The findings from the Strategic CHRO Harvard Business Review Analytics Services survey report show an interesting conflict between respondents about strategic human resources (HR) and technology. Both HR and non-HR professionals indicate they want more strategic HR, but perceptions differ about whether HR is indeed acting strategically and whether technology can help.
New social, mobile, cloud, and data analytics technologies are enabling CHRO’s to be more strategic. However, even though organisations understand that these technologies are important, only 25 percent think they use them effectively.
HR, which is a human function, made it a point to rely heavily on human factors in order to achieve an organization’s HR objectives. However, with technological transformation being the need of the hour, it became somewhat necessary to amalgamate the many HR activities with the upcoming tech based platforms. A certain pattern was being followed in the HR Technology Market, which has now started to experience a sudden transition. So what is it that is sitting ready to get unveiled?
Go the CPM way:
A brand new concept CPM, which is better known as Continuous Performance Management has started to make an entry in the field of HR. This function finds a close resemblance with performance appraisals, the only difference being the latter is conducted once a year, while the former believes in all round, over the year performance inspection, comparison and betterment. The idea is to monitor and boost employee performance at every stage, which was not a case as far as traditional appraisals were concerned.
Productivity is the key:
For a long time now, organizations that were well equipped with automation were considered to be the most successful units irrespective of the sales and profits that they were making. This led to the actual growth calculations coming out very vague. This is where the focus got shifted from automation to productivity. Not just individual productivity, but also group productivity became important.
Smart Systems are in:
In order to sustain, organizations rely on systems that have been around for a long time now. This is mainly because of the comfort they have developed working on these systems. It is time to get out of one’s comfort zone and bring intelligent systems on-board. If this is done, an organization will not only sustain, but will also be able to touch success.
Change though difficult, it is an inevitable happening. The same holds true with regards to the HR technology market as well. The wise thing to do here is to stay prepared and face the upcoming technological challenges with confidence.
Tech is hot especially when it comes to the human resources, recruiting and the workplace. As even more companies, including possibly yours, look to adding, updating or changing their existing HR and workplace technology, it’s hard to know where to start especially since there are literally thousands of new and budding HR technologies as well as more established and experienced brands and products to choose from.
Here are 3 ways to innovate HR Technology Strategy to increase ROI:
- Align technology and strategy
The reason you wish to introduce a new technology in your business is to improve your company’s overall performance. Even before your plan to put a technology into action, make a note of the factors like the goals you want to achieve and the technology that best supports improved performance. People are more likely to adopt new technology if they can see how it helps them to achieve their goals and objectives.
- Develop a training approach accordingly
The biggest risk for user adoption is the lack of sufficient and customised training. While many vendors offer training options when you buy a technology from them, but this training is standardised off the shelf and not specific to your business processes or culture. Your training should not just be screenshots and PowerPoint but instead employees must get a way to see and play in the system, prior to go-live, in the context of their specific work processes.
- Keep Employees first
When implementing new technology, if you want to be successful you need to plan for, identify and address implementation challenges early, and gain the buy-in and commitment for technology – driving engagement, enhancing efficiencies and improving user adoption – enabling you to maximise your return on investment. Otherwise, your technology is just an expensive tool that no one uses effectively.
Every business requires investment and the same applies to your tech firm as well as technology in particular. In the modern times, everything is based on technology and the work you do is always on the go. Every company, website, app is available on the web, but it is the technology that is at the forefront as well as the driving force behind its proper functioning. In case, your product is worth getting a financial investment, we have multiple companies out there namely Angels List to name a few that will definitely invest in your product if the work done by you has some substance to it.
With that in mind, let’s take a look at 3 different ways to attract investment in technology or firms that work in the same field of business:
- Market your product
In case you are the owner to your product, and your product is definitely cutting edge, then you must promote it in the best way possible. Steve Jobs promoted his Mac in a way that left people thinking and wanting to hear more from him.
- Market your company
Even before someone looks into your product, they look at your company and what it does. The core values and your vision and mission speak volumes about who you are and what you wish to do in near future. In case, your online presence doesn’t show case the best information that would entice people/investors to know more about you, you are doomed even before the idea of getting an investment took wings.
So watch out for what you put out on the web, because it’s very important, especially in today’s world.
- Sponsor Events
While some of us might be of the idea that a company looking to get an investment, wouldn’t want to sponsor an event(s) or be somewhere else, it must be noted that it is these events that create future bonds.
Tech HR and People Matters always believes in giving people/firms a platform to interact with each other and create more opportunities for their business as well as finding better solutions. It is an event that brings the best and beautiful minds together.Creative Social Intranet Software is an employee intranet portal that provides companies the ability to share ideas, post documents, merge schedules, upload photos & collaborate on projects within a single secure intranet portal.