3Sixty Insights set out this year to explore several phenomena in human capital management and the technology for it. The employer’s experience covered here provides a case-in-point of interplay between a few of these.
Point Solutions: Usual Suspects, Atypical Origins
Vendors of full suites for HCM have made significant strides with their end-to-end functionality, feasibly covering the entire spectrum of HR and related needs. Despite these vendors’ laudable work toward these ends, no full-suite HCM vendor can expect to be all things to all employers. In certain domains of the HCM landscape, the need persists; for some, it is the need for best-of-breed point solutions.
3Sixty Insights has found that talent acquisition is one of these domains, and the demand appears pervasive. Why? For many employers, a specialization or a niche in their software for talent acquisition is essential. A small business will struggle with a solution designed for the enterprise. A large law firm that needs to recruit polished professionals is underserved by a solution designed for high-volume entry-level hiring. There are other examples. For these and other reasons, many users must look outside their end-to-end provider’s suite to find solutions for talent acquisition tailored to their size, industry, or demographic idiosyncrasies.
City of Memphis Chief Human Resource Officer Alex Smith‘s story is inspiring. It also provides a compelling example of the necessary dance between leadership and technology when it comes to HR transformation and the organization-wide transformation that can follow. With Alex’s decision to implement Oracle HCM Cloud came a significant alleviation of the administrative load HR department-wide. This created space for her team to launch massive, successful efforts to change the employer culture municipality-wide. The infographic presents an easily digestible encapsulation of just what happened. If you haven’t already done so, be sure to watch the related #HRTechChat and read the case study.
Companies have benefitted from rapid deployment of cloud-based ERP. “Customization” once delayed legacy implementations, but now “Low/No Code” environments enable personalization and better adaptation to unique business requirements. As AI, IoT, and other acronym-rich trends increase the pace of change, rapid system updates and increased leverage of available capabilities become more and more valuable. Putting predictive, intelligent, and mobile capabilities into the hands of front-line resources will further increase the payoff. The Financials and ERP practice at 3Sixty Insights plans to explore these and other themes over the next 12 months:
- Concrete vs. Abstract Finance: A New Way for Organizations to Look at ERP
- Seeing Through the Haze: Where is Real Value in the Cloud?
- Data vs Information: The Rise of Analytics
- Enterprise Structure vs Line-of-Business Initiatives: Achieving Balance in Location of Power
- By the Glass or By the Bottle? It’s Not Just What You Buy, But Also How You Buy It
- By the Glass or By the Bottle Continued: Subscriptions Change Sellers As Much As Buyers
- How Technology Is Changing: ERP is Dead – Long Live ERP
- Transformation via Integration: It’s All Connected
New Press Releases and News:
Boston, Mass. – March 18, 2021 – 3Sixty Insights is pleased to share the names of executives at enterprise software vendors who recently became members of its Global Executive Advisory Council. As they collaborate to identify the trends affecting them amidst a world of sea-change, members of the GEAC may become part of 3Sixty Insights’ research, participate in the benchmarking process, and explore best practices with peers.
“With the Council, 3Sixty Insights wants to create dynamic opportunities for strategic decision makers, vendors, and other stakeholders in enterprise software to exchange knowledge around issues facing the industry and discuss successes and challenges in the selection, purchase, implementation, and use of this technology,” said Nicholas Biron, founder and chief executive officer of 3Sixty Insights. “Therefore, the Council has been created as a space where both enterprise software vendors and end-users can collaborate entirely outside the selling process.”
Chicago, Ill., March 25, 2020 – SilkRoad Technology, a global software and services platform that helps organizations attract, retain and align people to their business, announced Lilith Christiansen, Chief Strategy and Product Officer, has joined the 3Sixty Insights Global Executive Advisory Council. She joins product and business leaders across human capital management and finance and enterprise resource planning on the council.
3Sixty Insights is a research firm that provides organizations guidance on streamlining initiatives and perspectives across different business lines, from finance and executive management departments to IT and HR. “We are thrilled to welcome Lilith to the Council, as her deep knowledge and extensive background make her a great addition,” said Nicholas Biron, founder and chief executive officer of 3Sixty Insights.
3Sixty Insights is happy to announce that our #HRTechChat Series is now available as a podcast on the following platforms:
- Apple iTunes: https://podcasts.apple.com/us/podcast/3sixty-insights/id1555291436?itsct=podcast_box&itscg=30200
- Spotify: https://open.spotify.com/show/0eZJI1FqM3joDA8uLc05zz
- Stitcher: https://www.stitcher.com/show/3sixty-insights
- SoundCloud: https://soundcloud.com/user-965220588
- YouTube: https://www.youtube.com/channel/UC6aDtrRPYoCIrnkeOYZRpAQ/featured
- iHeartRadio: https://www.iheart.com/podcast/269-3sixty-insights-78293678/
- Google: https://podcasts.google.com/feed/aHR0cHM6Ly9mZWVkcy5zb3VuZGNsb3VkLmNvbS91c2Vycy9zb3VuZGNsb3VkOnVzZXJzOjkyNDY0ODI1OS9zb3VuZHMucnNz
New HRTech Chats:
With the picturesque Australian outdoors as his backdrop, Mike Erlin, CEO and co-founder of AbilityMap, joined 3Sixty Insights in the early morning his time for this episode of #HRTechChat. A fellow alum of Cornerstone OnDemand, Mike brings ideas that slot right into the future of work. Employers today have the tools to understand their organizational culture like never before. Mike delves into some specifics and explains why any company can ward off a plethora of related challenges before they even take root. Much of the way forward distills down to the deployment of the right psychometric instrument. But there’s much more to it, and if you enjoy geeking out on human capital management, then you’ll have fun following our conversation.
Nicole Roberts, vice president of people and culture at MVAH Partners, joined 3Sixty Insights for this episode of #HRTechChat. A member of the 3Sixty Insights Global Executive Advisory Council, Nicole started in her leadership role at MVAH a year ago, in March 2020 — just as the flurry of pandemic-related restrictions unfolded in the United States. The disruption profoundly affected the nature of her first several months on the job. On day one, for example, she took over internal employee communications. MVAH, a developer of affordable housing, has 7,000 units under its management across 15 states. The logistics around managing an already dispersed workforce suddenly under unprecedented, unique circumstances were significant and necessitated the expansion of her focus.
Joining us for this extra special episode of #HRTechChat is Mike Bollinger, vice president of strategic initiatives at Cornerstone OnDemand and a member of the 3Sixty Insights Global Executive Advisory Council. Mike and I have a shared history. It was Mike who recruited me to Thought Leadership & Advisory Services at Cornerstone OnDemand, where I learned a lot ahead of joining Nick Biron to co-found 3Sixty Insights. As always, Mike and I engaged in a wide-ranging and far-reaching conversation exploring the outer reaches of what might be possible in HCM.
Welcome to 3Sixty Insights’ latest #HRTechChat. SilkRoad Technology Chief Strategy and Product Officer Lilith Christiansen current vendor member of 3Sixty Global Executive Advisory Council joined us this week to discuss just how profoundly COVID-19 has affected the workforce and influenced philosophies moving forward around how we manage people and the direction of technology for human capital management. The idea that this pandemic has changed HCM is a well-worn trope, sure, but Lilith and I dug just a little bit deeper.
New Blog Articles:
Markets are easily distracted by Fintech news. Just the other day, I found myself meandering around the internet researching a series of Fintech acquisitions that amounted to fewer than $8M in 2021 sales to a single-billion-dollar shrinking dinosaur. I woke up mid-webpage with a major déjà vu headache wondering how many times we were going to read that very same story before we learned to save ourselves the time and the trouble. (The Highlander already knows the way these things ultimately work).
Okay, to be fair, and as Yum Brands knows, like their progenitor PepsiCo who spun them off, there’s usually at least two–right, Coca Cola? But there’s never 100, let alone 1000, let alone 10,000 in a market, like there are estimated Fintech startups these days. But when a giant like Yum! (over $17B in digital sales last year) makes an enabling technology play by buying a company or two or three, it’s time to take notice. Just this month, Yum! purchased Kvantum and Tictuk.
Since Hewlett and Packard first redefined the garage, billionaire new-tech superstars have taken on a succession of cultural fixtures. The vaunted Sears and Roebuck catalog is now Amazon. Both Encyclopedia Britannica and Rand McNally are now Google. And everything from town criers to daily newspapers is now found on Twitter, Facebook, and the like.
One similarity among these cultural sea changers is that they’re continually pushing the “real world” ever towards a digital doppelganger. Deeply in that spirit, David Baszucki joins Hewlett, Packard, Gates, Jobs, Bezos, Page, Brin, Zuckerberg, Dorsey, Musk, et al. etc. ad infinitum in the pantheon of new-tech billionaires. But where predecessors have repeatedly erased real-world institutions and interactions, Baszucki’s Roblox is firmly embracing them in an entirely new way.
We’re halfway through March 2021, and the spring fever is extra intense — at least twice as intense as normal, it seems. Think about it. Your employees have been in some form or other of COVID-19 lock-down since late Q1 of 2020, when the novel coronavirus arrived to rob them of perennially much-anticipated fun in the sun, exercise at the gym, spring cleaning, live concerts, and all the rest. And, depending on your industry and the demographics and purpose of your business and workforce, many or most have been working from home all this time. Even work has kept them home, in other words, and whereas some of your staff have enthusiastically embraced this, as they see their home as their own little oasis, others have struggled. Small apartments, home schooling, financial and health issues, and the rest of their lives have conspired to take their toll on your teams.
This year the spring fever is a full-throated cabin fever, yes, and brings to bear the force of two long winters and a global pandemic. People want to get out. People need to get out.
Intellectual Property (IP), like music and video content, intersects with Software as a Service (SaaS) in every meaningful way. It’s fascinating to see so many threads knitting themselves together in the headlines from one single week.
News about FinTech companies, like Jack Dorsey’s Square, is generally limited to the business section. In contrast, music streaming services, like Jay-Z’s Tidal, are everywhere but. Yet there is Jay-Z’s picture all over the Wall Street Journal. The Venn Diagram of those two worlds is usually like peering through a giant pair of blurry binoculars.
This blog recently covered performance reviews and the future of work. Specifically, we explored why annual performance reviews will — eventually — become a thing of the future’s past. Part-and-parcel of this is the inexorable march toward workforce agility, which will spur — also eventually — self-forming teams, an attendant demise of the role of manager and extinction of job titles. Where do the conventional instruments we’ve known for evaluating employees sit in this vision of the future of work?
We might not even call them employees or workers anymore. I’ve heard the term “contributors” bandied about and like it. Through advanced artificial intelligence, this will look nothing like the contentious relationships between so-called gig workers and the likes of Uber et al. Regardless, we humans certainly won’t be the ones doing the evaluating anymore. So, just as the annual performance review will become irrelevant in the future of work, so, too, will the traditional resume.
Think of what a newborn needs. A newborn needs someone to feed it, change its diapers, and just plain old keep an eye on it. Newborns need food, diapers and hugs — all of it, and more. Scientific studies prove the hugs play a big part in their ability to thrive. And so it goes with adults in the workplace. They need more than pay. They need recognition, the metaphorical hugs for professional settings. There’s plenty of research to prove it. Go to your favorite search engine and poke around.
Put differently, there are two hemispheres to human capital management. One is concrete, and the other is abstract. Just like a baby needs concrete things like food and diapers, an organization’s employees need their pay and a workplace compliant with the law. And, just like a baby needs abstract things like hugs, whose benefits to the baby may not accrue right away or be as readily apparent, an organization’s employees need recognition.
3Sixty Insights team to host the first of two Symposium’s for our Global Executive Advisory Council in 2021. This event will be held on May 13, 2021 and will be completely virtual, and is private to 3Sixty End-User Executive Advisory Council Members only.
To be considered for our Global Executive Advisory Council, you can fill out an application here: https://3sixtyinsights.com/about-us/global-executive-advisory-council/
Join 3Sixty Insights Co-Founder and Director & Principal Analyst Brent Skinner and over 6,000 attendees at UKG’s Spring HR and Payroll eSymposium, as he presents on his one of his core research initiatives of 2021: Concrete and Abstract HCM: You Need Both. Dates and registration information to come shortly.
Join 3Sixty Insights Co-Founder and Director & Principal Analyst Brent Skinner as he attends the upcoming isolved Connect user conference in Miami, Florida September 20-22, 2021. Register on the isolved Connect website: https://www.isolvedconnect.com/
Join 3Sixty Insights Co-Founder and Director & Principal Analyst Brent Skinner, as a Influencer Panelist for Pitch/Briefing Sessions at HR Tech Advisor’s monthly Collaboration Zones. More information on the monthly events and how to register can be found on the HR Tech Advisory website: https://hrtechadvisor.com/ or by downloading the follow Google Document: https://docs.google.com/presentation/d/e/2PACX-1vTQmrRSBlYbj2mPr1XOHR6FX-OTFL5U9NZ_mWgXla1ilmYcm5nrd640GjnZN7DBJz6dk_jX9NOoFMdI/pub?start=false&loop=true&delayms=3000#slide=id.gae70fd2e00_0_0
This event is sponsored by HR Tech Advisor