As the stresses of an impending recession grow, business owners are strategizing how to survive this economic uncertainty by re-evaluating current and future expenses. For example, software subscriptions that once felt necessary may seem like a “nice to have” now.
Leading automation and no-code platform, Zapier, is looking to share the 11 tech tools you need during an economic downturn.
1. Competency-Based Assessment Technology
With an increased need to hire, protect your profit by lessening the risk of turnover. Assessment tech can help you hire qualified and dynamic candidates.
2. Video Conferencing Software
Video conferencing software such as Zoom, Streamyard and Airmeet make virtual events, courses, live-streams and workshops possible while keeping execution costs down.
3. Chatbots
Chatbots can execute day to day customer needs, allowing your staff members to focus on more intensive tasks and operations.
4. Password Managers
With most businesses experiencing remote work in some form, password managers ensure the safety of all sensitive information the business possesses.
5. CRM Software (Customer Relationship Management)
Capturing customer information is critical – a CRM allows you to identify sales opportunities, track in-progress client relationships, and help build new marketing funnels.
6. Employee Recognition Software
Employee recognition has been proven to reduce turnover, improve engagement and increase morale.
7. Premium Antivirus Software
During a market downturn, the smallest setback can cause massive internal disruption, investing the small fee for additional security is key to protecting any proprietary information or confidential data.
8. Google Workspace
Email, calendars, shared documents, and contact lists are indispensable during a recession to ensure team members are on the same page and working efficiently.
9. Remote Device Management
If a remote employee is terminated, a device can be immediately locked to avoid having company data compromised.
10. Community Building Channels
Building a robust community will help drive awareness, increase leads and conversion, and will make Discord one of your most effective marketing channels.
11. Human Resource Information Systems
Organizations must ensure they attract and retain top talent, and many great candidates are lost during this process because of a poor HRIS and onboarding process.