No one wants to replace a solution after only a few years, so selecting the right vendor is critical to building a solid foundation to help drive your organization forward and tackle new challenges in the future.
Often we see a lack of a balanced approach to selecting a talent management solution and this is one of the most significant mistakes an organization can make when evaluating and purchasing new HR technology.
Based on our research, and over a decade of experience in deploying HCM (Human Capital Management) Solutions from the industry’s leading vendors, we’ve found that companies that only focus on price, features/functionality and delivery model are setting themselves up for disappointment and potential failure.
Not that these items (price, features and delivery model) are bad, and certainly they are important components in any decision, but there are other factors that can be equally, if not more important, in that decision, with long term effects.
Besides price, features and delivery model, we also discuss Vendor Vision, Sales Delivery, Consultant Experience, Vendor Viability and Technology with our clients so that they have a complete picture of talent management vendors, and can better determine what is right for their organization.
We believe that an effective evaluation needs to encompass seven factors listed in the chart below, and be weighted accordingly, in order to make an informed decision.
Note: This article is a small excerpt from our complete HRIS Planning Guide.
The full guide covers important topics such as delivery model, project justification, evaluation criteria, requirements definition and other useful information designed to educate you as a buyer, translating to a more informed decision and a successful implementation.
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