HR Glossary

What is Vendor Management?

The process of selecting, contracting, monitoring, and governing relationships with external suppliers and service providers to maximize value, minimize risk, and ensure delivery against agreed terms.

Why it matters in hiring

Vendor Management comes up whenever teams compare candidates, set policy or report on people data. Getting the definition right keeps decisions consistent, which is the same reason springhire scores every applicant against the same criteria rather than on impression.

Related terms starting with V

• Variable Pay
• Vesting Schedule
• Video Interview
• Virtual Instructor-Led Training (VILT)
• Vision Insurance
• Virtual Instructor-Led Training (VILT)
• Values-Based Leadership
• Verbal Warning

Part of the springhire HR glossary, 1,150+ HR, payroll and recruiting terms defined. Free, no signup.