Every leader of a business wants to find ways to grow and sustain its momentum. Technology and the solutions it offers are integrated into many companies’ operations to support growth.
But sometimes organizations implement tech for its own sake or to make up for poor strategies. Other companies avoid using technology-driven solutions because of a lack of understanding or awareness. Neither approach will truly benefit your business.
Fortunately, having the knowledge of a CIO or technical genius isn’t necessary to take advantage of technology’s capabilities. This article discusses ways your business can effectively use tech services to promote growth.
1. Gain Global Expertise
Labor shortages are one of the effects of normal business and economic cycles. Extraordinary circumstances like the pandemic can sometimes heighten those effects. Companies in nearly every industry today are facing challenges with finding and retaining enough talent to maintain and expand operations.
Hiring outside your organization’s domestic borders is one way to help close the talent gap. Whether your business model accommodates remote work or you’re looking to expand overseas, global talent can augment your expertise. But onboarding an employee who lives in another country isn’t as simple as sending out and signing paperwork.
Businesses often need to work with a professional employer organization (PEO) or employer of record service (EOR) to enable international hiring. These services harness web-based technology to facilitate HR functions such as payroll, benefits administration, and new hire documentation. The difference between EOR and PEO services is that a PEO is limited to handling payroll and benefits admin. If you don’t have a legal entity in the country you want to hire from, you’ll need to engage an EOR.
An EOR handles local labor law compliance on your company’s behalf and becomes your foreign workers’ legal employer. It’s a way for you to hire worldwide talent without setting up separate entities or subsidiaries. You still get to manage the skilled workers you’ve brought on board to grow the business at home and abroad.
2. Raise the Bar on Productivity
The business world’s reaction to AI-driven technology is undoubtedly a mixed one. Some workers and business owners perceive it as an intimidating development with the power to eliminate jobs or human-to-human contact. Others view artificial intelligence and automation as opportunities to learn new skills and boost productivity.
Artificial intelligence doesn’t necessarily translate to a large displacement of workers but rather a shift in job responsibilities. AI can also help businesses expand services and serve more customers. Self-checkout stands in a supermarket are an example. Before these existed, checkout lines could easily back up with frustrated customers during peak service hours.
While self-checkout machines aren’t perfect, stores are better poised to handle unexpected increases in foot traffic. Front-end managers don’t have to temporarily pull staff off the floor to help check out customers. People can still get the assistance they need while shopping. Cashiers can also focus more on customer service instead of feeling rushed.
Yet the technology behind self-checkout machines still requires human oversight and intervention. It’s a cross-training and job rotation opportunity. The automation tools within project management and communication software services can work the same way. These tools help your staff streamline repetitive tasks, allowing them to do more with less. Plus, your employees will have more time to concentrate on higher-level tasks and use skills that improve operations.
3. Make Mobile Commerce a Priority
Mobile or m-commerce adoption is a factor that business leaders can’t afford to ignore in their near- and long-term strategies. Mobile commerce is expected to represent 44% of all e-commerce activities by 2024. A sizable portion of your potential and existing customer base is no longer using laptops or desktops to access your website. And certain clients probably expect you to have a mobile app so they can shop and track orders.
Mobile-friendly website designs and apps are just as critical for organizations that provide services. Clients’ lives are busy, and they want the convenience of making appointments, getting estimates, and managing accounts while on the go.
For instance, banks have made it easier to pay bills, make deposits, and transfer money using mobile apps. Given limited branch operating hours and concerns about identity theft via ATMs, customers have another secure way to get service.
Customer relationship management and web development software can help you design mobile-friendly websites. These platforms let you preview what your pages will look like on a smartphone and tablet. You might find you need your website team to tweak existing templates and designs for a better user experience.
Your business can also use the skills of digital marketing agencies and mobile app developers. In addition to website design, many of these agencies have SEO optimization and content marketing management knowledge. They’ll not only help your website look and perform better, but also drive increased organic traffic and lead generation. Digital marketing agencies and app developers let you supplement in-house capabilities and cater to mobile users.
Growth and expansion are inherent goals in most businesses. Progress makes a statement, whether it’s starting an innovative product line or breaking ground on new locations. It says a company is making headway instead of looking for an exit strategy. Because technology also represents new developments, business leaders and owners sometimes equate it with growth itself.
But leveraging tech solutions and services requires strategic thought and alignment. Services that facilitate global hiring, boost productivity, and support m-commerce activities address operational gaps that could otherwise hinder business development. When business leaders sync technology services with development objectives, growth can occur.