Leveraging Technology and Strategy Will Help You Hire in a Competitive Labor Market

The pandemic disrupted labor trends across industries, with companies struggling to fill vacant positions. Labor shortages are most pronounced in retail, manufacturing, leisure, and hospitality, where roughly 70 percent, 55 percent, and 45 percent of job openings remain unfilled. 

Many businesses are reluctant to embrace new technology to solve the labor shortage, but they should be strategic in their hiring practices. With 67 percent of companies reliant on hourly workers set to adopt automated technology within the next 24 months, companies cannot afford to ignore this trend.

The current state of the labor market

As of August 31st, 2022, the hospitality and leisure industry is still down 1.2 million jobs from February 2020. This labor shortage is most pronounced in retail, where roughly 70 percent of job openings remain unfilled. In manufacturing, the shortage is about 55 percent, and in leisure and hospitality, it is 45 percent. To combat these shortages, employers are turning to technology and strategy. Using data and analytics, employers can identify the skills they need and where to find the workers who have them. They also use creative recruiting methods, such as employee referral programs and social media campaigns. These efforts are helping to fill some of the labor shortages, but with millions of jobs still unfilled, more needs to be done.

How technology can help you find the best talent 

In a tight labor market, it’s more important than ever to have a solid plan for finding and hiring the best talent. thankfully, several tools and strategies can help you get the job done. One of the most powerful tools at your disposal is technology. For example, Chattr’s conversational AI can help you quickly screen prospects and identify the most qualified candidates. 

Additionally, online job boards can help you reach a wider pool of applicants, and Applicant Tracking Systems (ATS) can make it easier to organize and track your hiring process. Utilizing these tools ensures that you’re in a strong position to hire the best talent in a competitive market.

The role of strategy in hiring

To compete in today’s labor market, businesses must have a well-defined hiring strategy. This means that management and ownership should be aligned on their hiring goals and effectively communicate these objectives to the rest of the organization. Without a clear strategy, businesses will struggle to attract top talent and may pay more than necessary to fill vacant positions. Furthermore, a good hiring strategy can help businesses to avoid potential legal pitfalls, such as discrimination claims. By developing a comprehensive hiring strategy, businesses can ensure that they can find the best possible candidates for their open positions.

Tips for finding the right candidates 

As the labor market tightens, companies are finding it increasingly difficult to hire top talent. To succeed in today’s competitive environment, it is essential to have a strong recruitment strategy. The following tips will help you find the right candidates for your open positions:

1. Use technology to your advantage. Several online tools can help you reach a wider pool of candidates, and social media platforms like LinkedIn are a great way to connect with potential employees.

2. Be clear about what you’re looking for. When writing job descriptions, be sure to include specific qualifications and skills that you require. This will help to attract candidates who are a good fit for the position.

3. Get creative with your recruiting methods. In addition to traditional methods like online job postings, consider attending career fairs or hosting on-campus recruiting events.

4. Partner with a staffing agency. Staffing agencies can be a valuable resource in helping you find qualified candidates, and they can also handle the initial screening process, saving you time and energy.

By following these tips, you can ensure that you’re hiring the best possible employees for your company.

The future of recruiting and hiring

In today’s business world, the talent landscape is constantly changing. With the rise of new technologies, how we recruit and hire employees has to evolve. To stay ahead of the curve, companies must be intentional with their recruiting and hiring strategies. Technology can play a big role in this process. By leveraging technology, companies can identify potential candidates earlier in the process and connect with them more personally. Technology can also help companies track their hiring progress and performance metrics. Finally, by being strategic about their recruiting and hiring processes, companies can develop a strong employer brand that will attract top talent. Companies that are able to do all of these things will consistently outperform those that are not.

If you’re looking for help streamlining your hiring process, Chattr can assist. Over 67% of businesses reliant on hourly workers will adopt automated technology within 24 months. Our conversational AI platform can help identify qualified candidates and make recruitment easier for everyone involved. To learn more about how we can help, please contact us today.

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