According to a recent survey, global executives rank supply chain disruptions as one of the top challenges facing their businesses today. This comes as no surprise since supply chain shortages have impacted nearly every industry across the globe. In an effort to avoid, or at least minimize, future disturbances in the supply chain process, businesses are building strategies for developing strong and agile supply chain networks.
Our Randstad HR solutions can help you reach this goal. In fact, the first step to building a strong supply chain process is to ensure your company acquires the right skills and has the right talent in place. Let’s start by taking a closer look at the factors occurring during today’s global pandemic and then discuss the various ways our Randstad HR services can help your company navigate the supply chain crisis.
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factors driving the current supply chain disruptions
Certainly, the global pandemic brought to light just how fragile the global supply chain is. But, the pandemic alone didn’t cause the supply chain crisis, and it’s not the reason this crisis continues to plague companies across the globe.
Today, many supply chain processes are extremely complex and rely on a network of suppliers, distributors and logistics to keep everything in sync. Just one supply chain disruption can cause a ripple effect throughout the supply chain process involving not just your company but also impacting all businesses within the network. For example, the shortage of semiconductor chips cost the automotive industry more than $110 billion and affected everyone from auto manufacturers to car dealerships to consumers.
Several factors are causing instability in the supply chain industry, including:
No matter where your company is based, there’s a good chance it has been significantly impacted by the ongoing energy crisis, either directly or indirectly. Since a large portion of the supply chain involves moving supplies and goods from one location to another, any spike in fuel costs would be damaging. But today’s gas prices are impacting businesses. In the United States, gas prices have risen by nearly 50%. In Europe, fuel costs have increased by as much as 700% in some areas. And, gas prices in China are higher than they’ve been in over a decade.
Fuel prices aren’t the only costs going up. Many countries are dealing with growing inflation that's increasing shipping costs, the costs of supplies and even operational costs. Today, businesses must not only focus on securing the goods and supplies they need, but they must also do so in the most cost-effective way possible.
As discussed earlier, just one disruption in the supply chain can cause a ripple effect. The disturbance of the Ukraine-Russia war is impacting businesses globally. Studies suggest that 600,000 businesses around the world rely on suppliers from Russia and Ukraine, 90% of them located in the United States. With travel restrictions to both of these countries in place and production disruptions due to the war continuing, these businesses are having trouble finding the supplies they need.
These upsets aren't only impacting these 600,000 businesses; they're also affecting all the companies these businesses work with. This ripple effect is causing major disruptions and forcing many businesses to look for alternative suppliers that can provide the same products, quality and costs.
ongoing labor shortage
While some believe that the 'Great Resignation' has slowed, at least for now, the labor shortage continues to grow. One study anticipates that this issue will lead to a global shortfall of over 85 million workers by 2030. This labor shortage has hit the logistics industry hard, with deficits in major roles, including machine operators, packers and truck drivers. For example, the recent congestion at ports across the globe was partially due to the ongoing labor shortage.
The labor shortage isn’t only impacting the supply chain; it’s also making it harder for employers to recruit the workers they need. Naturally, a smaller talent pool can make it more difficult to secure high-quality talent. Without a robust recruitment plan and talent strategy in place, organizations may find it nearly impossible to attract the talent they need for the future.
how randstad’s HR solutions can help
The first step companies can take to mitigate these supply chain disruptions is to build a strong talent strategy and develop an efficient recruitment process that can respond quickly to today’s volatile environment. Our Randstad HR services can help your company achieve just that. Here’s a look at just some of the ways a partnership with Randstad can improve talent outcomes for your company.
securing talent fast
As a Randstad HR solutions partner, you have instant access to our network of prescreened candidates. Our skilled recruitment team can work directly with your company to identify candidates within our network who have the specific skills and experience you require. Although we have an extensive network of talented candidates, there are times when we can’t find the necessary skills within our talent pool. In these cases, we utilize a robust recruitment strategy to attract, engage and acquire the talent your company needs.
As with most of our Randstad services, our HR solutions are completely customizable. Your company can choose exactly what aspects of the recruitment process you want our teams to handle. For example, we can begin the engagement process and screen the candidates, and then your company can conduct interviews for its top picks. On the other hand, we can handle the entire recruitment process from start to finish, including onboarding and training. You choose and we deliver.
No matter what services your company needs, our teams at Randstad can help you hire faster and better. With the right team in place, your organization can put your supply chain strategies into action.
acquiring the right digital skills
Developing a strong and agile supply chain strategy requires having the right skills in place. This factor is especially true when it comes to digital and more technical skills. Not only has the ongoing labor shortage made it difficult for employers to attract quality candidates, but the growing skills gap is making it harder to find applicants with these highly sought-after digital and/or technical skills.
Thanks to our comprehensive pre screening process, our teams at Randstad can connect you to applicants with the skills your company needs. Our HR solutions take the guesswork out of finding candidates with the desired skills, which can give you an edge over your competition. We work with your company to determine the specific skill set you need not only for today but for the future. We then sift through our extensive talent pool to identify candidates with the right skills.
streamline the HR process
With today’s tight job market, time is not on your side. Employers can no longer hesitate when making job offers. Just a day or two delay in choosing the right candidate could mean the difference between hiring the worker you want and settling for your second, or even third, choice. Adding automation to the recruitment process can minimize these obstacles and enable your company to achieve greater hiring results.