Before Buying Talent Technology, Read This
Talent technology is the hiring of the future. Realistically speaking, talent technology is the hiring of the present as well. As the economy stabilizes, the national unemployment rate continues to hover at right around five percent which is great news for job seekers, but it can cause some problems on the HR front if your organization employs a haphazard hiring approach. Talent technology can usually offset the unpredictability of the job market by streamlining a system for managing large amounts of resumes/applicants and helping you filter through the masses to identify a quality fit. Additionally, talent technology can provide efficient processes for advertising and pushing out job openings when you’re having to compete with a lot of other organizations to find your next superstar employee.
Talent technology is the hiring of the future.
What talent technology doesn’t do however, is provide a fix all approach to your hiring process if you don’t lay the necessary groundwork on your end for proper deployment and if you’re not strategic about selecting a talent technology that suits your individual needs as a company as opposed to something that simply looks good on paper. Here are a few things to keep in mind before choosing a talent technology platform:
Choose a talent technology platform that will create high impact for the business, not HR.
There is a lot of talent technology software to choose from nowadays, and it can be kind of overwhelming. The most common mistake HR professionals make when choosing talent technology is settling for something that comes pre-loaded with a bunch of bells and whistles because on the surface, it looks like a good fit. Unfortunately, bigger isn’t always better. Especially when you’re trying to provide a strategic return on investment relative to the talent technology you purchase. You want to focus your efforts on platforms that produce the highest yields, not something that can do a lot overall, but is overpriced for your needs. This is especially true for organizations in the SMB space. Statistically speaking, you’ll want to focus your talent technology platform around improving output in the recruiting, retention, and productivity spaces because attracting (and keeping) the right individuals who are top performers for the company will make your organization the most money.
Use talent technology to become more data driven.
If you design a plan beforehand, you can share those details with your executive team to help with buy-in.
If you’ve spent all this time trying to convince your boss that you using talent technology will bolster your efforts and yield a high return for your business, you better be able to put your data where your mouth is (so to speak) and part of this may include transitioning to a more data-driven mindset in general. Although it may take some time to adjust to this mentality, data is the key to translating your numbers into what matters most to your business – money.
Hopefully, if you use a high quality talent technology solution, it will come pre-packaged with some intuitive metrics that make your job as an HR data analyst, pretty simple. One of the first items on your list before you take the plunge and purchase a talent technology platform should be sitting down and designing success metrics for hiring and managing employees. Even if you don’t have a set of metrics to measure your efficiency with prior to using talent technology, it would be wise to create a list before you shop, so you have a good idea of what you’re looking for in a solution. Again, the goal is to approach purchasing talent technology strategically. If you design a plan beforehand, you can share those details with your executive team to help with buy-in.
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