In today's fast-paced business landscape, one thing is abundantly clear: technology reigns supreme.
In Job&Talent's inaugural survey conducted among companies in Spain, a resounding sentiment emerges. The consensus among business leaders is unanimous: technology isn't just important - it's indispensable, especially in the realm of workforce management.
Close to 100 business, operations and HR experts in Spain participated in the survey. The collective aim? To gain deeper insights into the critical opportunities and challenges facing companies that are managing a flexible workforce in 2024 and beyond.
Key takeaways:
In shaping the trajectory of industries, technology stands as an undeniable force. A resounding 90% of business leaders affirm its current significance in their day-to-day workforce management, underlining its pivotal role in driving operational efficiency and growth.
Amidst the technological surge, companies are faced with distinct obstacles, impacting their bottom line. Key challenges include managing demand peaks, fulfillment rates, and finding the right workers. Here, technology emerges as a potent ally; Refining talent-to-role matching and offering actionable insights into demand trends, tech stays one step ahead in workforce management.
Looking ahead, the main challenge leaders foresee is to continue driving efficiencies in day-to-day operations. The current benefits of leveraging technology in workforce management highlight the untapped potential of tech solutions in achieving end-to-end connectivity in the future.
Read on to find more insights about how technology is revolutionizing staffing, and how companies can stay ahead of the curve by tapping into innovation.
The flexibility challenge
Companies often face challenges when managing their workforce as a result of the dynamic market in which they find themselves. For many, hiring temporary workers makes sense from a business perspective, as it provides cost-effectiveness but also the flexibility that their operations demand. However, managing a flexible workforce comes with its own challenges.
The main struggles companies face are that:
Peaks in demand have become unpredictable, making it difficult to plan personnel and driving up costs.
As a result of that, it can be hard to meet fulfillment rate requirements, sometimes leading to unfilled roles.
The balance between quantity and quality of workers means companies don’t always get the type of talent they need.
Efficiency, retention and absenteeism bite deep
When it comes to the day-to-day management of their temporary workforce, it’s mainly three things that present a real challenge: efficiency, retention, and absenteeism.
60% of companies believe solid worker performance will become increasingly difficult to guarantee moving forward. 59% have concerns about how they can meaningfully engage workers and make sure that top talent stays with the company. And additionally, 55% are worried about high absenteeism rates.
This is where technology steps in as a game changer: by leveraging innovative solutions, both current challenges and future concerns can be effectively addressed. Let’s take a closer look at why and how.
Embracing the transformative power of technology
Nine out of ten business leaders say that technology already plays a pivotal role in their day-to-day workforce management operations, acknowledging its significant role in addressing business challenges.
In day-to-day operations, most survey respondents use technology across various functions. Technology helps speed up recruiting, digitize paperwork, make communication smoother, and improve planning. This smart use of technology brings clear benefits, like faster hiring and better communication.
For instance, companies leveraging planning tools experience a notable reduction in first-day absences and absenteeism. Similarly, organizations using performance management tools report a marked improvement in candidate suitability, underscoring the efficacy of technology in mitigating operational challenges. While further data is required to paint a full picture of these trends, the positive impact observed in areas supported by tech solutions signals a promising trajectory for expanding technology's role in temporary staffing.
Given that efficiency, retention, and absenteeism are identified as key challenges for the future, the untapped potential of integrating technology in day-to-day operations is substantial. Importantly, due to the variety of challenges to be addressed, those solutions that manage to use data transversely across topics and connect processes will create the highest value for businesses.
Technology as an adaptable solution for business challenges
Handling demand peaks: Technology and AI can streamline recruiting processes, making it easier to plan exact personnel needs.
Ensuring high fulfillment rates: Leveraging technology can expedite the vacancy filling process, ensuring positions are filled promptly by allowing for quicker candidate identification and onboarding.
Maintaining high worker matches: Technology facilitates access to a wider pool of talent, enabling organizations to identify and recruit available, high quality and reliable workers more efficiently. Data insights can help to continuously improve the quality of matches, making sure that the best talent is paired with a suitable, open position.
Achieving efficiency: By automating tasks and workflows, technology enhances operational efficiency, enabling businesses to accomplish more with fewer resources. Tools that facilitate shift planning and management can increase productivity and reduce costs.
Fostering worker retention: Technology can aid in creating a positive work environment through communication platforms, training resources, and performance feedback systems, fostering employee engagement and retention.
Mitigating absenteeism: Using technology for swift communication and coordination allows employers to promptly address absences and ensure minimal disruption to operations. Some workforce management platforms even provide real-time insights into attendance and reliability, allowing for instant decision-making.
Looking ahead
As we stand at the threshold of a tech revolution, the future of workforce management in Spain looks promising. By leveraging technology to its fullest potential, companies can navigate challenges with ease, ushering in a new era of efficiency and effectiveness.
The survey findings paint a clear picture: technology isn't just the key to unlocking the future, it's the driving force behind it. As Spain's business landscape evolves, it will be imperative not only to embrace but to prioritize innovation in order to stay ahead of the curve. The keys are in hand, all that’s left is to unlock the future of workforce management in Spain.
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