22 Nov 2021
ArticleIn the previous years, numerous factors affected the global supply chain. Such occurrences impacted logistics, stifled fulfillment, and caused delays on the delivered goods. Also, it resulted in fewer jobs and sluggish business performance.
Last March 2021, only 40% of freight transport all over the world arrived on time, which is way lower than the previous year. This is a huge concern as a bad supply chain affects economic activity. These delays caused the inability to deliver products on time.
Delayed production means loss of sales and customers. In addition, diminished customer satisfaction leads to negative social media posts, which causes business reputation decline and, eventually, lost revenue.
The Impact Of Covid-19 on Supply Chain
Since Covid-19 remains a live threat, forcing several regions to lockdown, bring in more security, and have tighter check-points, the impacts of this event remain visible and can be seen in the supply chain.
Many countries have been locked down, thus delaying the supply of goods to other regions, causing customer dissatisfaction with those willing to buy from these regions. This resulted in business interruption for some industries but harmed the supply chain overall.
Around 94% of Fortune 1000 firms have noticed supply chain disruption since the pandemic started. Moreover, 75% of these companies suffered from the negative effects of Covid-19.
These are terrible figures for a global economy that is just recovering from the previous world war.
What does it mean for the recruitment industry?
With the recent statistics, continuous supply chain disturbance, it is no wonder that employers have been looking for ways to improve their recruitment process and performance.
The speed of the logistics industry is one of the significant challenges faced by companies in the supply chain, which leads them to be in a state of chaos, as they are unable to deliver goods where they are yet needed.
Business leaders must know how to navigate the operational and financial challenges of the pandemic while finding the solution for the needs of the customers, manpower, and suppliers. With this, the supply chain will function efficiently, making businesses competent in the market.
As the supply chain players scramble to find solutions, the recruitment industry is called upon to help. But how can they do it?
When there are disruptions in any field, especially in supply chain and logistics, it means limited supplies of products. Recruitment teams must work within a tight deadline when there are limited or no applicants at all available for them to hire.
Although this may sound impossible, recruitment teams can make their performance better by simply maintaining their hiring process and exploring the use of new technologies to help them.
In case there are no available applicants, recruiters can rely on social media recruiting. This has been proven to be effective as a source of recruitment and has been used by several companies in the past.
How to Increase turnover
If employers can still not cope with the supply chain disruptions, recruiters can increase the turnover by helping their clients adopt a better hiring process.
Companies that don't have a good hiring process may find it hard to fill vacant positions and resort to summary or informal recruiting. This can result in lower productivity and standard employee engagement.
To help them enhance their hiring systems, they need to identify effective ways to reposition the firm for business growth. It will enable them to attract the best talent for their firm.
They can do this by implementing better communication among the employees and their company's leadership. This will enable them to improve their culture, work environment, and company vision. Through this, they will be able to have a more effective hiring process that can help them recruit new talents at any time of need.