PROVING ROI CRUCIAL FOR HR TRANSFORMATION?
Presented by
Description
HR technology investments have been growing consistently for the past years. Between 2021 and 2022, for example, business investments in HR tech have risen 57% according to Forbes, with strong focuses on L&D, recruitment, retention, wellness, and benefits. Organizations and their HR departments understand the value of HR technology in order to keep up with our rapidly digitalising world and the expectations of their employees.
And yet, few companies are measuring the returns they’ve received from their investments in HR technology. As a result, SHRM reports, experts say that there has been a considerable waste and unmet expectations from technology investments that were ill-conceived or because new platforms didn’t receive the proper care and feeding once introduced into the organization.
A common roadblock for HR teams when it comes to investing in HR tech is leadership approval. Key decision-makers and stakeholders need more information on the ROI and tangible benefits to get on board.
This gets us to our first statement:
As long as the ROI of HR Tech isn’t clear, HR transformation will never fully take off.
