First things first – are you the type of person who would sit for days on end in a queue to buy the latest Apple gadget? Or are you more likely to wait four years and get one from the bargain bin?
It might be a bit of an extreme example, but for early adopters in business, new technologies can be a serious source of advantage over their competition. Especially in recruitment. Imagine, for example, if you’d stumbled across LinkedIn before any of your competitors and started using it to network and speak with potential candidates, before they’d even cottoned on. Taking sweets from a baby comes to mind.
Recruiters with one eye on new technologies will know only too well how they can benefit their business and help steal a march on their competition.
Recruitment technology, much like more mainstream consumer technology (think iPads, apps and 4K TVs), move along what is known as the technology adoption life-cycle. Essentially, when a new technology enters a market, innovators and early adopters are the first to jump on the bandwagon. As the benefit of the tech become apparent, others jump on board too. Only once the technology is fully established will the remaining users (late adopters and laggards) join the party.
So why would you be an early adopter and not wait until the technology is more established? We take a look...
- Competitive advantage
It’s like getting a 10m head start on Usain Bolt in the 100m final (admittedly I’d probably definitely still lose in this particular analogy, but you get the idea). The earlier you adopt the technology, the more time you have to exploit it and gain advantage over your competitors. Once they’ve caught on to the benefits, you’ll already be an established user. Yes, there might be more risk associated with adopting a new technology early on, but the rewards can easily eclipse this.
- Cost savings
Advances in technology have typically helped businesses save time and money. For example, when email was introduced to the modern office, suddenly businesses started seeing huge cost savings on postage, as the volume of letters being sent decreased dramatically. Recruitment technologies, like Hiring Hub, can act as business development tool for recruiters whilst removing the hassle of finding, calling and developing relationships with new clients. Saving you time and money.
- Re-evaluate your business model
People are scared of change. It’s a simple fact of life. New technologies force you to look at the way you do business and manage resources. It might be difficult, but it could bring you the greatest reward. After all, just because you’ve always done it one way, doesn’t necessarily mean it’s the right way. The best tools should always allow you to do things in the most efficient way.
So which type of person are you? Are you the one at the front of the queue for the latest iPhone? Or do you wait it out, see what everyone thinks, let them become a pro, before stumbling into it yourself and realising what you’ve been missing?
If you’re the latter, it’s time you take a look around and check out the recruitment technologies out there to help you grow, before it’s too late. Ultimately, a business that doesn’t adapt to changes and new technologies now, won’t be here in the near future.
For all those early adopters out there – keep up the good work. You’ll no doubt be interested in Hiring Hub (or using it already), and how it can help grow your recruitment business. New vacancies are being added all the time and you’ll get access to roles posted by organisations that might previously been out of reach.
Find out more and take a demo here.