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#HRTechChat: The Conditions for Entrepreneurial Innovation

Invention without a mother leaves out the necessity. So it might seem. And innovation without the conditions for success is futile. So it is, probably. Nonetheless, smart, creative people—they constitute an ingredient for innovation in anything, and you can’t always stop them. Innovation consumes entrepreneurship. But, sans the conditions that call for innovation, the ingredients to bring about innovation serve no purpose. Or do they? Sure, to innovate for innovation’s sake seems like an exercise with little application. But smart, creative people might see the necessity that others take too long to notice. It’s the sweet spot for entrepreneurial innovation. In the right marketplace, entrepreneurial innovation finds success, and entrepreneurial innovation in the marketplace for human capital management finds a forum in #HRTechChat Episode Thirty-Two.
Did you miss last week’s #HRTechChat and its preview? From a different angle, we approached innovation, this week’s topic, by employing tarps, tent stakes and bungee cords as we toiled against the wind against the backdrop of Maine’s beautiful Northern Woods and Mount Katahdin, the final leg of the Appalachian Trail. OK, OK, who are we kidding? There was a lot of wind, but there was little toil to speak of. Just look at that scenery.
What Do You Need for Successful Entrepreneurial Innovation of the HR Tech Kind?
Before the camping trip to Maine that inspired an #HRTechChat metaphor that had to do with Making Good with Good Enough, #HRTechChat Lead Co-host Brent Skinner (@brentskinner) conducted a wide-ranging interview with David Ossip (@dossip), founder of Dayforce (@Dayforce), which Ceridian acquired in April of 2012, retaining David to form a division within Ceridian (@Ceridian_US) called Ceridian Dayforce. At the helm of Ceridian Dayforce, David has led a team to launch Ceridian’s new, comprehensive SaaS application, Dayforce HCM.
Brent’s conversation with David yielded a wealth of fodder for a profile of David, which Brent is writing for the October issue of HRO Today. David’s story is a case study in uncommonly stellar entrepreneurship, a discipline and vocation that thrives on innovation. During their call, David shared what he believes to be the conditions for success in entrepreneurial innovation, in any technology:

  • Market Size—the larger the market, the greater the potential demand will be for the innovation.
  • High Volume of Transaction—the large, targeted market generates a high volume of transactional activity.
  • Rule Complexity—a pressing need to sort through those transactions’ data, which must adhere to many rules, begs for a technological solution that eases the attendant labor.
  • Need for Analytics—the targeted market has a long-tail of data that, in its raw form, makes little sense, but benefits from interpretation, which technology assists to make those organizations more efficient.

"Then, if technology has changed,” says David, “something has changed in the available technology, such that you can process data quicker, analyze it better, and make it more convenient for people to use, then you've got an opportunity to enter the market with a new product that utilizes that new technology, which will generate significant benefits to the users who adopt that technology."
#HRTechChat Episode Thirty-Two: Join Us on Fri 9/21 @ 2pm ET / 11am PT
In other words, the HR marketplace is ripe for successful entrepreneurial innovation in technology. And we’re seeing it. We’re entering an age of fast-paced change in technology—e.g., the cloud, mobile, artificial intelligence, and more. But how much of the innovation in HR technology occurs because the masses see the need at least from 50,000 feet, and how much of it occurs despite the myopia of the masses? For that matter, how much so-called innovation is a result of the innovators' own myopia? THose are good questions, and versions of them reside alongside several others below. @TalentMgmtTech will start tweeting each, in order, around 2pm ET / 11am PT on Friday, Sept. 21:

  • Q1: What are some other necessary conditions for successful entrepreneurial #innovation in #hrtech? #HRTechChat
  • Q2: What are the 50,000-foot pain points in HR technology, which everyone sees? #HRTechChat
  • Q3: What are the needs few people are seeing in HR or recruiting, which innovative #hrtech could address? #HRTechChat
  • Q4: What HR technology company today should be at the @HROToday Forum Europe iTalent Competition & why? #HRTechChat
  • Q5: Describe a time you saw entrepreneurial innovation in HR tech occur without the conditions for success. #HRTechChat
  • BONUS CONVO: We’ll do this every week for a while: Do you have a suggestion for a future #HRTechChat topic? What is it?

iTalent Competition—Accepting Nominations till Oct. 1
Speaking of entrepreneurial innovation in human resource technology, on Wednesday, Nov. 14, the HRO Today Forum Europe in Dublin will host the European iTalent Competition. Startups and established companies alike whose technological innovations are improving HR and recruiting are welcome for nominations until Monday, Oct. 1. Then, on Friday, October 5, 2012, the top five entries will be selected to compete, and an announcement will go live soon thereafter. In Dublin, a judging panel will ask the contestant questions. Following the presentations, the audience there will vote to select the winner, who will enjoy several perks, including a feature article and free ad space in an upcoming issue of HRO Today.
Join Us This Friday
#TChat World of Work is a partner of #HRTechChat, and #TChat's co-founder, Meghan M. Biro (@MeghanMBiro), alongside Brent Skinner (@brentskinner), tech editor for HRO Today, are co-founders of #HRTechChat. And the tweeting powers of Sean Charles (@SocialMediaSean), co-host at-large, help to keep #HRTechChat’s stream humming. Please tweet with us this Friday, Sept. 21, at 2pm ET / 11am PT.