Your PSL Is Holding You Back—And You Don’t Even Know It
Ian O'Callaghan
??We Help Businesses Hire Top global Talent in Payroll, HR & IT ??Reduce Hiring Time by 70% ??Founder of Olympus Talent ??Deel Recruitment Partner ??Leading Voice on Talent Acquisition ??Fractional Chief People Officer
In a rapidly evolving talent market, failing to review your Preferred Supplier List (PSL) for a full year is more than just an oversight—it’s a strategic liability.
Let’s break it down.
Most companies treat their Preferred Supplier List (PSL) like a fire-and-forget solution—set it up once and assume it’s working.
Here’s the reality: an outdated PSL isn’t just slowing you down, it’s actively damaging your ability to hire the right talent.
Long hiring cycles, inflated fees, and underperforming suppliers? That’s not a strategy—it’s a bottleneck.
Yet, many businesses go years without reviewing their PSL
Brilliant comments from a Senior HRBP just last week: "I'm sorry, we do have a PSL, but we don't review it, we've used the same agencies for years", "Our time to hire is about 12 weeks, from instructing the agency to offer" Unknowingly bleeding time, money, and top-tier talent. If you haven’t audited your suppliers in the last 12 months, you’re already behind your competitors who do it regularly.
The Role of a PSL: More Than Just a List
A PSL isn’t just a document—it’s a living, breathing part of your talent strategy. It dictates who you trust to source, screen, and secure top talent for your business. If it’s outdated, your hiring process is at risk of:
? Limited market reach – The best agencies may no longer be on your radar.
? Complacency – Suppliers may assume your loyalty, reducing their efforts.
? Missed innovation – New recruitment technologies and strategies emerge constantly.
Yet, many companies' HR & Talent teams fail to review their PSL for years, leading to slow hiring, inflated costs, and missed opportunities.
So, What Separates the Best from the Rest?
? Strategic thinking: Not just sending resumes but advising on workforce planning.
? Brutal honesty: Telling clients and candidates the truth, even when it’s not what they want to hear.
? Global reach, local precision: Understanding not just who’s available but who’s the right culture fit—wherever they are in the world.
?? When Your PSL Becomes a Problem
A global enterprise client came to us after struggling with their PSL. Their average time-to-hire was 14 weeks, and they were locked into a 25% fee structure—paying a premium for slow results.
Their challenges?
?? Lack of accountability – Suppliers were complacent, with no performance reviews.
?? High costs, low efficiency – Paying above market rate for subpar outcomes.
?? Slow hiring – Critical payroll roles were left vacant for months.
Case in Point: Payroll Hiring Nightmare → 2-Week Turnaround
They needed 20+ payroll specialists, each requiring:
?? 10+ years' experience in in-house payroll systems
?? Expertise in payroll system implementation
?? Subject matter expertise in payroll, tax, and compliance
The Global Payroll Challenge
???? Austria – Senior Payroll Analyst
???? Belgium – Payroll Compliance & Tax Specialist
???? Colombia – Payroll & Compliance Specialist
???? China – Payroll & Tax Compliance Manager
领英推荐
???? France – Multi-Country Payroll Lead
???? Finland – Payroll & Benefits Manager
???? Germany – Payroll System Implementation Consultant
???? Israel – Payroll & Tax Specialist
???? Italy – Payroll Operations Manager
???? Japan – Global Payroll Transformation Lead
???? Netherlands – Payroll Process Improvement Manager
???? New Zealand – Payroll Data & Analytics Lead
???? Norway – International Payroll SME
???? Poland – Payroll Technology Integration Specialist
???? South Africa – Payroll & Workforce Planning Expert
???? Spain – Senior Payroll Compliance Consultant
???? Sweden – Payroll Change Management Lead
???? Switzerland – Senior Payroll Governance Specialist
???? United Kingdom – Global Payroll Strategy Consultant
???? United States – Payroll & HRIS Integration Expert
?? The Olympus Talent Solution
We stepped in and transformed their hiring process:
?? Olympus Talent delivered—hiring all 20+ specialists in just 2 weeks.
? Time-to-hire cut from 14 weeks to under 2 weeks.
? 25% fees replaced with a high-value, results-driven structure reduced to 15%.
? A recruitment process that actually worked and delivered as promised
?? Your PSL Reality Check
If your Preferred Supplier List (PSL) hasn’t been reviewed in over a year, ask yourself:
? Are you still getting real value or just getting comfortable?
? Are your suppliers pushing boundaries or just ticking boxes?
? Are you hiring strategically or just firefighting vacancies?
?? When did you last review your PSL? Drop a comment below, and let’s discuss how to make your hiring strategy work for you—not against you. Let’s have a serious conversation. Don't just sit on the problem, fix it fast!
#RecruitmentRealityCheck #HiringSuccess #PSLReview #PayrollTalent #OlympusTalent