How do you check or measure the key performance indicators (KPIs) of your vendors? Do you take a pen and paper, jot them down, and tick them off like old school? Or do you type it on a spreadsheet, add a deadline, and add an extra column to mention its progress? Well, whatever it may be, you don’t need to do any of this to check your vendor performance and track their KPI as there is an alternative solution to this. And you will be highly impressed by it.
Let’s get straight to the point and talk about that one successful hack to tracking your employee’s KPIs with the help of Contingent Workforce Management Solutions.
- ESTABLISHING THE KPIS
The most essential above all – establishing KPIs. It is a must to be clear about your expectations from your employee and this has to be done before you finalize the agreement. Nothing from either party should come as a surprise to the other one. Therefore, discuss the achievable tasks, expected ones, and end-of-the-week or month deliverables.
- PERFORMANCE & KPI TRACKER
The performance & KPI tracker allows you to capture data of your vendors in order to create useful metrics. Everything is now on the web and our portal is a cloud-based one. This translates to having Workforce Management Services that will save as well as record each employee’s work, making it easier to track everyone’s performance and check the KPIs smartly.
- RESULTS & ANALYSIS
Tea is incomplete without biscuits, companies are incomplete without employees, and trackers are incomplete without a dedicated page of generated assumptions, right? That’s why we upgraded to the latest technology, spread our tech magic, and brought you contingent workforce management solutions that would track and generate results for your analysis.
- NARROW DOWN THE LISTS
The results you receive are not going to be a simple yes-no/pass-fail thing. It will be comprehensive. This could seem exhausting when you measure a vendor’s KPIs. Therefore you must act smart when you enter the keywords that would define the metrics. For instance, you can use “% of candidates interviewed,” or “Turnover percentage;” whatever fits your requirements.
- REVIEWING KPIS
One thing many forget – reviewing the KPIs annually. You need to make sure if they are still relevant or if they can be increased, should something be decreased, etc. You have to work according to the changes in the market, of your industry. A lot of things change within the organization that may require you to review the key performance indicators. Reviewing the KPIs also makes it easier to view vendor performance.
- TRAIN WITH AN LMS
There may be instances where the employee is unable to adhere to their key performance indicators, what will you do? When you have integrated with Contingent Workforce Management Solutions, you just need to get them on training. You can give training sessions, assessment tests, review tests, and do much more with the Learning Management System (LMS).
Irrespective of the number of suppliers, clients, etc. you work with, everything can be managed on Workforce Management Services. KPIs are just one phase of the entire business challenges that a VMS handles. Who knows this better than FlentisPRO, the best VMS in the USA?
See if FlentisPRO VMS fits your requirements by taking a smooth insightful demo by leaving a message at info@flentis.com or visiting our website www.flentis.com. You would be able to find quite informative articles on our website that can enlighten you and probably assist in dissolving a few queries you already have. There are several case studies describing the challenges our clients faced, the solutions we suggested, and the results post-integration with Contingent Workforce Management Solutions.
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