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How to Protect your Wealth by Investing in AI Tech Stocks

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: This is a paid advertorial. This is a paid advertorial. 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.


© 2005-2019 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.


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