Gone are the times when one had to search huge telephone directories to contact a friend, or send letters by post to communicate with our dear ones, spend hours in transportation, or do manual works like washing clothes with hands and spend hours in books to search for information. Now connecting with friends or searching for information is just click away. Technology has made our lives much easier and efficient. When machine does a manual work, saying washing clothes, it frees up human’s time to invest in other intelligent and brain consuming stuff, say a house wife can spend more time with her kids now to teach them. No doubt that technology has made our lives a lot easier!
Labor costs are often the single largest line item for businesses. So, a successful human capital management (HCM) strategy must balance adequate resourcing with cost controls. New technologies are enabling this balance by improving scheduling so that businesses may be more productive than ever before. Here are some essential technologies businesses should consider in order to help reduce labor costs and improve the bottom line.
With more of advancement and discoveries now we talk about artificial intelligence (computer systems able to perform tasks normally requiring human intelligence, such as visual perception, speech recognition, decision-making, and translation between languages), food production has increased tremendously through the use of Biotechnology and genetic engineering. Surely, technological advances show people more efficient ways to do things, and these processes get results.
But why is there a fear that the same technology that humans created has the capability of taking over the manpower?
Companies are moving towards more of ‘automation’ that reduces the need for human labor force and increases the efficiency, making it more profitable for firms to replace human labor force with machine. Humanoid robots are believed to perform household menial tasks thus replacing housemaids. But this is not a new phenomenon as humans have been evolving with time.
Technology has increasingly permeated our lives and there have been rapid advances in manufacturing and artificial intelligence. Since the electronics revolution Human Labor has bridged the divide between limits of technology and demands of developing economies.
Human decision making and understanding are not only based on intelligence, but they are also based on experience and values. For a computer to attain such a level of sophistication is a fanciful idea as of now. To run a firm successfully technology is imperative but not at the cost of man power. For efficient use of technology and to increase productivity human minds are required.
Human Resources play a significant role in achieving the objectives of an organization by maintaining strong network of relationships across the organization. Maintaining relationships, keeping the motivation up, building strong bond and healthy relation between producers and consumers is not something that technology can do alone. Of course technology has bridged the gap in communication. Social networking, media and advertising help in marketing and attracting consumer base
With more of automation and people losing jobs will ultimately reduce the buying capacity of people leading to loss of companies who went for complete automation at the first place. Technology surely helps us make our tasks easier but it is never a substitute for manpower. The skills which human brain possess, the communication with language and emotional bond which increases productivity at work can and should only be complemented and not replaced by technology. Technology is not a panacea for all problems, human value education, and skills education is imperative to reap the benefit of increasing advancement in technology. A balanced approach will benefit all. No machine or technology can replace the manpower with extraordinary skills and values.