20 Jun As Technology Advances So Should A Business

Source: United Benefit Advisors (UBA)

The adage, “If it ain’t broke, don’t fix it,” doesn’t apply to Generation X and Y — at least not when it comes to employers and their use of the latest technology. As employers build relationships with their current employees and potential recruits, they need to be aware that these people are sizing them up for their use, or lack thereof, of the most recent technology. Furthermore, these same employees are not afraid to quickly leave for someone else if they feel an employer is out of touch regardless of their previous track record.

In an article in Insurance News Net, according to Fidelity Investments more than one-third of investors would switch if advisors were not using technology to enhance their services. This should come as no surprise to anyone who has noticed the proliferation of smartphones, tablets, and apps among today’s youthful workers.

While it’s entirely possible that the old software an employer is using generates excellent results, most people today expect the latest technology to be intertwined into every project. Hopefully, there are no departments within any organization that are still using only pen and paper. Workers in their 20s and 30s don’t just use technology every day; they rely on it to get things done better, faster, and more efficiently.

Fortunately, most employers are aware of this shift in the use of technology and have adapted accordingly. The Fidelity survey found that more than three-quarters of advisors are making an effort to increase their use of technology and they also felt this technology necessary to grow among their younger prospects. The major issue isn’t in trading the old for what’s new; it’s finding the correct balance between the latest technological process and applying just the right amount of human touch.

Many employers are still unsure about the best technology to use for their industry, how to configure it once in use, and how best to integrate it among all their employees. To make matters even more complicated, technology upgrades are often expensive, so getting it right the first time is crucial.

By and large, employers have grasped the concept of mobile computing and the need for employees to access their desktop computers and other company resources from any place and any time using a tablet or smartphone. These same employers, however, are also keenly aware that they won’t get a second chance to get it right with Generation X and Y employees or customers and that this relationship is very different from baby boomer and older generations.