Ways Through Which a VMS Can Assist in Reducing Employee Turnover

Have employees been quitting your firm for a variety of reasons? Have you been wondering what can be done to reverse this or avoid this in the future? If this is what you have been thinking about, then we have some reasons and solutions to your thoughts and answers to your questions.

What are the significant reasons for an employee’s resignation? Some reasons are not being heard, not being worked upon, less flexibility at the workplace, no communication/less communication with the managers, etc. But how can these issues be resolved? It is evident that a change in employee turnover cannot be accomplished within a day. Instead, we could help reduce the employee’s reasons to quit gradually with the help of a VMS.

Now you must be thinking, how can a VMS assist in reducing employee turnover? Well, a Vendor Management Software Solution has plenty of benefits, even for employees. Let me tell you how.

1. FLEXIBILITY IN THE WORKPLACE

A VMS System brings in flexibility in the workplace by choosing the type of labor you need. You can have a blended workforce — a team of remote workers, freelancers, part-time employees, full-time laborers, SOW agreements, etc. This allows your workforce to be flexible at the workplace yet give you a hundred percent results for the deliverables.

2. BETTER COMMUNICATION

Everyone wants to be cared about and taken care of. The feeling of the same is the least a team member could ask for. Asking for suggestions from the employees, having a meeting once a week with the entire team, listening to complaints/issues, and working upon them is a way of letting your employees know that everything they mention is being attended to. Communication with freelancers, remote workers, and SOW agreements can be accomplished through an in-built video conferencing tool present on the VMS System.

3. TIMESHEET TRACKER

It is essential to track the number of hours one puts in during their tenure. Most of the time, employees feel that they have been serving their company for more than the basic work-hour schedule and are not being paid for it. Therefore, both parties should keep track of the work hours of a laborer. You can accomplish this with an automated timesheet tracker on the Vendor Management System.

4. AUTOMATED INVOICES

Employees usually work on payroll and expect to get the invoices immediately. When creating invoices, you must manually fill-up the boxes, save them and individually send them to the employees. Well, not anymore. The VMS Portal automatically generates invoices and saves plenty of your time. Hence, the most complex part of your work is taken care of.

Let’s quickly recall the features and benefits of one such Vendor Management System, FlentisPRO. The following are some of the fantastic benefits and features.

· A VMS has an in-built Video Conferencing tool.

· It allows you to schedule your meetings or important dates on the calendar, track them and gives you a notification/reminder when necessary.

· A VMS system keeps track of your employee’s timesheets and their key performance indicators.

· You can simplify the hiring and recruitment processes with the help of the Talent Pool that provides you with top talents.

· The Vendor Management Software Solution is cost-effective when it comes to the onboarding of top talents.

· The VMS Portal is designed in such a manner that it helps you select the best vendor according to your business requirements.

· Smooth performance management is another nickname of Vendor Management Software Solution.

· Training sessions or assessments are better with the Learning Management System (LMS).

· Contracts, documents, and other vital information are present on this centralized platform.

· The platform makes it easier to manage your workforce.

· Everything is cloud-based; hence everything is real-time.

· The Vendor Management System is password protected and is accessible to the stakeholders who have access to this portal.

· The platform is entirely customizable based on your organization’s requirements.

· An Application Tracking System (ATS) helps you track the candidate from their interview till the hiring and beyond.

It is evident that all firms face several challenges throughout their existence. But tell me, can there be any better reason to invest in a Vendor Management System?

With so many plus points in just one software, your business can reach the heights of success. And with the increase in popularity amongst your clients, the potential candidates and top talents would be keen on working with you even on a project basis. Additionally, you would be able to outrun rival companies and get ahead of your competitors. You can have the best talents working for you at your comfort, and your vendor management would be so smooth that you can shift your entire focus to the deliverables. A VMS System surely can raise the bar for you in several ways.

Are you keen on learning more about the Vendor Management Software Solution? Then drop us a simple text saying, “Hi, Flentis!” at our email address info@flentis.com for a quick demo on the platform, or you can visit our website www.flentis.com for more details.

I’m looking forward to your message!