America’s worker shortage is far from over. Currently, there are more than 11 million job openings across the US—nearly twice as many as there are candidates available to fill them. In fact, the Labor Department’s “participation rate” (the percent of the civilian population either working or seeking work) remains lower than before the COVID-19 pandemic and significantly lower than a decade ago.
However, there is a solution to this issue, and it involves the UKG Marketplace. Read on to learn more about how UKG (and a variety of other companies) are doing their part to help.
Meeting Workforce Demands with UKG
To meet today’s workforce demands, organizations need to evolve their strategies for recruiting and retaining employees. The good news is that companies are teaming up to help ease these challenges for businesses. More specifically, UKG has introduced new technology partners focused on hiring, developing, and retaining employees to the UKG Marketplace.
In a recent article, we covered how UKG and Uber were teaming up to offer employee incentives through the UKG Marketplace. (If you’ve not read it yet, be sure to check it out.) In this article, we’ll go over some of the new applications in the UKG Marketplace that help organizations navigate labor shortages.
Finding the Right Candidate
Hiring can often seem like waiting for the stars to align. You need to find the right candidate, who has the right skills, all at the right time. But thanks to some new applications within the UKG Marketplace, you no longer need to have a part-time astronomer on staff. Here are a few apps that can help take some of the randomness out of the candidate sourcing process:
Applecast
Provides programmatic job advertising software to help employers, recruitment and staffing firms, ad agencies, and job sites to attract high-quality job seekers.
CareerBuilder
A trusted source for job opportunities and advice.
Phenom
An artificial intelligence platform to help companies hire, develop, and manage their employees.
Paradox
Conversational recruiting software that allows candidates to apply for jobs via chat or text messaging.
Accelerate the Hiring Process
Many organizations are losing candidates to competitors because of the time it can take to conduct interviews and finally extend an offer. UKG has teamed up with partners to help shorten that timeline. With a suite of tools and technology available from Cangrade, Harver, and Humantelligence, organizations have loads of options to choose from when it comes to solutions that can ensure job fit, access data-driven assessment, and optimize the hiring process.
Maximizing Compensation
Pay equity is one of UKG’s major social initiatives. In a previous article, UKG Announces Its Close the Gap Initiative, we shared how they’re working to close the pay gap. Now, they’ve added several partners to the UKG Marketplace to help other companies follow suit.
Trusaic’s PayParity, for example, provides companies with an enhanced pay equity auditing solution with real-time equity analytics. It also complements existing pay tools within UKG’s toolkit. HCR Software’s CompXL gives compensation professionals access to the latest compensation and incentive modeling.
And don’t forget that there are other ways to offer employees financial wellness benefits. Vault, for instance, allows for student loan repayment strategies and counseling, making it easy for employers to make repayment contributions.
Leveraging the Partner Ecosystem of UKG
“With more than 250 overall partners, UKG actively collaborates with solution providers that play a critical role in our customers’ IT infrastructure to simplify the employee technology experience,” said Mike May, vice president of technology partnerships at UKG, in a company press release. “By leveraging our open-platform architecture, we’re able to help UKG customers become even more responsive to the constantly changing needs of both their people and their businesses, especially during the labor shortage.”
Whether you need help with a particular UKG solution or you could use a hand leveraging all the exciting applications that enhance and extend your setup through the UKG Marketplace, we have the perfect consultant for you. Our senior-level UKG consulting team specializes in all things UKG, from implementation to optimization and everything in between. Contact us today to get started.
