Though it seems like we hear a lot of fears about how technological advances are making some jobs obsolete, we can finally hear some good news on the jobs front. A report from the Boston Consulting Group (BCG) “shows a strong correlation between the adoption of advanced information technologies on the one hand and growth in revenue and jobs on the other” among small to midsize businesses (SMBs).
A recent HuffingtonPost article further examined the findings. Writer Carol Roth reported that “business advocacy organizations are taking the BCG study findings seriously” by providing technology education programs for SMBs. Roth made note that many varieties of technologies have brought about budget savings for companies, including cloud services and business intelligence tools, that allow SMBs to become more efficient and more competitive. Derek Kennedy, a BCG partner, said:
"The cloud has really leveled the playing field for small businesses. They get access to the same technology and infrastructure that the Fortune 500 use, with costs that are scalable."
Not only that, but companies are also finding that technology can make workers more productive. According to Roth:
Chicago-based EMJ Companies, a distributor of commercial-grade building materials, is a great example of how SMBs are using cloud technology to enable growth and hiring. EMJ Vice President Gary Wietecha said that the company began using cloud-based Office 365 last year, which boosted its employees' productivity. Because of this shift, EMJ not only anticipates cost savings of $250,000 each year, but has also been able to hire additional staff as a direct result of the cost savings and efficiencies.
In a previous blog, I discussed how another study found correlation between SMBs that use social media and strong job growth. It looks like the BCG study reinforces that claim with its findings on technology adoption. It seems going forth, SMBs have the power to use technology to bring growth to their own companies, to the job market, and to their country’s GDP.