How to Maximize the ROI on Your Latest Tech Investment

There are so many factors that must come together in the right place at the right time to see a return on such a substantial investment. One of the most important but often overlooked assets for implementing new technology is having the right people to bring it to life. Without the right talent in place, your business will never be able to meaningfully apply new advancements - making even a satisfactory ROI nearly unachievable.

What do I mean by “the right people?” Technical qualifications aren’t enough. There’s a myriad of hard and soft skills that effective implementers must possess to ensure the firm adopting this new technology sees a return on its investment. One of the most important and perhaps surprising skills your tech team should have is communication.

You need employees that are going to appropriately and effectively communicate the technology’s targeted impact on both short- and long-term business objectives and the overall enterprise value. This team will need people that can take complex systems, ideas and processes and boil them down to familiar, digestible terms to illustrate the benefits of adoption through specific use cases.

For this reason, hiring people who have experience on the user-side has historically proven to be a bonus - it ensures that they are able to articulate the problem they are aiming to solve since they’ve been in the users’ shoes before. Because of the time and money that goes into them, tech investments come with a lot of pressure to yield results.

That’s why the right tech team will also be comprised of datadriven decision-makers. These days, there is no shortage of information available to us. The challenge, though, is knowing what exactly to do with it. It’s crucial that the tech team implementing your new systems and programs is adept at filtering information to identify what is most relevant to their objectives.

They’ll also understand how the role of data can evolve throughout the process - it’s not just used to measure outcomes at the project’s conclusion. It can be leveraged to assess risk levels, identify gaps in efficiencies and much more throughout the entire process. The best tech employees will align upfront with senior leadership on defining what successful ROI looks like and have the communication skills needed to advocate for this point of view. Good employees know how to measure results - great employees know what results are worth measuring. Now that you know what you’re looking for in a team, how do you get them through the door? While it sounds like I may have just described a needle in a haystack, it’s much simpler than you might think. There is no magic combination of benefits that will appeal equally to every technology professional. However, there are some common themes my colleagues and I have identified within the field over time.

For starters, remote flexibility is essential. The pandemic years have proven that certain roles can be easily performed remotely or partially remotely. As a result, technology candidates are increasingly reluctant to commit to onsite roles. Companies that don’t offer remote options will find it very difficult to attract candidates. The desire for more flexible working arrangements is impacting salaries, as some candidates are willing to accept lower pay for the option to work remotely. One particularly effective model is to offer flexible hours to employees. Combined with two to three remote days a week, this can be a very attractive proposition.

Compensation is naturally a major factor, too. Professionals that possess both the hard and soft skills required to excel in a role involving tech implementation know that their proficiencies are rare and adjust their salary expectations accordingly. When trying to attract top-tier talent, it is important to understand an individual’s motivations as well as their personal circumstances, as it can inform how you reward them.

As is true for nearly every industry, a strong company is one that fosters teamwork, a sense of community and inclusion - leading to more employee happiness, satisfaction and engagement that also benefits growth and revenue for businesses.

Candidates are typically looking for more inclusive work cultures, so promoting the steps your company has taken to improve and enhance the overall employee experience will leave a lasting impression on candidates throughout the interview process.

Build high-performance teams with Phaidon International If you would like to find out more about how Phaidon International can help you secure the niche talent that will help you achieve your business goals, please get in touch at phaidoninternational. com.

-DYLAN PANY Managing Director, Head of Los Angeles and West Coast Region Phaidon International