USE TECHNOLOGY TO BUILD AND RETAIN A SKILLED WORKFORCE
American companies are battling the greatest labor shortage since World War II. A record-breaking 11.4 million job openings impede productivity and jeopardize profit margins in small and medium businesses across every industry.
The COVID-19 pandemic amplified the simmering shortage in some industries while igniting a full-blown crisis in others, forcing many small and medium businesses (SMBs) to slash services and hours and shuttering others. In addition, millions of employees left their jobs to care for family members or pursue other opportunities. The Great Resignation also compelled workers to rethink their career goals and priorities, which makes attracting and keeping employees more challenging than ever.
Growing companies must change with the times or risk losing their business. Overall, U.S. companies stand to lose $160 billion in annual revenue due to understaffing.2 Before identifying what attracts and retains employees in their industry, organizations must improve their internal culture and enact proven techniques to keep employees engaged and productive.
The right technology can tackle these challenges head-on by promoting growth, boosting productivity, and strengthening hiring. For example, Acumatica’s robust and connected ERP business management suite optimizes operations and fosters a collaborative, transparent culture that improves employee engagement and performance.
The modern cloud-based ERP system delivers award-winning usability and end-to-end transparency, eliminating bottlenecks that frustrate workers and diminish productivity. In addition, companies can better allocate resources for each project and in their overall operations.
This solution brief examines the seven best practices for countering the labor shortage.
Download it here.
Solution Brief – Proven Strategies for Overcoming Todays Labor Shortage