Consider: It's not necessarily that an employer has a performance management problem or, say, a learning management system problem. We must strive to marshal the discrete domains of human capital management, the silos, as one multidisciplinary instrument to solve employers' people-related needs and challenges. This is the high-level strategic value in industry-specific and industry-tailored suites for HCM, in my opinion. They help us think about HCM more holistically. They help vendors and users alike of technology for HCM break free from silo-think.
There's plenty additional value, as well, for the industries these tailored HCM suites address. Software-as-a-service provider isolved recently launched People Cloud for Healthcare Services, a version of its HCM software suite exclusively for employers in health and medical services. To discuss the new product (and accompanying professional services) James Norwood, chief marketing and strategy officer at isolved, joined us for this episode of the #HRTechChat video podcast.
"Once you're in a battle for talent, and it becomes a seller's market, then you do have to invest in these things," James says. He's speaking of the perennial need for registered nurses in healthcare and the need to combat and address this with people-focused solutions.
RNs are always in short supply, it seems. It's a top-of-mind challenge in the health and medical services space. The pandemic has only exacerbated this shortage to become even more acute (if that was even possible). The vendor's own research shows 100 percent of HR leaders in assisted living facilities saying its hard to retain RNs.
You read that right, by the way. In a large isolved-initiated survey of many subsets of the healthcare space, yes, all the HR leaders working in assisted living reported difficulty in retaining talent. It's indicative of the urgent and deep challenges related to employing people in the healthcare space.
"What is isolved doing? We're helping on some of those things," James says. For healthcare-related employers, through the new healthcare-focused version of the suite, "we're helping with people getting onboarded. We're helping them get compliant. Our learning management system has very industry-specific certification training courses, which will automatically notify people in advance when a particular certification might be coming up to expire. So there's lots of things that can be done to work with employees, to make them feel like they have more control in their own destiny."
The new version of the suite does a number of things to address the idiosyncrasies of healthcare employers' people-related needs, and we recently published our analysis of the People Cloud for Healthcare Services launch. I encourage you all to watch this episode. James and I delved deeply into the rationale behind isolved's decision to launch this new version of its product, how it helps, where the vendor looks to tackle industry specialization next, and much more.