Mark Stelzner, founder of the consulting group IA, outlines important considerations for HR technology purchases. His advice can be helpful from both a vendor and buyer perspective. (1)
Mark starts by describing the crowded landscape of HR providers. Having been in the HR technology industry for over 25 years, I have seen the growth in the number of HR technology providers. I strongly concur with his assessment.
“The HR technology provider landscape is crowded, noisy and incredibly difficult to navigate. No sooner does a new work-related acronym emerge than everyone with nominal adjacency adds it to their copy, website and event booth. And don’t forget the emails, newsletters, podcasts, research, blogs, social posts, cold calls and even text messages imploring you to consume the latest and greatest insights covering the entire employee lifecycle and every subvariant therein.”
Mark goes on to describe the “five factors in evaluating provider value” for HR technology:
- Expertise with Insite. HR leaders expect their vendors to be experts in the field including “the unique nuances, use cases and outcomes of their clients.” If HR capacity is reduced, the client would want the vendor to have the ability to pick up the slack, moving from vendor to partner.
- Value over time. The benefit of the solution must be greater than its cost. A vendor’s offer that is higher or lower than expected should be scrutinized for what benefits are being offered.
- Relationship management and governance. Vendors must come prepared when connecting with clients. The vendor must be both interested and interesting for the client.
- Experience and integration. The vendor’s solution should enhance and not hinder employee experience. And the experience of all employee groups is important.
- Direct alignment with strategic vision. The Vendor’s solution should line up with the client organization’s strategic vision. The vendor should focus on maintaining the strategic alignment over time, as their product and customer needs evolve.
(1) https://hrexecutive.com/5-factors-influencing-how-the-c-suite-is-selecting-hr-technology/
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