By Lauren Webber
The internet of things, abbreviated IoT, includes laptops, smartphones, and tablets. The internet itself has proven a huge operational time saver, as has modern software solutions like word-processing programs. In days of old, many things had to be copied out by hand, but now a “ctrl + c” command followed by a “ctrl + p” (or “command” if you’re on an Apple device) can save literally hours of work.
This is a total win for your business, because not only does it save your operation money, it saves employees time and hassle. You also don’t need to hire as many employees, because when a select few have the right tools, they’re able to get more done more quickly. This means productivity is maximized, ultimately leading to greater profit.
Increasing the productivity of your operation is going to be more likely provided you’ve got the latest tools available as workforce productivity has increased by 84% over the last four decades owing to the adoption of business tools/software. Also, productivity is expected to rise by 22% in the next seven years.
If you’re doing the math, this could essentially mean that productivity will hit, ultimately, 106% in the fullness of time. That’s a pretty high number, all things considered. As a matter of fact, if you want to retain competitiveness in the market, it’s a figure you’re going to have to hit. Granted, it’s questionable whether profitability through technology will actually overcome “100%”, but given modern automated solutions, it may not be without the realm of possibility.
Automation is on the rise. Where a factory production floor may have required 100 workers for X output, today the same factory may only require 20 workers for the same level of output due to machine automation and streamlined computational management protocols through advanced tools.
This means a higher level of specialization per employee, but that also means they’ll likely be drawing a better wage, even as your business continues to save. This is yet another example of how doing the right thing in terms of professionalism is likely to net you increased profitability over time.
The key phrase in the precedent paragraph is: over time. Here’s the thing: even if you get the best possible automation in terms of machines and software, there’s going to be a cost involved. You’re likely going to have transition expenses; that’s just how business works. But in the fullness of time, what you save in operational costs more than pays for what you spend upgrading. Just consider cloud computing.
Everybody Sores On The Cloud
With cloud computing, you can outsource internal servers, security, the monitoring of applications, and essentially your entire IT department. Basically, you can utilize a turnkey tech solution that has a predictable monthly cost associated to it. Your network can be accessed and worked on remotely—wherever there is a trusted web connection, and those who have proper access credentials, you can see work done for your company.
This means the costs associated with your office can be essentially outsourced. If you had 100 employees, ten of which were rooted to a particular location for reasons of professionalism, you could outsource the other 90 and save the rent. If that rent were $10k a month, you just saved $120k a year. This means you could spend anything up to $120k in terms of technology, and still end up saving money.
As an added bonus, employees get to work on their terms. They’re able to get work done at home or at a coffee shop with a trusted connection, or on some other web solution. They feel appreciated, and accordingly you’re likely to see them become more productive, yielding greater productivity at diminished expense—the recipe for success in basically any enterprise.
Employee Appreciation Tips
There are more than 101 ways of rewarding your employees for sticking with you through thick and thin without giving them cash. Especially if you’ve just moved to the cloud, you can make a great story out of it - the one about returning home from the battlefield.
Now, as they are getting back to spending more time with their families and working from home, you can give them a token of appreciation to remember the days from the office. You can create some commemorative products such challenge coins, received after finishing your military service.
So use the tools available to you to maximize your operation. It will likely be good for you, for your employees, for your customers, and your forward sustainability as a reliable operation—not to mention competitiveness.