Where Did All the Data Entry
Candidates Go?
If you are struggling to hire data entry roles to help
you extract data from documents, please take
comfort in the fact that you are not the only one.
Businesses and institutions of all sizes, including
the IRS, are struggling with an acute labor
shortage.
What Happened?
This article was published in April of
2022. To understand why there is an
acute shortage of labor for this role,
you will need to read another article
from the same month:
With the
Great Resignation
There has been an acute shortage of
technical talent available for entry-level
Tech Jobs. To combat this, technology
companies have responded by hiring
people from lower, minimum-wage jobs and
providing them with extensive training and
support to perform entry-level tech jobs.
Now What?
This shortage of data entry workers has
put most financial services companies in
a bind. While it has been traditionally
challenging to retain people in this role,
this double whammy of lack of supply of
new resources to replace the ones
leaving has added to the woes of the
operations managers.
Challenges
and Solutions
As an operations executive, you must
deal with three challenges to tide over
this crisis:
• I cannot hire more people.
• When someone leaves, my
productivity takes a hit.
• I need to prepare for more people
leaving this role over time.
Challenge 1: I cannot hire more people
Solution: Increase work capacity without adding more
people. Intelligent Document Processing (IDP) systems
are such iron suits for your team.
Challenge 2: When someone leaves, my productivity
takes a hit
Solution: Retain the knowledge when a person leaves.
Machine Learning is the pensieve that can help you retain
knowledge from your old staff by automatically learning
from their every action on a data entry job.
Challenge 3: I need to prepare for more people leaving this
role over time
Solution: Get on an efficiency-increasing treadmill.
Feedback-based continuous learning loop is the replication
algorithm for the data entry work.
Conclusion
Do not become an automation casualty.
The labor crisis of today offers a unique
window of opportunity to try out
AI-enabled automation. Grab this
opportunity and let it help you deal with
the labor shortage of today.
THANK YOU
To know more, visit:
https://www.infrrd.ai/blog/where-did-all-the-data-entry-candidates-go