Breaking Martec's Law
Jeff WellsFeb 13, 2019
We live in a world where technology is all around us. Chances are, most of us are using advanced technology in our daily lives (i.e. smartphones, wearables, smart TVs, IoT, etc.). So why then, in a world of digital everything, do we still use physical calendars, paper time cards, excel spreadsheets, staffing augmentation, etc. in our daily operations? The answer likely lies in what is known as Martec’s Law.
Martec’s Law is the principle that while changes in technology occur very rapidly, changes in organizations do not. Why are organizations so slow to change and adapt to new technology? Generally speaking, organizational change is dependent on things that are difficult to change (i.e. attitudes, corporate structures, behaviors, culture, etc.). In these environments, implementing new technology is often seen as costly and administratively burdensome…leading to an unwillingness to try new things and a culture of “that’s how it’s always been done.”
While adopting new technology can seem overwhelming, the evidence is clear that it also can pay off in a big way. A study by the Harvard Business Review found that early adoption of technology leads to an overall competitive business advantage. The study found that companies that are quick to adopt newer technologies can obtain a “first-mover advantage” over their competitors. This advantage can lead to growth in both revenue and market position. In fact, a Verizon analysis of the Harvard Business Review study found that the revenue growth of “first-movers” can be 2-3 times that of the growth of those businesses who wait to adopt technology once its “proven” or “well-established”. For businesses to gain these competitive advantages, it is imperative that they embrace a culture that is open to new ideas, new technologies and new processes.
The on-demand economy is giving businesses a new option for labor flexibility. Imagine a world where businesses never have to turn down orders due to labor capacity constraints and never have to spend money on unused labor in down cycles. Now, imagine a labor technology solution that enables businesses to tap into this infinite flexible capacity without the usual barriers to adopting new technology. That is exactly the solution that Veryable has created.
Veryable is a real-time marketplace for labor where businesses and workers can connect on-demand. The Veryable platform is set up to allow businesses to quickly adopt the new labor technology without the typical upfront costs and administrative burdens. In fact, the simplicity of its use is one of the competitive advantages of using Veryable. To learn more about this new technology and become an early adopter, go to www.veryableops.com.
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