1. Introduction
This document outlines the process for empaneling vendors to provide staffing services. The goal is to establish partnerships with reliable and qualified vendors who can consistently meet our organization’s talent acquisition needs.
2. Objectives
- Ensure access to a pool of qualified staffing vendors.
- Streamline the vendor selection process.
- Establish clear expectations and service level agreements (SLAs).
- Mitigate risks associated with vendor performance.
- Optimize costs and improve the quality of hired talent.
3. Scope
This process applies to all departments and hiring managers involved in engaging external staffing vendors for temporary, contract, or permanent placements.
4. Vendor Empanelment Criteria
Vendors must meet the following criteria to be considered for empanelment:
4.1 Legal Compliance
- Valid business registration and licenses.
- Compliance with all applicable labor laws and regulations.
- Adherence to data privacy and security standards.
4.2 Experience and Expertise
- Proven track record in providing staffing services for similar roles and industries.
- Years of experience in the staffing industry.
- Specialization in specific skill sets or job categories (if required).
4.3 Financial Stability
- Demonstrated financial health and stability.
- Provide audited financial statements or other relevant financial documents.
4.4 Service Capabilities
- Ability to source and screen qualified candidates efficiently.
- Access to a wide network of candidates.
- Capability to provide value-added services such as background checks, skills assessments, and onboarding support.
4.5 Technology and Infrastructure
- Use of technology and tools to streamline the recruitment process.
- Capability to integrate with the organization’s HR systems.
4.6 Client References
- Positive references from previous clients.
4.7 Diversity and Inclusion
- Commitment to diversity and inclusion in their own hiring practices and candidate sourcing.
5. Empanelment Process
The following steps will be followed for vendor empanelment:
5.1 Vendor Identification and Sourcing
Identify potential vendors through various channels, including online databases, industry associations, referrals, and responses to RFPs.
5.2 Request for Proposal (RFP)
- Develop a detailed RFP outlining the organization’s staffing needs, empanelment criteria, and expectations.
- Distribute the RFP to potential vendors.
5.3 Proposal Submission and Evaluation
- Vendors submit their proposals in response to the RFP.
- An evaluation committee reviews the proposals based on the empanelment criteria.
5.4 Due Diligence
Conduct due diligence on shortlisted vendors, including:
- Verification of legal documents and licenses.
- Review of financial statements.
- Checking client references.
- Site visits (if necessary).
5.5 Vendor Presentation and Interview
Invite shortlisted vendors for presentations and interviews to assess their capabilities, experience, and understanding of the organization’s needs.
5.6 Selection and Empanelment
- Select vendors that best meet the empanelment criteria.
- Notify selected vendors of their empanelment.
- Execute a Master Service Agreement (MSA) with each empaneled vendor, clearly outlining the terms and conditions of the partnership, including service level agreements (SLAs), pricing, and performance expectations.
5.7 Onboarding of Empaneled Vendors
- Provide empaneled vendors with the necessary information, including company policies, procedures, and systems.
- Conduct training sessions to ensure vendors understand the organization’s specific requirements and processes.
5.8 Performance Review and Management
- Establish a system for ongoing monitoring and evaluation of vendor performance against agreed-upon SLAs.
- Conduct regular performance reviews with empaneled vendors.
- Address any performance issues promptly and take corrective action as needed.
- Periodically review the empanelment status of vendors and make adjustments as necessary. This could include adding new vendors or removing underperforming ones.
About us
We are Timus Consulting Services, a fast-growing, premium Governance, Risk, and compliance (GRC) consulting firm, with a specialization in the GRC implementation, customization, and support.
Our team has consolidated experience of more than 15 years working with financial majors across the globe. Our team is comprised of experienced GRC and technology professionals that have an average of 10 years of experience. Our services include:
- GRC implementation, enhancement, customization, Development / Delivery
- GRC Training
- GRC maintenance, and Support
- GRC staff augmentation
Our team
Our team (consultants in their previous roles) have worked on some of the major OpenPages projects for fortune 500 clients across the globe. Over the past year, we have experienced rapid growth and as of now we have a team of 15+ experienced and fully certified OpenPages consultants, OpenPages QA and OpenPages lead/architects at all experience levels.
Our key strengths:
Our expertise lies in covering the length and breadth of the IBM OpenPages GRC platform. We specialize in:
- Expert business consulting in GRC domain including use cases like Operational Risk Management, Internal Audit Management, Third party risk management, IT Governance amongst others
- OpenPages GRC platform customization and third-party integration
- Building custom business solutions on OpenPages GRC platform
Connect with us:
Feel free to reach out to us for any of your GRC requirements.
Email: [email protected]
Phone: +91 9665833224
WhatsApp: +44 7424222412
Website: www.Timusconsulting.com
