Why investing in people outweighs investing in technology

I sometimes feel as if the tech industry is stuck in a loop. Seemingly, every hot startup is constantly chasing after the next big gadget or software update, only to find the game has changed yet again. There’s a relentless push for newer, faster, and smarter technology and it really does nothing except exhaust and confuse leaders in the industry. Here’s a bold claim to consider—it’s time to shift your focus… It’s time to invest in people and process, not just technology.

Keep reading.

Overemphasizing tech:

We all know that today’s digital landscape is fast-paced and trying to keep up isn’t for everybody. Companies often invest millions in acquiring the latest hardware and software, hoping these tools will spur innovation and boost productivity. However, this type of tunnel vision can easily lead to unforeseen pitfalls and an undue amount of stress on the organization as a whole.

To put it simply, technology, while essential, is merely just a means to an end. Without the proper skill sets and the ability to take advantage, the potential benefits of technology can remain unrealized if the right people aren’t in the right places. Without question, all sectors of industry are littered with stories of failed projects, not due to inadequate technology, but because of a lack of skilled personnel and inefficient planning.

Your organization can still swim if you have the resources to make a few mistakes along the way. However, if you’re a smaller company with limited resources, one financial blow can sink the entire ship.

Then you have to get that resume ready, and you probably haven’t dusted it off in quite some time.

Under-emphasizing people:

In today’s competitive market, employees with up-to-date skill sets are highly sought after, but not easy to bring onboard. The person you might want for a certain role might not be the right person for the exact role. As the technological landscape changes, job roles and responsibilities are changing as well, which makes it necessary for employees to continuously adapt, all the while expending lots of energy on constantly being brought up to speed.

In this scenario, it makes sense to invest in the right amount of in-house employee development to not only ensure that a workforce remains relevant. On top of that, an organization simply cannot attract the top talent if the correct infrastructure isn’t in place.

Furthermore, a culture of continuous learning can foster innovation within an organization, and there’s nothing better than that. With a constant flow of new ideas and skills being shared among employees, new solutions and processes can be developed to improve overall morale and effectiveness. This type of work environment can create a cycle of growth where the organization, the employees, and ultimately the customers can benefit from a culture of continuous growth.

And who doesn’t want that?

The human element:

In addition to driving the necessary skills to foster innovation, investing in employee development can also lead to higher retention rates. When employees feel valued by their company, they are more likely to stay loyal while working at a high level and helping others buy into the process.

This simple switch-up from tech-centric to people-centric not only reduces turnover costs, but also tends to create a positive work environment that can actually attract top talent.

This idea gives a clear direction to organizations looking for a boost. Through the process of nurturing people over technology, workforces can stay in control of the technology instead of having the technology control them. As everything continues to advance at a rapid pace, it’s more important than ever for organizations to prioritize the well-being and growth of their employees and let the tech fall where it may.

Trust the process:

This concept of nurturing people over technology not only benefits individuals, but also has a positive impact on the overall success and productivity of a company.

In my humble opinion, prioritizing people means recognizing that they are at the heart of any technological advancement or change. Technology cannot work independently; it requires individuals with the right skills and mindset to utilize it effectively. This is why investing in employee training and development, as well as creating a culture that encourages innovation and collaboration, is crucial for successful tech implementation.