Part 3: Two steps to maximize talent management ROI
When third-party research organization Hobson & Company claims SelectSuite customers can see a full return on investment (ROI) in their talent management solution in just one month, a logical question follows: How?
After speaking with more than 20 of the talent management solution’s users, Erika Blacutt, partner at Hobson & Company, says there are two things organizations must keep in mind to achieve those results: use a phased approach, and focus on adoption.
Implementing a phased approach
“I think the first thing is to prioritize where you focus your energy and how to make the most of implementation,” Erika said. “What matters is really taking a look to see where you can have the most impact and laying out a plan for a phased approach.”
In this phased approach, SelectSuite customers implement each module — Applicant Tracking, Performance Management, Position Management, Analytics and Onboard — over time. This allows college and university leaders to ensure a successful implementation before moving on to address other areas of need.
The key to this approach? Taking the time to truly understand which modules will have the most immediate impact, and implementing those first.
“Oftentimes, what I see is the squeaky wheel gets the grease, but organizations don’t realize that, sometimes, the biggest impact is with less frequently thought of areas,” Erika explained. “Onboarding is a great example of that because, if you look at the time savings from a more efficient onboarding process, you can see that it’s got high potential and is a low-hanging fruit — easily improved with a software solution.”
Focusing on adoption
“Internal adoption is key because if you have a product and it’s only used across 25 or 50 percent of your organization, you’re leaving money on the table,” Erika said.
When you increase adoption, you not only ensure more users take advantage of your solution, you also increase the chances of your staff finding new and creative ways to use it.
“Over the years, what I’ve seen is what I refer to as base-case customers and best-case customers,” Erika explained. “Best-case customers have gone beyond that first path of implementation where they have addressed the most obvious areas, and they’ve gone into the additional layers of product use.”
Download the report to see Hobson & Company’s research, including figures demonstrating SelectSuite’s impressive return on investment — calculated from actual customer data. PeopleAdmin 5.8 users can find a tailored analysis here.