Although the 2021 labor shortage is affecting multiple industries and sectors, it is vital to take a closer look at your own company data to find out its impact on your team. As a reaction to the labor shortage, many companies are jumping into panic mode attempting to solve their staffing issues by offering over-the-top incentives for candidates without really analyzing their predicament. In order to manage and reduce the labor shortage’s impact on your organization, you and your team will need to access and review your specific data and metrics. This analysis will allow you to be better prepared to make decisions that better navigate the situation.
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What Data and Metrics to Look at First?
These deeper breakdowns will allow you the ability to see what the biggest impact is on the bottom line. Prioritizing these symptoms will ensure your solutions have the biggest influence in fixing any issues.
Quantifying the impact that the labor shortage has on your bottom line will allow you to create a clearer plan. You can start quantifying your problem with simplistic relationships, just to get a basic understanding of what is going on. For example:
At Mosaic, we partner with clients to use tools like UKG Dimensions to discover these symptoms and create solutions to combat them. Click here to watch our demo on how to use UKG Dimensions to identify, quantify and start solving staffing and workforce problems.
Now that you’ve identified the profile and skill set of the employees you are looking for, it’s time to get specific in your recruiting efforts. Review your job descriptions and job postings so you can update them with the new information you have. This will make it easier for candidates with those desired attributes to find you, therefore optimizing your recruiting process by saving your hiring managers time and resources used to interview candidates who do not meet your requirements.
As the Labor Shortage is affecting multiple industries and sectors, we need the reminder that there are practical and tailored ways to combat it. With Mosaic, you can start managing and understanding its impact on your organization today! Click here to contact us today.
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