There’s a common misconception that hiring an advisor/consultant to lead an HR Technology solution provider selection project will always cost a lot of time and money.
What are a few ways you have approached clients who may have a limited budget for a selection/sourcing project? What is the best piece of advice you have given them?
It can be very costly in time, resources and financially to make a decision that does not meet your company goals. Working with a consultant who knows the market can make the process of selection not only faster but more accurate. Take advantage of industry expertise to make the process easier. – Anne Burkett, USI Insurance Services
I think the key is to find a consultant that can work with your budget and adjust from their side accordingly. Be flexible. We do a lot of projects with companies on a limited budget, it is a conversation piece in the beginning. "We have X for a budget, we need Y done, how can we make that work?" I think it is important to have that conversation early in any advisor/consultant search. – Caleb Fullhart, Peridus Group
There is considerable value in conducting the proper due diligence on the front end so you aren't oversold by the solution providers - both in soft and hard dollar costs. The ROI of hiring a consultant is a net positive for most clients because A) you're ensuring you are conducting the in-depth needs analysis you need to find the right provider, and B) most consultants have relationships within the provider community so they're able to pass along deep discounts and elevated contract concessions in year 1 and beyond. – Corrina Nation, Benefit Technology Resources
Implementing the wrong solution (or a bad implementation of the right solution) will cost more money in the long run. Spending more time determining their needs and priorities prior to initiating a search will help them focus on getting the right solution and building it out properly. It's penny-wise and pound-foolish to make a tech investment and not properly vet or implement it. When looking at HCM, don't be distracted by shiny objects - focus on the items you have prioritized and spend the time/money to implement correctly the first time, then iterate to add new modules or features as time and budget allow. – Robin Ryan, Woodruff Sawyer
First, be realistic and transparent about your budget. If the budget is a firm $15k for example, make sure that's disclosed to the consultant. From there, start with identifying your objectives, scope, must haves and your secondary priorities, but also be mindful of current state and systems. This is arguably where a lot of organizations struggle, but skipping this step is not an option. A solid consultant should be asking you questions you didn't think about and forcing you to do the upfront homework before even considering does it make sense to proceed with a vendor/provider selection. – Ron Conine, Lockton Companies
We have presented multiple options to clients. Full “all in” first, and then a bit of a hybrid approach that may better fit the budget. I always tell them I could not imagine them leading a project while doing another full time job. Biggest advice I give them is to do it with a consultant. Work with someone to guide you through all of the responses and demonstrations. – Vincent Pinto, NFP
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