When the pandemic hit, so, too, did many layoffs across the country and beyond. Companies struggled to stay afloat, and the coming years brought an unexpected labor shortage that’s still pursuing even as we head into 2023. Of course, the Great Resignation didn’t do businesses any favors. Knowledge workers have taken it upon themselves to look for companies that offer the kinds of things they need to be fulfilled in a role, rather than just accepting a job so they can have a paycheck. For companies that were unable (or unwilling) to pivot and meet these needs, the task of attracting and retaining top talent has become an uphill battle, often leading to candidates going to competing firms that can deliver to their expectations.
Today, companies in all industries are fighting to find workers to fill open positions. The healthcare, transport, hospitality, social assistance, and food service industries were particularly hit hard, although it seems no industry really escaped unscathed. Companies need to stop searching so hard to find people to fill the labor gaps and invest in the talent and resources they already have. In doing so, the high cost of turnover will be diminished, and great candidates will be knocking on their doors to work there.
So, what can your organization do to attract and retain great talent? Read on!
1. Stretch Your Flexibility
High-quality candidates now demand more flexibility in their work structures. There has been an ongoing tussle between employers and employees as workers have begun to fight for more flexibility and improved work-life balances. Employees want greater control over their work locations and are often unwilling to tolerate lengthy, frustrating commutes to the office every day. In fact, an overwhelming majority of today’s workers are willing to leave inflexible employers in favor of their competitors who do offer flexible hours and office locations.
If your company doesn’t offer hybrid or full-remote opportunities for knowledge workers, it’s time to make a decision. Do you want to have it your way? Or, do you want to fill your company with the greatest minds who will contribute to the growth and success of your organization?
2. Re-evaluate Your Values
Today’s workers are now more intentional about working in roles that give them a sense of purpose. In a survey conducted by Indeed.com, 92% of respondents who voluntarily left their jobs during the pandemic did so because they were in jobs that didn’t fuel their passions.
Your company’s culture and values say a lot about the type of candidates you’re likely to attract. If you’re experiencing high turnover or attracting low-quality candidates, it’s time to look internally. Nurture your company culture by regularly evaluating employees’ and candidates’ perceptions of your firm. Focus on providing an optimal employee experience; this will ultimately boost productivity and collaboration. Face-to-face meetings are no longer considered essential by most workers, so you need to look intrinsically to figure out what your employees really value, then build your culture around things that use those values as a foundation for success.
Along the same lines, it’s important to be mindful of the point we made above—employees want to have a sense of purpose in their work. They’re actively seeking out employers with socially responsible cultures and missions.
If you don’t already have a great cloud-based ERP system in place, consider the fact that an implementation of such a solution can empower clear-multi-channel communication while integrating diverse business and collaboration applications in a single, centralized platform.
3. Show Your Stuff
Great workers want to be able to see what you have to offer long before they actually give you their valuable time in an application and interview process. Companies like Concept3D have revolutionized recruitment by offering 360° virtual tours that allow companies to showcase their physical spaces, cultures, and employee testimonials in an immersive-yet-online way. This type of tool lets your potential applicants better understand what your company is all about long before they endure the application and interview processes.
Invest in a virtual tour so you can answer “day in the life” questions your potential candidates might have. Show them what life will look like in your company and let them experience what it will be like as an employee for your organization, so they get excited about moving forward. Invite passionate employees to share in the experience of building out your tours so they feel included in the process and showcase the best and brightest aspects of your company.
4. Embrace Technology
As we’ve already eluded, having the right technology in your toolbox can really enhance employees’ and candidates’ experiences with your organization. Poor systems can cause frustration and bottlenecks, while great solutions can enhance satisfaction and productivity. Employees need access to the same information they need at home as they’d have onsite. If you don’t offer level capabilities, no matter where your employees are, they’ll leave for greener pastures.
Ensure that your technology is top notch and accessible, no matter where your workers are performing their duties. This means investing in a cloud-based infrastructure that houses essential data, as well as providing workers with multiple monitors, Wi-fi, printers, and anything else they need to improve their remote working experiences.
5. Work with MIBAR
Our team at MIBAR offers you software experts who can enhance employees’ workspaces, whether they’re onsite at the office or working from their living rooms. We’ll provide you with powerful software solutions and knowledgeable guidance, ensuring you implement software tools that not only work best for your industry, but also work best for your unique company and the people who power it. Learn more about our solutions today!
An eBook for Growing Companies Seeking to Strengthen their Workforce
Attracting and retaining talent in these unusual circumstances is challenging, but there are ways to battle the crisis, including using modern technology, like Acumatica’s cloud ERP solution.
In our Beat the Labor Shortage and Build a Better Future eBook, learn:
- The cost of a sustained labor shortage (and which industries are affected the most).
- How to attract—and keep—employees.
- Why reimagining the workplace culture is key to employee loyalty.
- The role technology plays in mitigating the labor shortage crisis.
- How targeted industry solutions drive results.
Click here to download now.
Combat the Labor Shortage with Acumatica and MIBAR
Acumatica’s modern ERP solution attacks the labor crisis on several fronts. Acumatica can forecast and help plan labor needs and reduce headcount dependency by automating processes. The platform also improves employee engagement with an intuitive, collaborative system. The cloud-based platform delivers transparency across the global enterprise and ensures all users can access the real-time and historical data they need anywhere at any time. Integrated workflows also engage employees by connecting the dots between related functions and demonstrating the value in the user’s activities. Meanwhile, artificial intelligence with machine learning automates manual tasks so users can focus on strategic work. Robust dashboards and automated alerts push critical data and activities to users.
Contact the Acumatica experts at MIBAR today! Whether you’re looking to combat the labor shortage or need a complete overhaul of your processes, we’ve helped companies just like yours to discover, implement, and optimize Acumatica.