cloud-based platform goes beyond the capabilities of a conventional vendor management system (VMS) to optimize the value external talent can deliver to clients. By linking to strategic workforce solutions offered by a growing best-of-breed partner ecosystem that includes TalentNet, Beeline delivers the robust functionality required for today’s global, complex external workforce management.
Beeline is the world’s largest independent provider of cloud solutions for sourcing and managing the complex world of contingent labor, enabling companies to increase profitability and flexibility by utilizing an agile mix of employee and non-employee talent.
Our software helps procurement, sourcing, and human resources professionals optimize costs, reduce risks, and add value to their services procurement and contingent workforce programs.
We have the deepest, most seasoned team of contingent workforce solution professionals. From our locations around the world, we deliver innovative technology, end-to-end global and localized customer engagement services, and value-added capabilities which help many of the world’s largest enterprises meet their most critical talent needs. To learn more, visit beeline.com.
TalentNet introduced the world to a better way of sourcing in 2013 with the launch of the TalentNet contingent labor direct sourcing platform. Today, direct sourcing is one of the fastest-growing trends globally in talent acquisition. As the technology pioneer in direct sourcing, TalentNet empowers some of the world’s leading brands to provide talent with a seamless hiring experience, while simplifying supply chain complexity and reducing cost.
TalentNet’s mission is to transform how organizations engage and acquire talent. “We won’t stop innovating until all work seekers, regardless of work type or background, are seen equally for what they are…people.” For more information, visit www.talentnet.com.