TRR is an employment volatility benchmark that enables real-time predictive recruiting and retention decision making. TRR Scores also position organizations to anticipate and plan for future skill supply and demand gaps. A Harvard Business Review article revealed that candidates identified as “most likely” to be receptive to new job opportunities were twice as receptive to unsolicited recruitment messages and 63% more likely to change jobs, as compared to those who were predicted “unlikely” to be receptive.

5D Profiles predict the optimal candidate-specific workplace attraction characteristics that create maximum job appeal and interest.

These profiles enable employers to tailor recruitment and retention messaging based on the unique attributes most likely to optimize job appeal, including company environment, organizational stability, strength of leadership, and opportunities for growth.

Now Workforce Logiq’s customers have access to unique market rate comparison insights for both Staff Augmentation and Statement of Work (SOW) projects–all at the touch of a button within our VMS.

Our patent-pending innovations leverage a proprietary algorithm that combines Workforce Logiq data with exclusive third-party data sources to calculate and benchmark actual versus market compensation rates. The innovation enables hiring managers to better manage and control costs associated with winning high-quality talent.

The Staff Augmentation Market Rate Comparison tool enables hiring managers to calculate and determine if prospective candidate bill rates are competitive with both local market conditions and actual historic rates for specific roles and geographic locations. These data-driven insights equip hiring managers to better negotiate worker rates and reduce the costs of engaging contingent workers. The patent-pending workflow also calculates a supply ratio of the number of job seekers to open positions in a given region, indicating whether desired target markets are favorable for hiring temporary workers, and suggests alternative metropolitan areas with competitive rates.

Workforce Logiq’s SOW Market Rate Comparison tool enables hiring managers to effectively manage the total cost of engagement with service providers. The patent-pending innovation automatically calculates actual versus benchmarked compensation rates to highlight talent supplier competitiveness, which hiring managers can use to negotiate rates with vendors, drive competitive bidding, set fair project budget expectations, and analyze total SOW-based spend.

Here is an example of a Market Rate Comparison report:

Workforce Logiq’s patent-pending job requisition workflow is designed to guide hiring managers to the correct requisition template that is customizable to and consistent with an organization’s unique hiring policies, including compensation guidelines, using pre-defined questions.

Requisitions may also be tailored to specific industries or geographies to ensure data collection and candidate selection meet regulatory and compliance requirements.

The automated process enables customers to create, manage and approve all requisitions within the Workforce Logiq VMS.  When the appropriate requisition is complete, the patent-pending workflow automatically triggers a requisition-specific approval process–improving efficiency, speed, and performance.

The intelligent, automated requisition solution is available in nine language options to support Workforce Logiq’s global clients.

Workforce Logiq’s patent-pending workflow automates the SOW creation process and centralizes data collection, enabling greater collaboration between our customers and their vendors and increased visibility into project costs, milestones, and deliverables.

The VMS-based solution increases financial safeguards and quality control for clients by automatically identifying SOW discrepancies and locking down the approval process if financial terms change or a stakeholder fails to comply. That means no work gets started until approved budget requirements have been met.

The patent-pending technology is available in nine language options in the Workforce Logiq VMS.