As the holiday season has just passed, I am sure we all saw a few commercials about the latest and greatest technology gadgets. There seems to be a new technology tool every day that is supposed to make our lives easier and our work more productive. And there is lots of evidence that the use of technology is changing our behaviours. Just recently, Macy’s announced it will be closing 68 stores and using the $550 million in savings to focus more on the online purchasing experience. This is a direct response to how consumer behaviour has changed.
But we are not all changing behaviours and adopting technology at the same rate. The younger we are, the better we are at including new inputs from our environment and adapting and learning from them. Many of us did not have the opportunity to use a smartphone until we were well into adulthood and I am sure we all know someone who still uses a paper address book or old flip phone. Children now though are often exposed to smartphones and tablets as toddlers. So there are vast differences between the adoption rates of technologies between generations.
Businesses mainly focus on the needs of the demographic with the most earning potential. As of 2017, millennials form about 70% of the workforce. Millennials have grown up always exposed to technology and their behaviours reflect their comfort with technology. They expect a smooth, convenient digital experience where what they order is delivered to their door in a day or two. This type of consumer behavior is the reason why businesses like Macy’s have to rethink their product delivery strategy.
In the business world we are also seeing the impacts of the fast changing pace of technology. Over the past decade, the number of apps in the workplace has increased. In 2017, mobile apps revenues is estimated to reach $76.52 billion.
Source: http://www.businessofapps.com/app-revenue-statistics/
But productivity is not keeping pace with the adoption of apps and technology tools.
Source: HR 2017—Bersin by Deloitte predictions for the year ahead
The data shows that despite all of the tools available, productivity has slowed in the last 5 years or so. So technology alone is not the solution to increase productivity. We have to look at what makes sense for each business and how the technology will be adopted internally. Most workplaces have a multi-generational workforce and therefore adopt technology at different rates. And not all technology is going to fit your business or make sense in your industry.
When businesses are looking at adopting new technology they need to be aware of whether the system is flexible enough to take into account the different adoption behaviors of employees. At the same time, businesses need to be aware of how their market is changing and how they need to respond to the changing demands of their key demographics. Technology is changing the way we all behave (even if some of us are fighting it) and businesses have to be agile enough to respond to retain their top talent and meet their market’s needs.
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