How Your Company Can Get With the Times
When most people think of old-school companies they think of decisions being made at a snail's pace and a "but that's the way things have always been" mentality that ultimately kills innovation. These characteristics are what can cause a business to fail. One of the biggest challenges of a growing tech business is to avoid adding unnecessary bureaucracy by focusing on being nimble so that changes can be made and implemented quickly to respond to the constantly changing tides in new media. There are several key points that old-school companies need to understand about the tech industry.
1. Technology will always change
While older companies rarely change the way that they perform certain tasks, today's tech companies must often take the exact opposite approach. Think about if a business such as Apple would have failed to innovate after their initial struggles in the desktop computer market. They would likely not have experienced success if they had not constantly changed their product offerings based on customer demands and technology improvements.
2. Big is not always better
As companies grow, they become less efficient. As a small company, if a product fails, the company can quickly divert their resources to a new product that will hopefully pan out. As companies get larger, this becomes more difficult. When companies begin to add employees, there becomes a disconnect between profitability and projects that are being worked on by employees. This can become a growth killer.
3. Young people are not attracted to 30+ years in corporate America
Years ago, it was commonplace for an individual to graduate from college and end up going to work for a large organization or government entity. Most of these people stayed at the same organization for their entire careers and then enjoyed a nice pension during retirement. Pensions and retirement plans are quickly becoming a thing of the past, making this one reason young people do not have the same affinity for a corporate job. The younger generation is more interested in jobs that challenge them and that offer avenues to gain knowledge and inspire creativity.
4. The entire job market is changing
With the popularity of the Internet and new technologies such as video chat and document collaboration, the job market is nothing like it was a few years ago. Having a "desk job" is quickly becoming a thing of the past. Now, anyone can work from anywhere as long as they have an Internet connection. Companies and government entities that overlook this trend will lose in the long run. By allowing employees to work remotely, employers can save on business expenses such as office space and utilities, all while still being able to track the productivity of each employee. Allowing some flexibility in terms of working from home is also a way to increase morale which can improve the overall business culture at a company.
5. The younger generation is not as dumb as you think
Many workers in their 40s and beyond look at the younger generation as lazy and only worried about the latest technology. Many of the Generation Y'ers simply understand that the job market is changing, therefore by embracing the latest advances in areas like online marketing, they can find alternative ways of making money as opposed to being stuck in a day job that makes them unhappy. The good-old boy network that used to be the only platform for finding a high-quality job is no longer applicable. Young professionals that embrace technology have a huge leg up when it comes to job opportunities.
Some brands are slow to adopt change (like those whose CEOs lack a social presence) and this can be apparent in their approach to technology. As the world continues to rely more and more on technology, companies should take heed and ensure that they are doing everything possible to stay relevant in this ever-changing world.
Ilan Nass is the head of marketing at Fueled, the leading iPhone app builder in New York City, renowned for its award winning mobile design and strategy.
