Making HR Technology strategy deliver on its promise
HR Technology has been in the game for decades. Digitization has infused a sense of renewed zeal resulting in disruptive thinking in this space. While it is all shiny and attractive, CHROs are grappling with the challenge of justifying ROI.
Here are 4 things to do to get your money’s worth:
Collective wisdom: Ensure you have all the stakeholders on board while determining what technology you will invest in. IT team, HR representation across the hierarchy, Finance and even a few employees.
There is no ‘one-size-fits-all’. Processes, systems, culture vary from one organization to another. Hence, it is imperative for organizations to evaluate technology keeping mind the existing scenario. The new system should allow for seamless integration into surrounding business processes. It may well be worth it to create an unbiased representation of the organization and approach.
Stop and Go: Plan out a phased approach to buying and implementing your HR technology. ‘Stop and go’ helps you evaluate the technology for its real benefits before you make the plunge. There could be several challenges that you could be addressed through a phased approach – simpler system integration, better change management and most importantly tracking ROI. Go ahead if these are green – cost saves, productivity gains and accuracy improvements.
Change Management: Taking from our management gurus, change management is one of the key success factors of HR technology. Remember that most of these technologies are mainly productivity improvement tools that cause redundancy. This means that you are likely to face resistance from HR resources down the order. How you manage it is of strategic importance here. It needs to be well-planned – restructure the team, upskill staff and move them to more cognitive jobs. Infuse a strong sense of empowerment to ensure successful change management.
Infuse Digitization: From the baby boomers to the millennials, everyone has espoused digitalization in some form or the other. They expect the same from the workplace. Intuitive user interfaces with mobile and social capabilities for real-time information, Cloud technology for massive economies of scale and cost saves and analytics supporting fact-based decisions making are the order of the day.
It is imperative for organizations, big or small, to join the HR technology bandwagon. The question is only about what to pick that delivers on its promise considering the existing environment.Take the time to formulate what you want from the technology and you’ll be able to find the perfect one that delivers on its promise.
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