How to Buy HR Technology: The First Step
Companies are changing the way they buy HR technology. Evaluating and selecting the right provider has become much less about product capabilities and much more about a true partnership. And that’s a good thing. In fact, according to research we conducted last year, nearly 80% of companies said that “word of mouth” and “reference calls” are the most influential factors in making decisions- not RFPs or demos. Companies want solutions that they know will deliver results.
So, if selecting technology is more than just feature and functionality, what should companies consider when evaluating a provider? What should they look for in a true partner? On June 6, I am excited to attend Jobvite’s Recruiter Nation event to share some of our latest research on how companies are buying HR technology. Some of the topics covered during this session will include company background and culture, services and support, product roadmap, and staying power. This session will help empower buyers to ask the hard questions and think about what is important beyond what they can find on a demo or a company website.
But, the first step companies need to consider is understanding their own unique requirements. Word of mouth is not enough and relying on referrals can create barriers to creating a long, meaningful relationship with a solution provider. Before companies look outside, they need to take the time to understand their own needs.
Below are some recommendations on getting started with an Internal Needs Analysis:
- What It Is: Internal Needs Analysis is an exploration of an organization’s strengths and weaknesses focusing on internal factors. Companies should consider what past obstacles they may have faced when selecting technology, who is involved in the selecting process, and what processes are currently in place.
- Why It Is Important: Companies need to understand what requirements they have before they can begin to know what technology providers they need. This step is critical to helping companies stay prepared and making the selection process much simpler.
- How to Do It: Companies can begin an internal needs analysis with SWOT analysis, interviews with key stakeholders, assessment of existing technology solutions, budget planning, long-term vision planning, alignment with corporate objectives, or readiness assessments.
As the HR technology market changes, the selection process must also evolve. I hope you will join me in June to talk about key recommendations and action steps for making the best decision around your technology.