Now you know, so how do you vet vendors?
So you’ve decided that exploring a partnership between your payroll processing firm and a human resources technology firm is worth consideration – now you just need to pick the right one! Here is a checklist to help you ask the right questions to determine which vendor will best assist with your clients’ recruiting software and/or employee onboarding software needs.
Questions to Ask About Your Potential Hiring Software Vendor Partner
- Is the vendor you are considering going after the same size organizations as you?
- Aligning yourself with a vendor that has the same company size target will allow you a better shot at meeting your clients’ applicant tracking and/or onboarding needs in terms of desired feature set (i.e. the porridge won’t be too hot or too cold). Going with a partner targeting larger organizations will likely leave your clients feeling overwhelmed by too many options – feature overkill plus inflated costs for unnecessary bells and whistles.
- Going with a vendor seeking clients with smaller employee headcounts may very well have your clients feeling like the applications do not meet their basic needs though the pricing may be attractive (i.e. you get what you pay for).
- Like Goldilocks, you want to find a fit that’s “just right” for you and your clients.
- What are your own support preferences, and what are your clients’ support preferences?
- What resources can the partner vendor provide to you when it comes to helping to demo software, close new deals and assemble proposals based on specific needs? The answer to this question depends on whether or not you will allow your vendor direct contact with your client.
- Be sure that you select a vendor that honors your wishes – whether you want to be “hands off,” or the gatekeeper of all communication. This will be discussed more in the last installment of this series.
- Be realistic about your clients’ support needs, too. On average, do they prefer a lot of hand-holding and phone support; or, do they like to submit all inquiries via email? How comfortable are they with new technology on a scale of one to ten? Understand how tech savvy your clients are and express this to your potential partner to ensure that the appropriate level of support is available.
- How long has the vendor been in business?
- Many technology firms come and go – and even some of the good ones are fairly new. Will your potential vendor be around to service your clients’ needs in another year? Know the vendor’s track record of success and longevity.
- Does the vendor understand your pricing strategy?
- You probably have a specific means to go to market and price your services to prospects. Be sure that your partner understands your pricing strategy and can configure costs to allow for a joint product offering that is reasonable to your clients.
- How do your clients hope to leverage technology to make their workflows more efficient?
- Make sure your partner’s product features meet the requirements of your clients. Determine whether your clients will need options like applicant disqualification filters, Outlook integration, ad hoc reporting, restricted system access for hiring managers, integration with external job boards, job requisition management, social media sharing, etc.
Other installments in this 3-part payroll partnership series:
Part 1: How do you know if this type of relationship is right for your firm and for your clients?
Part 3: What is my role as the middle man between the vendor and my clients?
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