Many companies around the globe struggle with the problem of trying to grow while the economy is still in recovery mode. It can be hard to justify spending the money that goes into hiring a new employee, when the potential for a downturn still looms. However, many companies have found a way around this by turning to technology.
According to a recent study by Sure Payroll, 76 percent of businesses have changed the way that they do business to account for the more technologically savvy consumer base. To account for the 72 percent of respondents who said they are conducting business online, 60 percent have upgraded their websites and 54 percent are using smartphones and tablets to provide better communication tools.
While this investment in technology is going on, small business hiring trends have stalled, and in many cases, reversed. Month-over-month hiring dropped 0.1 percent in July and 1.7 percent year-over-year. However, overall optimism stands at 72 percent, which is up 15 percent from the beginning of the year.
A recent Inc. article examined the study and what it means for the business world.
"If they aren't already, soon owners will be able to both run their businesses from anywhere, and sell their products or services to people on a phone or tablet. It's a model that is both cost-efficient and requires less manpower," Alter wrote. "It's an exciting, yet challenging, new phase for the broader economy but, as a small business owner, you need to ask yourself what you're doing to grow through technology."
By partnering with an IT consulting firm, any company will be able to implement the latest trends and embrace the optimistic outlook other small businesses have found.