If you’re asking the management team to invest in a new HR tech system, you need to think big
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The future of work will look very different to how it is today in terms of structure, roles and the way HR professionals engage people, according to Julie Carroll director, talent advisory & solutions, people & performance, at Deloitte.
Consequently, technology is needed that can keep pace and be agile, Carroll told HRD.
“This provides challenges to HR, not only in articulating what that future of work means for their business, but also in creating a business case which addresses the needs of today while also being able to manage a future which many business leaders may not have considered yet,” she said.
“The payback period on HR technology projects can sometimes be long which means you may need to highlight other key benefits in order to get investment for your new HR technology.”
Carroll added that being able to link benefits directly to the business strategy/objectives is important when your tangible benefits or financial payback are hard to quantify.
“The other challenge is changing perceptions – that your HR technology will only benefit the HR team,” said Carroll.
“Being able to show that the project is business- led and designed to support employees/leaders will be important.”
Carroll will be a panellist at the upcoming HR Tech Summit in Sydney and will be discussing How to build a compelling business case for HR technology investment.
What would be the one piece of advice for HR professionals relating to Carroll’s topic?
“Ensure that the business case and benefits are directly linked to the business strategy, link this with your talent strategy and be clear on what you will deliver and why,” said Carroll.
Carroll added that it’s important to work closely with key stakeholders in the business and ensure they are engaged in what you are trying to achieve and assisting you with both developing the business case and getting it approved.
“Your business case will not be compelling if it is based on benefiting the HR team – it needs to be seen as essential to the business and designed around improvements for employees and leaders,” she said.
“This should then flow through to the design of your new technology – with employees and leaders at the centre!”
At the HR Tech Summit, Carroll and her fellow panellists will also discuss:
• Getting senior management on board with the idea of spending money on HR technology
• Explaining how relevant data will enable senior leaders to make better strategic decisions
• How to calculate the tangible value of technological investment in HR
• Presenting a coherent and worthwhile business case to justify investment
• Convincing senior management of the ROI and benefit of investment in HR technology
Julie Carroll will be speaking on the topic of How to build a compelling business case for HR technology investment at the HR Tech Summit being held at the Hilton Sydney on 13 September. Click here for more details and to register.
