Greater flexibility, enhanced productivity, stronger ROI. The argument for an HCM cloud upgrade should be watertight. But for many HR leaders, the onus falls on them to make a convincing business case and win the support of key stakeholders.
So how can you develop a convincing business case for the cloud that counters common stakeholder concerns? Read on, and take your first steps toward making a business investment that can take your organization into the future.
1.Identify business objectives and align advantages.
Why upgrade?
Stakeholders will want to know how investing in cloud technology aligns with current business objectives. Identify key drivers and expected benefits beforehand to convince stakeholders that an HR investment aligns directly with business strategy.
2.Detail risks versus benefits.
The short-term versus the long-term.
Be ready to address your stakeholders’ key concerns. These may include lack of budget, data privacy, and defining the future of HR. By addressing concerns upfront, you’ll be better positioned to facilitate discussion and preempt objections.
3.Set realistic expectations.
Sell only what you can deliver.
The benefits of the cloud are widely touted, and some stakeholders may have overly optimistic expectations. Your business case should explain the solution and the expected outcomes so that everyone is on the same page.
4.Demonstrate ROI.
Show me the money.
Better employee UX, increased productivity, and improved data consistency are common benefits achieved with a cloud solution. Align these benefits with your business objectives to demonstrate how cloud technology can affect the bottom line.
5.Determine priorities.
Which stay, which go?
A realistic business case will address which processes will be upgraded first and why. For example, if your key motivation is to improve employee retention, you may choose to upgrade talent-management activities to the cloud first.
6.Choose an upgrade path.
The new and the familiar.
Whether you choose to retain some processes on premises or rip and replace your current platform entirely, you’ll want to recommend a path to the cloud and a timeline for completion that makes sense for your business.
To learn more about building a business case for the cloud, download this guide.