To solve labor challenges, update hiring practices

In today’s inefficient and exceptionally dynamic labor market, many employers are struggling to identify, recruit, and onboard all of the talent they need. That’s because most still rely on blunt instruments, such as résumés, referrals, and educational credentials, that are not good predictors of success. The recruiting function can improve its results by learning from colleagues in other parts of the business.

Supply chain professionals, for example, succeed by monitoring market signals relentlessly, matching supply and demand, consolidating demand, and improving supply visibility across their organizations. Marketers influence consumers’ buying decisions and create highly engaging customer experiences based on detailed, up-to-date insights into what customers want and need. While the talent market has some unique features, recruiters can improve their results by applying many of the same approaches.