Technology is crucial for attracting talent because it enhances operational efficiency and creates a more appealing work environment. Firms that invest in advanced technologies like AI can streamline their processes, improve service offerings, and provide compelling career opportunities, making them more attractive to prospective employees.

To address the talent shortage, firms should prioritize developing a technology roadmap that includes the adoption of advanced tools. By investing in technology infrastructure and upskilling existing staff, firms can create a more engaging work experience that encourages retention and attracts new talent.

Firms may encounter several challenges when implementing new technology, including significant startup costs, the need for employee training, and resistance from change-averse staff. Effective communication and change management strategies are essential to navigate these challenges successfully.