Did you know that the global Human Resource Technology Market was valued at USD 156.98 billion in 2022 and is projected to reach USD 237.42 billion by 2030, growing at a CAGR of 5.41% from 2023 to 2030? According to Kings Research, the HR tech landscape is expected to continue its rapid evolution and innovation, driven by new solutions designed to meet the dynamic needs of HR and business operations.
The HR tech world is continuously evolving, and innovation is at its peak. In such interesting and confusing times, how do you make sense of it all? Where do you begin? How do you catch up?
As an HR professional with diverse experience in implementing various technologies and being a product owner myself, I’m sharing my insights through a series of posts. I invite you to share your thoughts and engage in the conversation. Let’s learn and grow together! Special thanks to @Samara Jaffe for this opportunity.
Let’s Get It Straight
Technology is an enabler, not a strategy. It’s not a magic wand—GIGO (Garbage In, Garbage Out) still applies. Amidst firefighting, peer pressure, FOMO (Fear Of Missing Out) on emerging technologies, and leadership demands, it’s easy to overlook the basics and rush to adopt the latest shiny AI app. However, technology will only be as effective as the strategy it supports. True value comes from using these systems to address your organization’s specific needs and considering how much the organization can absorb based on its culture.
Every organization varies in its ability to adapt to new technology. This doesn’t mean HR tech shouldn’t innovate; rather, it emphasizes the importance of understanding needs, adopting a phased approach, branding, marketing, focusing on WIIFM (What’s In It For Me!) from a user perspective, and integrating the right technology in the right areas.
Before innovating, establish a strong foundation of people, processes, branding, and technology. It might sound boring, but it is FR (For Real!)! Think of it as laying the foundation for a building before adding the shiny things!
Getting Started
Ask yourself and your leadership team these five critical questions:
1. How confident are you in your strategy and the core technology supporting it?
2. What does your organization truly need for a comprehensive employee experience?
3. Do you have alignment and support from the organization?
4. What challenges and considerations do you foresee?
5. How do you address the organization’s culture?
Answering these questions honestly will help anchor your efforts, and they may be your key takeaways from this post!
Now, let’s focus on capturing the details, needs, and considerations of (fill in what here). Here’s what you’ll need:
- Objectives and Goals
- Organization
- HR Strategy
- Current State Analysis
- Systems
- Processes
- People
- Culture
- Key Stakeholders and Alignment Matrix
- Vendor Evaluation Criteria
- Change Management and Training
Focus on understanding and documenting the ‘Objectives and Goals’ for now, and we will cover the ‘Current State Analysis’ next month. Why? Because defining your objectives and goals sets the stage for defining your future state.
When considering the technology ecosystem, ensure it aligns with the HR and the overall organizational strategy and priorities. It’s extremely important to keep the big picture in mind and keep sight of the long-term goals.
Here is an example to understand this better; feel free to use this as a guideline as you think through your journey!
Example of the hierarchy: Organizational Strategy->HR Strategy-Talent Strategy->Talent Tech Ecosystem Strategy. This will help keep the dots connected to the big picture.
Organizational Strategy: To establish a strong presence in the XYZ domain by focusing on innovative, high-quality products and strong customer relationships.
What does the Global HR Strategy look like?
Objective: Attract and retain top talent, develop employees’ skills, and enhance employee engagement.
Key Initiatives of HR:
- Recruitment strategies to attract innovative talent.
- Development programs to build skills aligned with organizational goals.
- Engagement and retention programs to maintain high performance and satisfaction.
- Integrated employee experience via an easy-to-use interface
How should the Talent Technology Strategy Support?
Implement a technology ecosystem that supports and develops the organization’s talent, enhances employees’ skills for innovation, and drives overall company growth.
Recruitment Systems: Implement advanced applicant tracking systems and other relevant hiring tools/apps to streamline the efficient recruitment process for TA team, hiring manager, and a great candidate experience.
Learning Systems (LMS/LXP/Content Providers): Deploy learning systems that offer collaborative learning platforms and resources focused on building capabilities, meeting learners based on needs and personalized innovation, product development, and operational excellence.
Performance Management Tools: Deploy integrated PM systems to set clear goals for providing real-time feedback and learning opportunities for career mobility and development.
Employee Engagement Platforms: Utilize engagement platforms to enhance employee satisfaction and retention by providing tools for feedback, recognition, and retention.
Analytics Solutions: Leverage analytics tools to gather insights on talent metrics, track the effectiveness of recruitment, performance and development programs, and identify areas for improvement proactively.
Intranet or Internal Homepage: We often don’t proactively consider integrating with our intranet or internal website. The reality is that you need to collaborate with the internal communications team to ensure the HR tech ecosystem is integrated into the overall ecosystem. Ultimately, users don’t care whether it’s labeled HR, Talent, or Comms—they just need one place to go. Ensure an easy-to-use interface!
Sneak Peek into the next topic for September:
Current State Analysis:
When conducting this analysis, examine your current systems, processes, employee skill sets, and the culture of the organization.
Implementing new systems without addressing the above areas can lead to inefficiencies and poor user experiences. Be proactive and avoid this pitfall!
Remember, change is constant. While people and leadership may change, systems are more challenging to alter. Do the right thing, even if it takes extra time.
About The Author
Ekta Lall Mittal is a seasoned Human Resources leader with over 20 years of experience spanning diverse industries and organizations. She has cultivated a robust skill set in HR Technology and Transformations within Learning & Development, Talent Acquisition, Talent Management, Skills Transformation, HR Operations and Shared Services, focusing on enhancing end-to-end employee experience.
As a mentor at Women Unlimited and an advisory board member for startups, she is committed to nurturing talent and contributing strategic insights that propel business success. Feel free to reach out to @Ekta Lall Mittal with your input, comments, and thoughts!
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