Essential Guide

A guide to talent management tools and trends

This guide explores talent management software and best practices, with insight into the impact of emerging trends like cloud HR and analytics.

Introduction

The war for talent rages on. With the market for quality workers becoming increasingly competitive, executives are making their company's human capital a top priority. HR leaders have more information at their fingertips than ever before and have turned to analytics tools to find, hire and retain the best talent. Companies also want to implement performance management technology to appeal to an increasingly collaborative and tech-savvy crop of new workers.

In this guide, we explore the four pillars that make up talent management, and its potential benefits. These four functions are recruitment, performance management, learning and compensation management. The recruitment module helps HR to attract qualified candidates and keep track of resumes through an applicant tracking systemPerformance management enables managers to define and monitor employee goals. Learning tools aid with onboarding, provide employees with training materials to improve their performance and keep track of skill progression. Compensation management connects performance to pay and makes sure that every employee is paid correctly.

Talent management software unifies these four functions, although a number of products from niche vendors specifically address one or more of these areas.

Read on to learn more about talent management tools and trends.

1Evaluating requirements-

Could your company benefit from talent management software?

It's often difficult for companies to keep track of their staff's goals or skills in a meaningful way. This can lead to employees feeling slighted when they are not properly recognized for their efforts. When frustrated workers resign, the business is forced to spend time and money to recruit and train new employees.

Talent management tools can bolster employee retention by explicitly documenting goals and rewarding success with pay-for-performance compensation management. The recruitment function allows companies to hire the right workers from the start, which experts say can lead to a stronger workforce.

These articles take a closer look at the ways companies can benefit from talent management software.

Feature

The science of talent management software improves hiring

Creating successful hiring and training programs can be challenging. To meet the challenge, companies are turning to talent management software. Continue Reading

Feature

Talent management systems are revolutionizing HR

With the help of new software, personnel departments have moved from collecting old-school performance reviews and benefits sheets to more valuable work: cultivating skills inside and out. Continue Reading

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Improving the onboarding experience with HR software

Take a look at how one company's project for new hires mirrored its HRIS manager's personal journey. Continue Reading

Feature

Recruitment marketing can rebrand the hiring process

More companies are using branding, market analysis and targeted messaging to attract and retain top talent. Continue Reading

News

How an HR services company benefited from EPM software

A global provider of temporary workers saw long-term benefits with Tagetik enterprise performance management software for financial consolidation and currency exchange rates. Continue Reading

2Choosing software-

How to match talent management tools to your company's needs

There are several important factors to keep in mind when choosing talent management tools, according to industry experts. HR leaders should first examine the workforce, taking into consideration the number of employees, their geographic locations and turnover rates. Any other software that the company uses, such as a CRM or ERP systems, should also be taken into account for integration purposes.

HR leaders should go into the decision process with a clear idea of what they'd like to accomplish with the aid of new software. Is the goal to automate manual processes, standardize a number of disparate systems or completely reinvent the HR approach? The answer will help HR managers choose the right talent management software to address the company's specific needs.

Find more detailed advice for selecting the right talent management software in the following articles.

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Consider this before investing in talent management tools

According to Hyoun Park, a principal consultant at DataHive Consulting, companies should approach a talent management suite purchase from four angles: tech, people, strategy and change tolerance. Continue Reading

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Develop a talent management strategy before buying software

In one of IT's most saturated markets, organizations need guidance before buying. Here are five tips to help make shopping more fun. Continue Reading

Tip

How to find the right talent management features

Buying a new talent management system? Make your vendor shortlist with the help of this expert tip. Continue Reading

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Look at talent management in the broader HR software scheme

HR software expert Mary E. Shacklett helps you determine must-have features and functions when buying HR software, including talent management tools. Continue Reading

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Choosing the right HR tools for your company

Here are some of the top HR tools and tips for determining which option may be best for your organization. Continue Reading

3Overcoming challenges-

System integration, training are essential to talent management success

Talent management tools won't resolve employee recruitment and retention issues by themselves. Companies need to develop a clear plan to navigate talent management pitfalls.

For example, because integration across modules is one of the greatest challenges cited by talent management software users, experts suggest that business leaders identify which of the four pillars is the most crucial for the company, and then choose a system that is strongest in that area.

These articles focus on the challenges of implementing talent management software, with some expert advice for overcoming them.

News

Red Hat mines talent acquisition software but finds lack of integration a challenge

Gild Source talent acquisition software is easy to use, but sometimes recruiters at Red Hat don't access it as much as they could because it is a separate system. Continue Reading

Tip

Five tips for launching a talent management system

HR knows talent management software can help attract and retain staff. But without a well-developed project plan, the benefits may not be realized. Continue Reading

Opinion

How to start resolving the IT skills gap from within your company

It's time for IT executives to stop pondering the IT skills gap and adapt leadership, training and recruiting styles to resolve it. An IT and business strategist explains how. Continue Reading

Tip

Don't forget about training

With any HR software implementation, training is key to employees adopting the system and using it to improve business processes. Here is what to keep in mind. Continue Reading

4Emerging trends-

How social, cloud, analytics affect talent management

Social media, the cloud and analytics are changing talent management software and the way companies use it.

Vendors are revamping their recruitment modules with social features, adding collaborative capabilities to learning and implementing 360-degree feedback into performance management. Software as a service HR products are also on the rise, and talent management systems are leading the way. Low upfront costs and automatic upgrades are two key benefits of using cloud-based software, and HR managers are taking notice.

The cloud also allows companies to access more integrated data about employees. Analytics tools help companies make more informed decisions across the talent management spectrum.

The following articles explore these trends and their growing implications for HR departments.

News

Social media behavior, cloud among HR trends shaping future

A new report from Constellation Research explores developments that are vital to HR's future. Read a Q&A with report author Holger Mueller, a vice president and principal analyst. Continue Reading

News

Data analysis, engagement spur interest in talent analytics

Technology markets are consolidating, and most of the new HR platforms are in the cloud. Companies can access much more data about their people than ever before. Continue Reading

Tip

Companies move ERP, HR functions to public cloud services

Two use cases suggest moving to public cloud services is no longer a choice; it's a reality of doing business in the 21st century. Continue Reading

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Analytics tools model future for hiring managers, HR software

Infor, Cornerstone and Workday are among HR software firms buying smaller companies to gain a foothold in predictive analytics. Continue Reading

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Employee assessment software matches job hopefuls

Software uses brain games to distinguish people and connect them with employers that are looking for applicants with preferred character traits and values. Continue Reading

5Glossary-

Important talent management terms

Here are a few more important terms that overlap with talent management.

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