Best of the Week
Most Popular
1. Climate Change Mass Extinction - Birds, Bees and Bugs: Going Going Gone - Richard_Mills
2.A Purrrfect Gold Price Setup! - Peter_Degraaf
3.Who Finances America's Borrowing? Recession Indicator for Independent Thinkers Part 2 - F_F_Wiley
4.America’s One-sided Domestic Financial War - Raymond_Matison
5.Gold Price Summer Doldrums - Zeal_LLC
6.Two Key Events Will Unleash Gold - Jim_Willie_CB
7.Billionaire Schools Teacher in NAFTA Trade Talks - Richard_Mills
8.Get Out Of Crypto Cannabis Bubble Before It Pops and Move Into Bargain Basement Miners - Jeb_Handwerger
9.Stock Market Could Pullback for 1-2 weeks, But Medium Term Bullish - Troy_Bombardia
10.G7 Chaos, Central Banks and US Fed Will Drive Stock Prices This Week - Chris_Vermeulen
Last 7 days
How Crazy It Is to Short Gold with RSI Close to 30 - 16th Jul 18
Markets Pay Attention Moment - China’s Bubble Economy Ripe for Bursting - 16th Jul 18
Stock Market Uptrend Continues, But... - 16th Jul 18
Emerging Markets Could Be Starting A Relief Rally - 16th Jul 18
(Only) a Near-term Stock Market Top? - 16th Jul 18
Trump Fee-Fi-Foe-Fum Declares European Union America's Enemy! - 16th Jul 18
US Stocks Set For Further Advances As Q2 Earnings Start - 15th Jul 18
Stock Market vs. Gold, Long-term Treasury Yields, 10yr-2yr Yield Curve 3 Amigo's Update - 15th Jul 18
China vs the US - The Road to War - 14th Jul 18
Uncle Sam’s Debt-Money System Is Immoral, Tantamount to Theft - 14th Jul 18
Staying in a Caravan - UK Summer Holidays 2018 - Cayton Bay Hoseasons Holiday Park - 14th Jul 18
Gold Stocks Summer Lows - 14th Jul 18
Trump US Trade War With China, Europe Consequences, Implications and Forecasts - 13th Jul 18
Gold Standard Requirements & Currency Crisis - 13th Jul 18
Focus on the Greenback, Will USD Fall Below Euro 1.6? - 13th Jul 18
Stock Market Outlook 2018 - Bullish or Bearish - 13th Jul 18
Rising Inflation is Not Bearish for Stocks - 13th Jul 18
Bitcoin Picture Less Than Pretty - 13th Jul 18
How International Observers Undervalue the Chinese Bond Market - 13th Jul 18
Stocks Trying to Break Higher Again, Will They? - 12th Jul 18
The Rise and Fall of Global Trade – Redux - 12th Jul 18
Corporate Earnings Q2 2018 Will Probably be Strong. What This Means for Stocks - 12th Jul 18
Is the Relative Strength in Gold Miners to Gold Price Significant? - 12th Jul 18
Live Cattle Commodity Trading Analysis - 12th Jul 18
Gold’s & Silver’s Reversals’ Reversal - 12th Jul 18
The Value of Bitcoin - 11th Jul 18
America a Nation Built on Lies - 11th Jul 18
China, Asia and Emerging Markets Could Result In Chaos - 11th Jul 18
Bullish Gold Markets in the Big Picture? - 11th Jul 18
A Public Bank for Los Angeles? City Council Puts It to the Voters - 11th Jul 18
Yield Curve Inversion a Remarkably Accurate Warning Indicator For Economic & Market Peril - 11th Jul 18
Argentina Should Scrap the Peso and Dollarize - 11th Jul 18
Can the Stock Market Close Higher For a Record 10th Year in a Row? - 11th Jul 18
Why Life Insurance Is A Must In Financial Planning - 9th Jul 18
Crude Oil Possibly Setting Up For A Big Downside Move - 9th Jul 18
BREAKING: New Tech Just Unlocked A Trillion Barrels Of Oil - 9th Jul 18
How Trade Wars Penalize Asian Currencies - 9th Jul 18
Another Stock Market Drop Next Week? - 9th Jul 18
Are the Stock Market Bulls Starting to Run? - 9th Jul 18

Market Oracle FREE Newsletter

5 "Tells" that the Stock Markets Are About to Reverse

Apps as an Alternative to Hiring

Companies / SME Jul 04, 2018 - 02:35 PM GMT

By: Boris_Dzhingarov

Companies

To grow, a company needs to hire, or so goes the conventional thinking. There is a lot of truth in the statement, but automation can reduce the number of new hires a young business needs to take on.

No business can grow while it is limited to the ten productive hours a day that its founder can put in. All founders must find ways to leverage their input. Traditionally this has meant hiring employees and using the extra eight hours a day that each one provides.


In recent years there has been a growth in the gig economy and start-ups will often hire freelancers or self-employed contractors rather than taking on employees.  The company gets the benefit of extra brain power but without all the legal and tax hassles of taking on permanent employees.

Apps are another disruptive force in the workplace because they allow unskilled freelancers to do skilled work to an acceptable level. An app can increase an employee’s productivity.

What Can Apps Do?

Some apps can partially replace an employee:

Organiser apps can reduce the need for a personal assistant.

Some apps can automate your workflow:

Trades apps for plumbing or electrical contractors can automate the whole process from quoting for a job to scheduling it and invoicing for the work done.

Some apps aid communication:

Planning apps  allow smooth workflow when more than one person’s input is necessary for a job or process

Some apps can upskill an employee:

Project management apps can let an intelligent, but non-specialist employee handle project planning.

Some apps keep you legal:

Cloud storage apps can keep your customer data safer than employees carrying it around on their phones: This could prevent a catastrophic loss of names and addresses that would require you to notify everyone affected under GDPR.

Where Apps Win

Let’s compare the advantages of apps and employees:

Lower Risk

Most apps use a subscription model with a monthly or annual payment required for each user. There is usually a free trial or even a free level of service which lets a company test out an application and check if it suits their work practices before spending a penny.

Even when you start paying for an app, there is usually a monthly payment option, so the most you are going to be out is one month’s subscription.

Compare that with the difficulty you will face sacking an employee who doesn’t work out, with possible legal costs if that individual fights. There is also the emotional toll that sacking any employee takes on you. Nobody wants to go there.

Lower Costs

Many apps start at less than £10 per month per employee. Skilled personnel cost that more than that per hour.

If an employee works 40 hours a week and a month is four weeks, every employee costs 160 x £10 per month - £1600 per month.

Fewer Personal Requirements

Apps don’t need toilet facilities, car parking spaces or desks to work at. Apps don’t take smoking or tea breaks, and apps don’t use electricity or water. Apps don’t need a mobile phone, or a desktop computer and apps don’t ever go sick.

Where New Employees Win

Creativity

New employees bring extra brain power to your operation. You can gain a fresh viewpoint, another person to brainstorm with and fresh ideas. Only a real world employee can give you these benefits; you won’t ever get creativity from a remote freelancer you have taken on to fill a particular role.

Team Spirit

If you have a team of employees, they will work as a team, firing off each other and boosting spirits after a disappointing sales result or personal crisis.

On Balance

Robots are coming, but Apps are not robots; yet. Apps can boost what an employee can do, but cannot offer a direct replacement.

You need both employees and apps. The right apps can leverage an employee’s time, enabling that person to do the work of two employees. Hiring two employees and equipping them with the right apps can give you the benefits of hiring four people.

By Boris Dzhingarov

© 2018 Copyright Boris Dzhingarov - All Rights Reserved

Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors.


© 2005-2018 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.


Post Comment

Only logged in users are allowed to post comments. Register/ Log in

6 Critical Money Making Rules