Businesses are coming out of the pandemic, and this means a lot more stability for organizations in most industries. But as the pandemic winds down, new challenges are quickly emerging for companies, and employers will need to stay on their toes.
According to a study by The Workforce Institute at UKG, there’s good news and bad news for manufacturers in 2021. While more than half (54%) of manufacturers are seeing year-over-year growth as we come out of the pandemic, a growing skilled-labor shortage could throw a wrench in a full recovery.
If you’re like most people, you have a hard time taking a vacation, even when there isn’t a pandemic. It feels like work continually places demands on you that only you can (or should) be responsible for. Getting away, even for a week at a time, is a rare occurrence, and most years you don’t take more than a couple days off at a time.
It’s hard to underestimate the importance of the recruiting and hiring process, because it’s the beginning of one of your most important daily relationships. Yet, most companies confine their hiring approach to the traditional resume-and-interview system. It’s a process that gives very little insight into an applicant’s fit, and almost no insight about your company’s fit for the applicant.
For some nonprofit organizations, the coronavirus pandemic spurred unprecedented giving. For other organizations, funding has all but dried up. In either case, nonprofits are faced with new challenges that they’ve never experienced before, and many are looking for tools to help them adapt more effectively.
In a shaky economy, automation can be incredibly appealing to business executives, but threatening to employees. Automating manual processes not only boosts efficiencies, it cuts down on costly manual errors — and that’s especially beneficial in the realm of payroll. Complex manual calculations are not only time consuming, they’re also risky to your bottom line.
Virtual conferences have arrived, and they probably won’t be going away after the pandemic. They’re cheaper to run, less expensive for attendees, and more convenient to attend. But there are also downsides to virtual conferences: networking doesn’t come easily, you can’t walk up to the presenters afterwards, and the sense of isolation doesn’t go away. There’s also something more meaningful and impactful about in-person experiences that virtual just can’t match.
It’s old news that the economy has been hard on organizations, but you might be surprised how much it has affected your employees. Seventy-eight percent of Americans are living paycheck to paycheck and are financially unprepared for unexpected expenses. That means nearly eight out of ten of your employees go to bed every night worrying about how they’ll pay for their housing and groceries.
A growing number of contractors are starting to outsource their payroll while also keeping their ERP. It’s a trend that we expect to gain momentum over the next several years. Outsourcing can be a smart move, but it opens up new issues: HCM systems aren’t designed to handle the payroll complexities that contractors deal with on a weekly basis. And they don’t integrate nicely with ERP systems.
The pandemic has not been kind to businesses, and it has left many owners looking for reliable models to help them get through the crisis in one piece. IDI has been fortunate to not only remain stable during the pandemic, but to continue growing. In 2020, we:
