Managing talent manually is a tedious task for the HR manager after their company grows to a certain size. This is where talent management software comes to the rescue. Having a talent management system at your organization doesn’t only help the HR manager with their additional tasks but also helps the employees in the company improve themselves from time to time and understand their part in the bigger picture.
What Is A Talent Management System?
Talent management allows HR managers and companies manage their talent effectively and achieve their business goals. It covers various aspects of managing talent like: Recruiting, Onboarding, Goal Setting, Employee Feedback, Performance Reviews, Employee Learning And Development and Compensation Management.
Usually, talent management software consists of various modules that represent the different responsibilities of HR managers and team managers in general. Based on your priorities and budget, some software allows you to choose the modules that you need the most and only pay for them.
Benefits Of Implementing A Talent Management Software
If you are looking for reasons to implement a talent management software at your workplace, here is a list of benefits of talent management software at your organization:
Automation And Optimization
Digitizing talent management allows you to automate and optimize all the HR processes involved from recruitment, onboarding, performance reviews, learning and development and career planning for employees. This helps the HR managers gain insight into where the workforce excels and where they need help.
Did you know that HR managers spend an average of 210 hours a year on performance management? Implementing a talent management software helps HR managers save the time that they spend on all these processes manually.
Data Accuracy And Transparency
Accurate data plays a huge role in any decision that the management wishes to take. It is also important for employees to be able to access this data so that they understand their contribution and importance of it.
According to a study from Deloitte, 84% of business and HR leaders view people analytics as important or very important, and 79% are likely to use data in their hiring process. Talent management system is one of the solutions for this issue. Digitizing talent management drives transparency of data as well as data accuracy.
When employees understand the importance of their role in the company, they tend to stay engaged and productive at work. According to Gallup, companies that they’ve consulted with that ultimately implemented a process to improve employee engagement have increased their employee engagement rates to at least 75%.
Employee Development And Retention
One of the biggest drivers for employee engagement is employee development opportunities at work. A talent management software gives employees an opportunity to learn and reinvent their talents constantly. This also helps you retain your talent and improve their skills. This helps your employees plan their career in the long run and this approach keeps your employees loyal to you and stay productive at workplace.
Choosing The Right Talent Management Software
Every software which is being implemented for the first time in an organization should be easy to understand and use. A talent management software should be simple enough to be understood by employees without any specific training.
There are many talent management software available online; most of these can be used on a free trial basis. So, before you purchase a software for your organization, try it out and understand how easily the software can be implemented. Let your employees also try the software so that you can choose the one that best fits your organization.
When choosing talent management software, it is absolutely vital to have a software that aligns with your own expectations about talent management. It helps if you have a list of what you would like to change in your talent management process or what you want to introduce to it.
If your list of requirements includes, a flexible and customizable performance module, integration with other secondary modules, a learning and development module, then you should look for software that fits those needs to a T. Because it is absolutely possible for software applications to be great in every which way and yet be completely unsuitable for your own organization and talent management culture.
Another very important thing to consider when choosing a talent management software is the security of your information. Talent management in general includes all the details about employee management, like their addresses, their salaries, their job details and other sensitive and confidential information that could cause a lot of damage if leaked or if it falls into the wrong hands.
So, when you are choosing a talent management software, be sure to ask the potential vendors how secure your data is and how the information is protected.
P.S – Information security laws vary from country to country; so be sure to pick a software that follows the security laws of the country your organization belongs to.
If you want to know more about Engagedly’s talent management system, request for a live demo and talk to our experts!
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