Even though the latest HR and recruitment technologies are generally making work easier, you face one other challenge. How can you convince your boardroom (CFOs and CHROs) to invest in recruitment technology in 2023? Get the answers in this article.
What are the main recruitment technologies to invest in during 2023?
Before we look at the methods for convincing a boardroom to invest in top recruitment technologies, let’s look at the three main examples of tech options you should consider in 2023.
Technology for talent management
Technology for talent management is critical for human resources departments. 73% of US businesses use talent acquisition software. Current applicant tracking systems such as Taleo, Greenhouse and Workday are one type of talent management technology that can help you stay a few steps ahead of your competitors, gather and store candidate-related information, and analyse critical data related to your candidates.
Technology for data analytics
Data analytics technologies are a vital tool that can help you and your team of HR professionals leverage and analyse data (such as headcount, employee engagement, diversity and inclusion and learning and development). With current data analytics technologies such as Factorial, Rippling and BambooHR, you can understand what’s happening in your workforce, produce company insights, and make proactive employee-related decisions.
Technology for talent screening and assessment
Technology for talent screening and assessment offers you the optimum method to review your applicants’ skills and knowledge while keeping your time to hire to a minimum. 56% of employers use pre-employment assessments, and 79% consider assessments to be just as or more important than other hiring criteria. Some of the top tech for talent screening and assessment includes eSkill, TestGorilla, BrainsFirst and WonScore, helping you to assess your applicants’ skills without unconscious bias and hire applicants faster.
Who is responsible for making decisions about your technology?
It’s usually the case that until management and executives make HR tech software investment decisions, you may not get the new HR technology you’re looking for. CEOs, executives, and chief human resource officers may have the final say, but you’re also involved in this choice and must contribute to discussions about new tech options.
Why should you contribute to recruitment technology choices?
The onus is on you to make a business case to convince executives and help invest in exceptional HR technology options for one key reason. A chief financial officer may not be clear on the return on investment your chosen HR technology will provide your company.
Since you have insights into the benefits of current HR technology, you can make a compelling case for investing in the HR tech options available. The financial leaders of your organisation may make budget allocation decisions, but you can help prove that the new solution will provide many advantages, such as faster and more focused recruitment, effortless talent management, and precise, data-driven employee-related decisions.
How can you convince your boardroom to invest in recruitment technology in 2023?
You’ve got three methods available to convince your boardroom to invest in recruitment technology options. Getting support from your HR professional colleagues, understanding the return on investment and getting your IT department’s support.
Getting support from your HR colleagues
If you’ve decided that now’s the time to get an upgrade to your recruitment technology, your first goal is getting support from your HR colleagues. Combined, you can build a compelling and fact-based case related to the current state of your recruitment efforts and contrast this to the positive outcomes of a comprehensive and current technology upgrade. For instance, if your organisation is looking to hire a more diverse workforce, explain to your CFO and executives that a skills assessment upgrade will reduce unconscious bias
Understanding the return on investment
Your case for new recruitment technology is only as good as the numbers and statistics supporting it – it’s time to consider the measurable impact a technology upgrade will provide your team. Understanding the return on investment in terms of the following metrics will convince executives of the best outcomes of your investment:
- Reduced time-to-hire
- Reduced hiring costs
- Better quality hires
- Better employee retention
- Effortless enhancements in productivity
- Effortless employee data management
Be ready with these stats and help your executives understand how HR technology upgrades can significantly improve these numbers in 2023.
Getting your IT department’s support
Since new HR technology upgrades can impact security and lead to downtime during new system implementations, make sure you get the go-ahead from your IT department. Explain the advantages the new system will bring to get their support. Make sure you mention the positive aspects of the new technology, such as less maintenance, effortless cloud compatibility at an optimal level for current HR technologies in 2023 and lower costs.
Convince your boardroom to invest in new recruitment technology in 2023
Convincing your boardroom to invest in new recruitment technology in 2023 doesn’t need to be impossible. Remember to let the statistics do the talking and get the support of your HR and IT departments early on. Choose top HR technologies for your business, get the best ideas from Recruitment Tech, and get your executives on your side to complete your recruitment tasks with ease.