At the start of 2021, we introduced a new event series: HR at the Table. In this series, we connect with HR and Talent Acquisition leaders from some of the nation’s most notable companies to discuss their role at the executive table—an unfortunate afterthought for many organizations still today.
With another HR at the Table episode coming up this month, we thought we’d explore how HR Reinvention (episode one) redefines the role that HR technology plays in executive alignment (episode two).
Note: We’re only briefly jumping into the topic of HR and executive alignment in this article. For more information, join us February 18th for HR at the Table episode two with MSI’s Global Senior Director of HR, Chris Courneen.
Episode one of HR at the Table featured IBM’s Global Leader of Talent and HR Reinvention Strategy, Elizebeth Varghese. In this episode, Elizebeth shared the challenging business dynamics organizations are facing today—business disruption and competition at the top of the list.
With stronger competition coming from new and unique sources, organizations are depending on HR leaders to deliver higher quality talent in a today's talent market. Now more than ever, HR is called to embrace HR Reinvention by: (1) embedding into the business, (2) understanding business requirements, and (3) seamlessly delivering HR services to the organization.
The start to HR Reinvention and executive alignment, then, is embedding HR into the business by connecting HR strategies and processes into fundamental, core business outcomes.
The HR tech space is full of talent solutions today (but you probably already knew that!). From ATS and CRM solutions to HRIS and Assessment platforms, there is a technology solution for all of your hiring, recruiting, and retaining talent needs.
In fact, we had the opportunity of hosting industry-leading analyst and Founder of Aptitude Research, Madeline Laurano, for a webinar last year on hiring trends. From her latest research, Madeline found that one in three companies are using more than 10 different recruitment solutions—a prime example of technology solving the very talent needs of HR leaders across the globe.
However, while technology can actively protect organizations from the strongest business challenges today by finding quality talent, reducing costs, and increasing efficiency, it’s really only a means to an end if it doesn’t go further and play a role in aligning HR and executives.
To do so, HR technology has to be viewed as an investment—one that you define, measure, and derive value from.
Embedding HR into business goals, strategies, and outcomes through HR technology starts by defining and bringing value.
As mentioned above, one in three companies use more than 10 different recruitment solutions. Oh and did we mention:
While technology solutions can provide ample resources and support for any HR leader, research has found that one in two companies don’t measure the ROI of their HR technology solutions (Aptitude Research). In other words, companies are investing in HR tech solutions but not measuring the investment of such platforms—that’s a heartbreaker right there.
To be at the executive table, HR leaders have to connect HR to core business outcomes by defining value such as ROI. Measuring ROI is not something you have to wait years to do. You can (and should) consider the ROI of your HR investments before you select another HR tech platform or solution.
Consider the financial value of each investment in technology and weigh the costs (i.e. provider costs, internal costs, training costs, etc.) and the benefits (i.e. productivity, positive conversion rates, accuracy of hire, etc.).
For more information on calculating the ROI of your HR technology solutions, download the TA Tech Buyer’s Guide, written by Madeline Laurano of Aptitude Research.
At the end of the day, to claim a seat at your organization’s executive table, you have to bring measurable value. Don’t look at your HR tech stack and think that’s enough because it’s bringing in quality talent. Be sure to calculate the ROI and value of your investments and connect your HR strategies and processes to your company’s core business outcomes.
Now, we’ve only touched the surface of executive alignment for HR leaders. We're leaving the rest to Chris to discuss on February 18th at our next HR at the Table episode. If you haven’t already, register today for this highly-anticipated discussion!