The global HR Tech market is a $400 billion market but do organizations struggle while deciding which HR technology to adopt considering the plethora of solutions available in the market?
Can a marketplace with too many technology service providers also be a challenge for organizations?
TechHR17 Pre-Conference started with a discussion on various pertinent themes — from themes like Cracking the digital leadership code, Wiring for growth mindset, Tools & mindsets required for innovation, Talent Management in the age of cognification, or going beyond what is prescribed: pushing the workforce to innovate — the pre-conference gave a sneak peek into what was to truly come in the next two days.
The global HR Tech market is a $400 billion market but do organizations struggle while deciding which HR technology to adopt considering the plethora of solutions available in the market?
One of the discussions during the pre-conference evening focused on “HR Technology Marketplace: Solving the problem of plenty”. The discussion facilitated by Madhavi Lall, HR Head of Deutsche Bank, centered around the challenge of plenty that the HR Technology marketplace poses.
With too many trends converging, how do organizations choose technology to solve their own business problems? Here are the points that the discussion brought forth:
- Fundamentally, the buying of any technology solution has to be based on a business case and has to cater to a business need.
- There has to be a return on investment along with organization readiness to absorb a change or technology intervention.
- Capability and flexibility of the system is a factor that goes into deciding which solution one needs to go for. The technology should be flexible enough to cater to a specific business challenge or a need along with the necessity of the system to be flexible enough for tech adoption.
- There is a need to know how sustainable technology solutions are.
- While we like new solutions, what about the employees at the end of the day? How do employees see a technology solution?
- Because of the lack of awareness of all the solutions that are available in the market, for a particular issue, we need to have a repository of all the companies that offer solutions for that particular problem.