How Contract Management Will Shape The Staffing Industry in 2024

The introduction of AI tools has improved staffing processes by streamlining candidate prospecting, communication, and selection, allowing recruiters to focus on the impact they have with every interaction, rather than other managerial tasks.

However, there’s still a lot of room for the industry to adopt solutions that can further refine a candidate’s roadmap. These solutions can take care of operational tasks like AI-powered contract management tools, which could further slash administrative burdens and boost accuracy. It only remains a matter of time before a second AI golden age takes over the staffing industry.

So how can contract management help with this change?

Adopting Automated Solutions

The staffing industry is a clear example of how generative AI models have streamlined processes and changed the way organizations perform tasks. They alleviate much of the load workers have and refocus their efforts in more impactful ways. AI tools help with tasks such as:

  • Creating job descriptions
  • Prospecting candidates
  • Screening applicants with ATS software
  • Sending automated and personalized messages
  • Streamlining candidates’ journeys

In the realm of contract management, for example, pre-approved clauses can considerably reduce the amount of time and manual labor associated with drafting individual contracts, giving legal departments some breathing room to focus on compliance and liability management.

Concrete Solutions

Beyond content-related solutions, the adoption of a CLM can help in reviewing, negotiating, and executing contracts with clients and candidates, as well as manage the performance and compliance of these contracts throughout their lifecycle. Here are more examples of these benefits:

  • Cost reduction: Time is money, and if there’s something that automated contract solutions excel at, it is reclaiming the labor force often assigned to manual processes.
  • Room to scale: With greater bandwidth, staffing organizations can take in more candidates, business, or strategic growth.
  • More security: A centralized way of tracking contracts and changes allows legal departments to have more ownership over the cybersecurity aspect of their documentation.
  • New frontiers: Contract management facilitates the adoption of new legal frameworks for organizations to expand beyond their borders, considerably growing their business.

As in any industry and with any solution, first adopters will always enjoy a considerable jumpstart. Adoption of contract management solutions is starting to ramp up and 2024 may prove to be the year of a second AI revolution among staffing companies, where generative AI optimizes the candidate selection and search process, as well as the operational and business side of the equation.

Zeal aims to be that catapult for staffing agencies that want to stay ahead and want to implement effective and efficient contract management solutions.

Schedule a demo today.