Managers and High-End Employees need a high-end HR service to subscribe to. Think Netflix, LinkedIn Pro, Dropbox, etc.
"It seems like nearly every tech business has sought to employ a subscription model for its services. While that makes sense from a business perspective, I wanted to investigate any effects of subscription fatigue on consumer commerce – questions such as whether a service like Dropbox might be on the chopping block if consumers’ wallets are stretched. I discovered that consumers have mentally budgeted over 240 percent more for monthly subscriptions than they’re currently spending. More importantly, they actually underestimate the amount they spend each month, supporting the notion that once locked in, consumption becomes painless.
I conducted the survey at business programs at the University of Chicago, Northwestern, Berkeley, Columbia, and the University of Pennsylvania. The survey reflected more than 100 opt-in respondents, 96 percent of whom are between the ages of 23-33. Though significant, the sample is not representative of a diverse national audience. Rather, it represents a tech-savvy, early-adopting and fairly affluent class, and a frequent early-adopter target. Polling stemmed from a personal curiosity about consumer subscription fatigue. While I am aware that my findings are not demonstrative, it’s my hope that they spur additional research into the subject.
Across the sample, respondents estimated spending $18.65 per month on current subscription services, such as Amazon Prime, Dropbox Pro, Spotify, etc., but noted a willingness to spend over $45 monthly long-term. Specifically, 86 percent of people noted an interest in increasing spending with only 5 percent suggesting they plan to cut back."
So the tech affluent class has no issue subscribing to digital services, and actually has more capacity to spend. Why would they not subscribe to a high end, digtially delivered HR/Talent/Management service that helped them reach their potential in the workplace as individual contributors or managers? Also - what's happening with these folks is just the canary in the coal mine. These are the same people who were early adoptors to Netflix.
Think Netflix is just for techies anymore?
If I were going to build a subscription-based model in the HR space, I think it would have to be focused on making managers of people better at what they do. That's the point in most people's career where they look up, say "oh @%@*" and realize they're not the immortal they thought they were - they need help. And companies are willing to pay to help them.
It's also the void where no source exists with a very approachable voice - talking like real people talk, being street smart, digitally savvy, etc.
Build it and they will come. But not if you do it in a lame way. It would have to be real. And that's why it will remain an opportunity for a long time to come - no one has the guts to talk like real people talk when it comes to managing people.