Chart Westcott on "The Secret To Adopting Business Technology"

Businesses are often reluctant to adopt new technologies and, while they often cite the cost of implementing new tech as a barrier, the truth is more complicated. The true motives for resisting technological change is a concern that the technology will not be beneficial to the business. Business owners may also worry that the technology may be too difficult to learn and will therefore go unused by their employees. Yet, there are key reasons to take a chance and implement new technology as it becomes available.

Younger Workers Will Expect Modern Tech
If you want to attract the youngest and brightest talent, you may have to roll with the technological changes. Younger workers concern themselves with using the latest tech innovations, whether that involves mobile technology, smart home devices, or cloud storage options. As they become accustomed to these innovations, they’ll likely look for employers who also embrace new tech advances. In a recent study, one-third of employees admitted they have considered leaving a job, because outdated technology interfered with their productivity.

Look for Usability
The idea in implementing new technology in any business is to ensure the introduction of a new system isn’t going to pose an obstacle to productivity. After all, bringing new tech into your business is supposed to boost efficiency, not hamper it. For that reason, take your time in choosing the right technology for your business. You may also want to look at your employees and how they can be expected to adapt to new innovations. If the tech you introduce is too cumbersome, employees may look for ways to work around it. You want something that’s user friendly and easily implemented.

Take a Customizable Approach
While workers recognize the advantages of technological improvement, they often feel as though they have been cut out of the equation, when it comes to selecting new systems. Whether choosing hardware, software, or an entirely new system, keeping your employees involved in the selection process can help them feel empowered. They won’t feel that this new system has been thrown at them with a sink or swim mandate. Instead, try to implement systems that allow users to customize their dashboard or adjust settings. Where each worker can personalize their system, they will adapt more easily and use the system to become more productive.

While transitioning to any new technology can be a complex situation in any work environment, it’s often necessary. By keeping your employees involved in the process, you can empower them to use the technology to their advantage. In turn, that means better efficiency for your business and stronger growth as a company.

Chart Westcott originally published this article on his Professional Overview website.

About The Author: Chart Westcott is the co-founder and Chief Operating Officer of Ikarian Capital, LLC, a long/short equity biotech focused hedge fund that launched in January 2016. Mr. Westcott graduated from Vanderbilt University with a BA in History and from Southern Methodist University Dedman School of Law, where he concentrated on corporate transactions and tax law.