5 Tips to Successfully Evaluate Total Rewards Software

5 Tips to Successfully Evaluate Total Rewards Software

As with any type of technology, total rewards software requires evaluation to determine whether it’s the best fit for your company. Some of the primary factors to weigh are the cost of the software, configurability, usability, and integration with other systems.

In an HRsoft poll, usability and integration with other systems were tied as most important at 40% each among survey responses. Configurability came in third at 11%, while cost was ranked least important at 9%.

While it’s true that configurability will impact the success of your total rewards program to some degree, this typically only presents issues if the configurability of the system is low to begin with.

Integration becomes an important matter when you consider how you’ll send core employee records from one system to another.

That leaves usability as the single most critical component of a software evaluation. Why is it so important? Consider this: after all the resources you use to select, roll out, and implement your new software, it will simply collect dust if it isn’t usable. That would lead people to revert to the old, manual ways of doing things, resulting in increased inefficiency on top of the time and money you spent.

Finding the perfect solution may require a time investment upfront, but it’s worthwhile. Making such an important investment in your company’s engagement and retention strategy necessitates careful evaluation. Here are five ways to make it go smoothly:

  1. Focus on The Future
    Don’t just think about your current needs; look towards the future. How do you want employees and managers to be able to interact with the software one year for now, or even three years down the road? Make sure that the solutions you’re considering will continue to meet your needs.
  2. Survey Employees & Managers
    Get teams’ perspectives about what they need, as well as what they want. What types of abilities do they need to have in terms of accessing information? For instance, if your workforce is made up of contractors or freelance workers, they need to be able to access information just as easily as your onsite staff. Choosing an application that can be used from anywhere will increase the odds that employees will use it.
  3. Use Demonstration Scripts
    Vendors use demonstrations to illustrate what their solutions can do, but instead of taking the backseat during exchanges with potential vendors, make sure you’re driving the demonstration. Ask vendors to show you their tools in relation to your requirements.
  4. Include Users in Sandbox Evaluations
    A “sandbox” evaluation is one in which teams can actually go in and look at or use tools themselves. Think of it as a “hands-on” Make sure that your intended primary users can become accustomed and comfortable with the software. Again, usability is paramount.
  5. Seek Out a Vendor-Neutral Consultant: If you plan to use a consultant to guide you in selecting the best software to meet your needs, make sure you’re working with one who’s vendor-neutral. This means that they won’t receive cash compensation for referring clients to a specific vendor, which works out in your favor. Otherwise, you could be steered towards a solution that isn’t necessarily the best out there for you – but winds up putting cash in the consultant’s pocket.

 

By following these steps to carefully select your total rewards software, you can ensure your chosen solution will deliver the greatest possible ROI and work for everyone in your organization.

HRsoft is a leading provider of strategic talent management software that improves manager effectiveness and business results. Our full suite of cloud-based HR software solutions includes applicant tracking software, compensation planning software, total rewards software, stay interview software, performance management software, and content management software. For more information on our Total Rewards Software, REWARDview, click the button below!

Learn More