In the last decade, we’ve seen numerous businesses appear from nowhere to challenge traditional conventions and as consumers, we’ve welcomed them.
How much are the emerging technologies influencing our lives? Uber has revolutionised travel in cities by simplifying booking or hailing a cab. Deliveroo took away the hassle of ordering a takeaway. Challenger banks are modernising the traditional banking system, and this probably wouldn’t be happening had PayPal not overhauled the way we pay and transfer funds.
Emerging technologies are set to reshape the way businesses operate too. Take payroll, for example. The traditional pay cycle simply doesn’t fit comfortably with the way we live. It’s an area that is ripe for disruption.
The wellbeing, attendance and retention of the worker is becoming increasingly important to businesses today. If used in the right manner the new emerging technologies can help businesses to take steps to alleviate pressures in their workers’ personal lives, they can leverage these workplace perks to reduce the spend on recruiting and staff turnover.
More than 50 percent of all organisations globally have difficulty retaining some of their most valued employee groups, according to a recent Willis Towers Watson study. Research by Kronos and Future Workplace finds that 87 percent of HR leaders consider improved retention a critical or high priority for the next five years.
So, what should businesses look for in emerging technologies that are on offer? With so many new emerging technologies for businesses, it’s difficult to know what’s worth investing in. Factors such as integration, scalability and compliance must be taken into consideration.
Open APIs & microservices are essential attributes in any disruptive and emerging technology. Avoiding monolithic blocks of code will reduce the time and cost spent getting the integration right, avoiding the technical debt traditionally accrued through work that must be redone repeatedly.
The ability to scale up easily is paramount, therefore a worthwhile technology must incorporate autoscaling – available through any technology built with microservices from AWS, Google or MS Azure.
While there are plenty of emerging technologies that are designed to help businesses be better at integration, security and scalability, it is essential that those ones also deliver a return on investment, adding true value for both the organisation and the worker.
With Hastee Pay’s solution, businesses can embrace giving workers instant access to the wages that they have already earned with zero impact on companies’ cash flow.
Hastee Pay’s innovative technology is buzz-worthy by disrupting how workers are paid forever.