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The COVID-19 pandemic may seem like a distant memory, but it continues to impact how businesses run their business and attract talent. Organizations of all sizes struggle to manage such a shift in employee and hiring expectations. Small-to-midsize businesses with smaller human resources departments are particularly vulnerable to staffing difficulties. Still, most United States-based businesses share the same concerns about getting the right people to do the job. According to a recent survey:
With these statistics, it should be no surprise that businesses are focusing on using AI to make it faster and easier to find the correct candidate.
As technology evolves, HR departments can look for more opportunities for virtual and augmented reality onboarding. In addition, HR departments will get better AI chatbots to offer instant assistance and personalized onboarding and training packages. Learning in these virtual environments has been proven to improve knowledge retention and, in the case of a remote workforce, can improve employees' connectedness to their coworkers and company.
The time and expense of replacing an existing employee is much greater than what it would likely take to retain your best employees. Consider annual incentive bonuses that give your employees goals to think about every day, week, month, and year.
If you wait until you have an open position to start the hiring process, you’ve waited too long. In this environment, you need to be continually building a candidate pool. Attend local industry events, contact well-established professionals, ask for connections, and tap your employees for referrals.
How well does your employment process compare to your competitors'? If you don’t know the answer, consider having a third party test it to reveal your strengths and weaknesses. If your time-to-hire is too long, with too many rounds of interviews, you could lose your best candidates.
Enterprise resource planning (ERP) software integrates all your vital applications into a single centralized solution. When everyone has access to and contributes to real-time data in one repository, they spend less time locating information, entering data, and carrying out their responsibilities. Time is not wasted with redundant data entry or integrating data from disparate applications. Files don’t have to be shared by gatekeepers through email or logging into separate applications, and time wasted by information delivery has become a problem of the past.
Have you gradually increased your wages by a consistent percentage each year? You may be surprised to find that with inflation driving wages up, your compensation packages have become less competitive. Research competitors in your industry and region to ensure that your pay is on par with comparable positions.
Not long ago, prospective employees wanted to know that there are paths to promotions within your organization. A quick explanation of your hierarchy would suffice. Today, top candidates want to discuss a career advancement plan, including several possible tracks up the leadership ladder, as well as professional and skill development opportunities along the way. If you don’t offer career growth planning, you could be missing out on top talent.
Editor’s Note: This post was originally published on Jan 3, 2022, and has been revamped and updated for accuracy and comprehensiveness.