Where Did All the Data Entry Candidates Go?

1
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.
2
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
3
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.
4
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.
5
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.

6
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.
7
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.
8
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.
9
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.
10
(No Transcript)