We’ve all heard the saying “you get what you pay for” but do any of us follow those words of wisdom all the time? Cheaper prices are tempting because it lets us keep money in our pocket to spend on other things.

Pivotal, crucial decisions are made every day by HR. Human Resources Professionals shoulder big responsibility, especially if they work in the healthcare industry. In addition to the normal burdens of recruiting, hiring, and maintaining a competent, productive workforce, Healthcare HR must deal with a plethora of laws and regulations. Failing to understand them properly can cost the organization big.

It probably doesn’t keep us up every night, but our company vendors are extremely important. They make certain our processes run smoothly, our shelves stay stocked, and we have access to necessities like the internet, copiers, and phone systems.

HR vendor partners are especially important. After all, what’s more critical to organizational success than their human capital?

HR is typically in charge of vendors that include recruiting companies, job boards, Applicant Tracking Software (ATS) systems, background check companies, payroll services, and employee training vendors. This list isn’t exhaustive, but it shows that HR shoulders significant responsibility in choosing vendors that are reputable, dependable, and perform well. Toss in the hundred other projects HR handles and it’s easy to see why thoughtful consideration of every vendor can seem overwhelming. However, if HR makes the wrong vendor decisions, there may be costly and long-term consequences to the company.