3 Ways in Which Technology is Making Your Business Bleed

Opening the doors of workplace to technology has largely been a decision in favor of the former, considering the sort of positive impact it has had on strategic and operational level. You, along with many other employers like you, might be patting yourself on the back for embracing the likes of internet, smartphones, and PCs with arms wide open. After all, it’s been great for business, right? Wrong. There’s something that you’ve probably failed to notice all this time. That something is the price that you and your business have been paying due to integration of technology in the corporate world, as well as its growing prevalence in general. You’re probably thinking this is some kind of a joke. Well, if you’re reading this on April 1st, then your skepticism is understandable, otherwise your lack of awareness is depressing. Here’s a reality check on how your trusted aide has been making you bleed all this time.

Unreliable Priorities

Well, this is pretty self-explanatory. If you’re still confused, here’s a quick explanation. Giving your employees digital privileges to assist them in performing their work better and helping the business operations run smoother hasn’t been going as well as you’ve hoped, has it? The data on the growing demand for employee monitoring tools paints a rather bleak picture, highlighting the pitfalls of internet and web-connected devices in the workplace. You probably haven’t realized that with access to web and mobile devices, the priorities of your employees have shifted, with socializing and surfing the web rising to the top of the list. To them, your success doesn’t matter much. After all, it’s not like they’re getting a heavy chunk of the profit your business is making. With the distractions right at their fingertips, expecting them to remain focused on work and remaining productive is wishful thinking on your part.

Corporate Espionage

By bringing technology into your business, you’ve pretty much handed your employees a loaded gun and given them the responsibility to ensure your safety while you take a leisure swim in the pool of money your business is making. It doesn’t take employees long to realize, or rather feel that they aren’t getting their fair share of cut from the profitability of your business. This leads to diminishing loyalty, eventually pushing them to a point where they start searching for alternative means to increase their income. Quite often, they find your competitors willing to pay them extra in exchange for information. This information just happens to the be the very sensitive data that gives you your competitive edge and helps you generate revenue. With access to the internet and web-connected devices, your employees happily and conveniently oblige to your competitors’ generous offer.

Volatile Market

Technology does help businesses in reading the market better than ever, and catering to it more efficiently. However, it has also lead to the market becoming more unstable. There is just so much information flowing around these days that no matter how hard you work to strengthen your grip on the market, your position is challenged by someone who manages to convince your potential customers that it’s better, and perhaps cheaper. Staying on top in the market has never been harder. Even if you do differentiate yourself from the rest of the competition through superior quality, the ingredients of your success are likely to become public knowledge and eventually replicated, perhaps even refined, sooner rather than later. Technology has made the potential customer smarter, unforgiving, and more demanding than ever. And you have no one but technology to thank, or rather blame for it.