How Technology will help improve organizational efficiency in 2020
As we enter the new decade – 2020 it’s no surprise that technology will continue to transform the future of work. The rapid adoption of emerging technologies such as artificial intelligence (AI) and machine learning (ML) coupled with trusted data ecosystems, empowered interconnected teams and progressive leaders. Enterprise technology promises to produce new levels of workforce efficiency, productivity and growth across enterprises.
Technology trends and what to watch out for in 2020
Small and medium-sized businesses are constantly looking for new technology to create a workforce that is more productive, more efficient, and more innovative. It’s no secret that enterprise tech is the most sought after company asset in today’s business environment. The right technology can vastly improve a company’s overall efficiency and performance in the market, as well as improve employee productivity, communication, collaboration, morale and engagement company-wide. Some tech trends that seem to be on the rise and are seemingly evolving in 2020 are blockchain – which sees more maturity in 2020, artificial intelligence and machine learning to improve cybersecurity. Also expect the internet of things (IoT) and industrial internet of things (IIoT) to grow in 2020. And as they do, edge computing and robotic process automation (RPA) will gain traction.
Other enterprise tech trends for 2020
Industry experts are also watching these enterprise technology trends:
- The fall and rise of social media: Like many innovations social media was greatly hyped and now we’re seeing the backlash of it being oversold. Over the rest of the decade, organisations are going to figure out how to use social media services effectively and profitably without hype.
- Reinventing entertainment: Apps and connected machines are going to change consumer behaviour and nowhere is this more notable in the entertainment industries which are being revolutionised by tools like Google Glasses and social media.
- 3D printing: One of the most exciting, and business changing, technologies is 3D printing which allows you to print a coffee cup at your desk, help robots construct new buildings and give a little boy a set of fingers.
- Mobile apps are redefining service industries: The mobile phone app is currently booming but the real effects of these mobile services will be felt on industries as diverse as the taxi industry to the mining and agricultural sectors.
- The Internet of Things: If there is one thing that is buzzing in 2019 and will never stop, it is the internet of things (IoT). Alert from alarm clocks to start the day, getting your favourite smoothie from the vending machine while getting your cab ready to take off for the business of the day. And oh! The light is still on..turn it off with just some keys.
However, when it comes to choosing the right technology for your workplace, making the right choice can be difficult. There are numerous types of software and various tools available today. Of course, you won’t need all of them, just the right ones to suit your company’s needs.
For instance, According to research on the evolution of the mobile enterprise adoption and trends, custom apps are beneficial to both companies and their employees, with 30% of companies reporting custom apps improving their business processes and 24% of them reporting improved employee productivity, among other benefits. Concluding from the mentioned stats, technology evidently carries the potential to improve workplace productivity. But this is only possible once you completely comprehend the available technology and accordingly select the right mix that suits the needs of your organization. And more importantly, the right platform that meets the needs of your employees.
Let us further study the impact of technology on the different business aspects of human resources, thus making an informed choice while selecting what technology to adopt.
- Managing performance: In 2020, companies will recognize that achieving their full potential means developing and nurturing a network of high-performing, interconnected teams consisting of multidimensional individuals, rather than singled out individuals.
Job roles are ever-evolving and dynamic in nature. Focusing on how technology can be used to improve the overall efficiency and ease of business processes for employees is a key to success. For instance, technology can improve the efficiency of project management, thus improving the collaboration, communication and productivity of team members. Project management tools, such as Basecamp, Asana, Wrike and many others can help companies manage their projects better.
However, when it comes to choosing existing products or developing one in-house, the company’s needs, size, budget, culture and the needs of the employees must be taken into consideration. Technology can vastly improve a company’s efficiency, employee productivity, engagement, collaboration and communication, but only if the right technology is chosen and implemented properly.
- AI-enabled recruitment: We live in a time when marketing technology moves fast and consumer interests and behaviours are hard to predict. Marketers can no longer stick to conventional tactics and hope that their educated guesses and the same old methods will work forever. 2020 may be the year that a lot of people wake up to the dominance of artificial intelligence (AI). It’s sure to be at the heart of global business and industry in the future.
As far as marketing is concerned, this amazing technology i.e. AI can analyze consumer behaviour and search patterns, and use data from social media platforms and blog posts to help businesses understand how customers find their products and services.
From the HR perspective, industry experts say AI is likely to play a very important role in employer branding. And thereby having a big role in the candidate sourcing, recruitment and screening.
One exciting example is innovation in AI in recruitment by an organization called – Ideal that uses Intelligent screening software for recruitment. It has automated resume screening by using AI (i.e., machine learning) on your existing resume database.The software learns which candidates moved on to become successful and unsuccessful employees based on their performance, tenure, and turnover rates. Specifically, it learns what existing employees’ experience, skills, and other qualities are and applies this knowledge to new applicants in order to automatically rank, grade, and shortlist the strongest candidates. The software can also enrich candidates’ resumes by using public data sources about their prior employers as well as their public social media profiles.
Intelligent screening software that automates resume screening represents a massive opportunity for recruiters because it integrates with your existing ATS, which means it doesn’t disrupt your workflow, the candidate workflow, and requires minimal IT support.
- Improved Employee Engagement through technology: Technology within the workplace continues to allow businesses to improve communication with employees. In addition to this, technology can also help you expand your business more efficiently and quickly. Tools such as virtual technology, social networking, and online portals make employee engagement limitless.
The ability to quickly engage one another will help you to get ahead of your competitors. In reality, most business owners now rely on technology to be able to engage with their employees, both in and out of the office. Collaboration at this level will allow employees to maintain a better work-life balance. It also frees up the business owner from the nitty-gritty and allows them the bandwidth to focus on lateral business growth.
With the help of self service management like Let’s Buzzz for employee engagement and performance management, HR teams are now able to respond quickly to concerns. Advanced features like the Mood-o-meter helps keep tabs on organizational happiness and any flags raised are easily tracked and redressed. Employees can also engage in a social recognition culture thanks to this platform. Rewarding employees for their performance is now a breeze with this enterprising software that enables managers to reward good work with just one buzzz. It’s swift , simple and turbocharges your employee engagement activities. You can book a Free Demo Here!
- Virtual Workgroups: workgroups can help your employees engage, sync and share information throughout the lifecycle of a project. The workgroups allow you to diversify your business goals between employees and share multiple points of view regarding projects such as the development of budgets, structuring timelines and streamlining communication. Saas platforms provide business cloud services which are now more mainstream than the intranet and allows you to create workgroups where you can store and share information using the internet. The web-based software allows your employees to customize a variety of tasks including creating sales goals and contact list databases. In addition, collaborative work groups allow you to see the progress of work completed by your employees and provide them with feedback.
Technology is only going to improve and 2020 is likely to see a better and sharper growth in the dependency on technology to improve organizational efficiency. Technological systems that help manage and improve enterprise productivity, reduce turnaround times and enable optimum utilization of available resources are always welcomed by the corporate sector. Technology and the workforce will continue to expand throughout the years. The ability to tap into these sources will continue to help you improve your employee interactions within the company. Allowing employees access to this technology will also help to encourage ideas, improve innovation and strengthen company performance.