The Internet of Things (IoT) refers to technologies embedded with software and sensors that can independently communicate with each other.  These objects collect and transmit data over the Internet without the need for humans. Think: intelligent home security systems, which work by collecting and swapping data via the Internet, enabling communication, interaction, and the performance of various tasks. 

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Benefits of IoT for Employees

• ‍Increased efficiency and productivity: IoT-enabled devices can automate routine tasks, gather data in real-time, and help decision-making by providing insights. 
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• Improved work-life balance: Employees can remotely control and monitor devices. Back to the example of home monitoring services; IoT allows employees to control their smart home systems from anywhere. As such, they don’t need to leave work to tend to their systems or exhaust energy stressing about the functionality of the product. 

Benefits of IoT for Employers

• ‍Better Operational Efficiency: IoT devices can lead to cost savings because they can streamline and optimize processes and workflows across large-scale organizations. Using the example of a clothing retailer, IoT can do things like track inventory, ensuring employees are re-ordering stock as needed.
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  Better Strategic Decision-Making: IoT enables organizations to collect and analyze copious amounts of data more efficiently. This can lead to better insights and strategic decision-making. Again, using the example of clothing retailers, employers can leverage IoT to better target paid advertising to potential buyers. IoT devices can help analyze things like market trends and customer buying behaviour to provide marketing teams with better insights, enhancing marketing plans and fine-tuning digital and social targeting. 

Things to Keep in Mind

With the use of IoT comes increased connectivity and data collection. Companies need to be vigilant with security in order to protect proprietary information and ensure privacy.