Technology is evolving rapidly. HR Technology is a subsection of this innovation, and is also evolving rapidly in its own right. In addition to rapid expansion, HR Technology appears to be lucrative as well. According to a 2014 Forbes Article by Josh Bersin, the HR Technology market is a $15 billion dollar market. With that kind of money backing this industry, there are endless options and opportunities for both for HR Tech companies and potential buyers.
With more and more leaders shifting their focus to talent management strategies, having the right technology working for you is an operational imperative. The trouble with having all of these choices and options at our fingertips is it is overwhelming. From experts to reports, whitepapers and admittedly bloggers like me- it can be confusing to digest all of the tips, tricks and advice that is out there.
The purchase of HR Technology is one of the larger investments we make in HR. In many organizations, the request to purchase technology is enough to make your CFO gasp and that is even with the proper justification backing the request. If you’re going to invest money in new technology to facilitate your operations; it would make sense to do your homework on the market to ensure you are making the right investment.
You may be thinking ” well that’s obvious, Janine”. My experience has taught me that companies are not as dedicated to a proper selection and implementation process as you may think. More often than not, the purchase of HR Technology is lead by good intentions, distorted by unrealistic expectations and compromised by flawed decisions. One of the things that drives me mad about organizations is: when they choose a provider based on market presence or some other arbitrary factor without holistically considering other important factors like: customer satisfaction, customer retention, their specific niche, and how the technology will improve or facilitate operations etc. Instead, they end up making the wrong decision or poorly implementing a good system, because they were unclear about their requirements. Additionally, they forget to spend a fair amount of time thinking about the inherent limitations and opportunities involved with the purchase. The criteria I mention are just a few of the many things that should be considered when looking to purchase HR Technology. As an HR practitioner and potential buyer, half your battle is understanding how important it is to give yourself and your team adequate time to evaluate your HR Technology of choice before purchasing.
Now for some help…
Recently, I was fortunate enough to receive the G2 Crowd Grid for Recruiting Software from my friends at Ultimate Software. While it should not be your sole data point for deciding what to choose- it is certainly a step in the right direction towards making sensible HR Technology purchases. Perusing this report, you will find scores for satisfaction, market presence, number of ratings etc. You can even compare HR Tech providers to see how they stack up when it comes to implementations, contract terms and pricing.
If you are in the market for a new ATS or other HR Technology-this report is worth reviewing. You may even be surprised to find out who is leading the HR Technology landscape at the moment- I know I was. I will hint that some of my favorite Recruiting Technology providers are finally receiving the kudos they deserve.
You can get a glimpse of the report below. The grid as pictured below shows how Recruiting Technology providers stack up when it comes to ‘satisfaction’.
For the a free, full report and the ability to run your own analysis of Recruiting Technology providers, click here.
Have an HR Technology Implementation question? Set up a 15 minute Talent Strategy call with me here.