A strong leadership commitment is needed to launch a Robotic Process Automation (RPA) program. Yet, given the high infrastructure cost and resources required to demonstrate success, this can take time to accomplish. Many business executives are aware of the benefits that RPA can offer. The decision often lies squarely on whether or not to invest in the conventional in-house RPA model. However, for leaders who require fewer upfront resources...
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In today's competitive business landscape, automation has become a popular buzzword for companies looking to streamline operations and reduce costs. However, intelligent automation is taking it further by combining artificial intelligence, machine learning, and robotic process automation (RPA) to optimize processes and decision-making. This article will explore the basics of intelligent automation, its benefits, and what you need to know to stay ahead of the curve. The...
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The occasional help-wanted sign at a local fast-food joint or clothing store is nothing new, but with the current state of the labor market, they seem to be a permanent fixture. Companies across the country are bemoaning their inability to hire and retain workers. What’s worse for those businesses is that customers are experiencing diminished service and long wait times as an add-on impact of the...
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In April of 2021, the number of workers who quit their job in a single month broke an all-time U.S. record. Then, it broke again in July and August, leading economists to label it the “Great Resignation.” As a result, job openings are now at an all-time high, and many are going unfilled for months. Meanwhile, the global supply chain is experiencing an abnormal number of...
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U.S employment statistics hit a new milestone last year, but not a positive one. In August 2021, almost 4.3 million workers quit their jobs, according to the U.S. Department of Labor. That's the highest number since the department began tracking voluntary resignations. While the reasons for quitting vary, one thing is clear: Businesses are having a tough time getting employees to come back. 80% of companies...
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The US insurance industry is facing a talent crisis. Research suggests that: The industry is hiring at record levels, but the most significant challenge companies currently face is securingnew talent, according to the 2018 Insurance Industry Employment and Hiring Outlook Survey. Employee retention among millennials is a problem for the sector. They are estimated to remain in their jobs for just 12-18 months on average. A new approach to...
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Addressing Healthcare Staffing Shortages with RPA Healthcare staffing shortages for clinical and non-clinical positions are creating significant challenges for the healthcare industry, and the COVID pandemic has exacerbated the issues in numerous ways. The pandemic put healthcare systems and workers under enormous pressure. However, with the spotlight cast upon it over the last few years, it is now racing to embrace new technologies that will help accelerate...
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Robotic process automation (RPA), which streamlines some tedious, non-document-focused processes restricted to work that occurs on computer screens, has been the main kind of automation up until this point. Unfortunately, their abilities are limited to jobs that don't require complex judgment. A relatively new category of automation called "intelligent document processing" uses artificial intelligence (AI), machine learning, and natural language processing to help businesses handle...
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When businesses want to grow their employee headcount, it's typical to hire locally — post job ads, work with recruiters, and conduct interviews with the top applicants. But it's simpler said than done. Today's severe labor crisis has forced an increasing number of businesses to rethink their hiring choices. As a result, business strategies including "offshoring," "nearshoring," and "outsourcing" are becoming more and more prevalent. In this article,...
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Labor shortages aren’t new, but the current one has substantially affected the local economy, with the current labor shortage continuing to increase, along with rising unemployment rates as employers struggle to hire and fill understaffed workplaces. The continuing labor supply shortage has led to higher labor costs, steeper inflation, and supply chain disruptions severely impacting many industries. All of this adds up to one thing: Workers...
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