Is Partiality Compromising Your Vendor Selection Process?

No matter what your industry and profession may be, at some point you find yourself faced with a choice between vendors. Having been both decision maker and vendor countless times through the years, I learned to accept that partiality was inevitable in many, if not most final selections.? As leaders, we often find ourselves suffering? through lengthy procurement and RFP processes, expending significant resources, only to have the predetermined decision finalized.?

While we are often required by corporate policy to execute a formal RFP process, and limit it to vendors approved through a procurement department, partiality often determines the end result. While seemingly innocent on the surface, these outside influences can be detrimental to the long term success of your organization.

Is partiality compromising your vendor selection process?? Here are few signs to look for:

Gifts- Sure, everyone likes free stuff, and in the sales process, entertainment and merch (promo merchandise) are some common tools in the toolkit. Some companies go as far as to forbid leaders from accepting gifts of any kind in the sales process, while others will actually demand gifts from their vendors. If high value gifts are received from current or potential vendors, your selection process is being influenced.

Relationships- It is important to maintain a strong vendor-client relationship. Regular communication, honest and open conversations, goal sharing, and collaboration should be valued by both parties.? When those relationships turn into friendships is where reason gets impaired.? If vendors are taking leaders out for dinner every week, and showing up at their weddings, birthday parties, kid’s graduations, etc., fair decision making is suspect.

History- Be mindful of leaders who choose the same vendors while at multiple employers and in different industries.? While a particular vendor? might provide the best solution? for the current situation, it is highly unlikely that the same vendor or a group of vendors can be the best solution every time, and in every industry.

Why is partiality a problem?? Given that technology, economics, trade, consumer habits, fashion, and many other influences are in a constant state of flux, the needs of your business change too, impacting the value that each vendor represents at any given time.? Consider the value that a DVD envelope manufacturer brought to Netflix in 2002 compared to today.? As leaders it is our responsibility to ensure our organizations partner with the vendors that position our companies for success.? In many cases the vendors we choose will determine the level of innovation and growth of our business. There is no place for partiality in vendor selection, other than the benefit of not having to endure the many unpleasantries of changing vendors.?

As leaders it is our responsibility to ensure our organizations partner with the vendors that position our companies for success.

Proper vendor selection in your talent acquisition department can cost your organization dearly through? increased ad spend, low conversion rates, failed compliance, and high turnover.? Low quality vendors can also inflict significant damage on your employer brand, and overall reputation.? Choose vendors that focus on delivering a great product and/or service, rather than a bunch of freebies, and a cool wedding gift.

If your company is in need of a strategic recruitment advertising and employer branding partner? that wants to earn your business, I’d love to hear from you.? Remember to share, and subscribe (if you have not already) to the Monday Minute. Click Here to Subscribe

Have a great week in recruiting!

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