The notion that people can be a crucial business differentiator is now well established, and in light of this, human resources technology has been taking off in recent years.
While most companies already use a human resource information system (HRIS) as a repository for employee records and basic information, many organizations are going a level deeper by adding talent management systems to their HR technology portfolios. Experts say talent management systems can help companies attract, retain and develop employees to the mutual benefit of both parties.
But what is a talent management system and how can adopting one enable a company to achieve these goals? Talent management systems are generally considered to be comprised of four modules, also called "pillars:" recruitment, performance management, corporate learning and compensation management. Integrated talent management suite vendors offer all four, but HR leaders rarely buy an entire suite at once. Instead, they usually purchase one to three modules at a time with the intention of building out the entire platform, according to experts.
This guide dives deep into each of the four pillars that form the foundation of a talent management suite. Each section contains expert advice about the benefits and potential challenges of implementing a specific talent module, as well as user tips on vetting the software and using it effectively. The final section puts it all together with information on end-to-end talent management suites and provides perspective on forces that are driving the market.
Recruitment software: Snag the best talent before your competitors do
Before HR managers can cultivate talent, they have to get high-quality candidates in the door. Recruitment software can aid the talent acquisition process by helping HR managers to research, source, communicate with and continuously engage potential job candidates.
The recruitment software market is extremely dynamic, and consumer technology innovations such as social media and video platforms have revolutionized talent acquisition tools. In this section, learn about the newest trends in recruitment software, and get tips on how to effectively source candidates in today's socially connected world.
Social recruiting is all the rage, but experts warn that recruiters need to plan and learn how to engage before jumping in. Continue Reading
Learn how recruitment leaders at GE and CH2M Hill continuously engage valuable "silver medalist" job candidates. Continue Reading
Discover which features the leaders at GE and Cigna were looking for in video interviewing platform vendors, and how they made their ultimate decisions. Continue Reading
The social sourcing market is hot, as evidenced by the acquisitions of Identified and TalentBin. Continue Reading
As organizations expand globally, HR expert Josh Bersin cautions that HR managers need to "glocalize," or tailor their practices to fit local markets. Continue Reading
Corporate learning: Develop employees to their fullest potential
Learning management systems have long been used to administer courses and other formal training programs. However, experts say that corporate learning is now branching out beyond rigid course delivery to a more informal and integrated experience.
This section delves into how and why the corporate learning space is changing, and spotlights companies that are embracing new ways of employee development. In addition, you'll discover what capabilities experts recommend keeping an eye out for when vetting new learning technology.
See why corporate learning professionals at Facebook and Google are focusing on millennial employee development and peer-to-peer learning. Continue Reading
At the HR Technology Conference, HR leaders explained how to ramp up collaboration platform user adoption and gave governance tips. Continue Reading
Those who say learning management systems can't support informal learning aren't effectively using new capabilities, according to one expert. Continue Reading
With free, on-demand learning content widely available online, corporate learning leaders should provide direction, said Human Capital Institute conference speakers. Continue Reading
Reinvention of learning management systems also bringing social UIs and mobility, said Bersin by Deloitte analysts. Continue Reading
Car distributor Toyota Motor Europe is using e-learning to manage the training and certification of motor technicians and engineers. Continue Reading
Performance management: Bring out the best in people
Most organizations have historically adhered to an annual formal review process, where an employee sits down with his manager to discuss strengths, goals and areas for improvement. But today, HR managers are realizing that the performance management process itself needs improvement.
In recent years, many companies have ditched the annual assessment-based review in favor of a more frequent, coaching-oriented model. Another significant trend in the performance management space is to involve more people in the review process, to supposedly get a more accurate picture of an employee.
Peruse this section to learn more about how prominent companies are using performance management technology to shake up their review processes.
Experts have long decried the downsides of the annual employee performance review model. Now it seems some HR leaders are taking heed. Continue Reading
In this discussion, Eric Mosley, CEO of Globoforce, explains why and how an organization should implement social performance reviews. Continue Reading
Find out why UnitedHealth Group encourages workers to drive their own employee development and ICF International revamped its onboarding system. Continue Reading
Oracle Fusion HCM Talent Management underpins Sandy Begbie's push to align employee performance with Standard Life's customer-driven business strategy. Continue Reading
In this feature, a user and an expert agree that companies need to pitch social performance management to employees to achieve the desired results. Continue Reading
To attract and retain millennial employees, many organizations are now going social with their performance review programs. Continue Reading
Compensation management: Reward appropriately and quickly
At many organizations, compensation management is handled in Microsoft Excel rather than dedicated software. But when spreadsheets become unwieldy, talent management providers offer compensation management modules to automate the task. In addition to reducing manual labor and potential for errors, experts say compensation management software adds visibility into bonuses and other employee rewards, which in turn magnifies motivation.
This section contains user and expert anecdotes that illustrate the benefits of compensation management software, as well as tips to sidestep common pitfalls.
In this discussion, Christopher Cabrera explains why companies should personalize sales compensation plans and limit performance measures to three. Continue Reading
Read how Draeger, a medical and safety technology company, increased incentive visibility and accessibility for its sales force by adopting Xactly mobile compensation management software. Continue Reading
Moving from Excel to compensation management software can save time, money and reduce errors, but organizations need to consider business goals before buying in. Continue Reading
5Four pillars, one suite-
Talent management suites: Support employees from hire to retire
As standalone, "best of breed" talent management technology wanes, interest in integrated talent management suites that contain all four pillars is steadily climbing, according to industry analysts. However, experts warn that "integrated" can sometimes be a misnomer, and many suites created through acquisition are often not as unified as vendors claim.
In this section, get questions to ask and considerations to make that are critical to successfully evaluating, choosing and implementing a talent management suite, and learn how to steer clear of integration snags.
According to Bersin by Deloitte research, cloud is now a top criterion for HR systems buyers, and user experience and analytics rank highly. Continue Reading
Lisa Rowan says HR leaders should gather talent departments together and collect feedback before consolidating on a single talent management system. Continue Reading
IDC says that while integration between modules in talent management systems is improving, list price is climbing to foot the bill. Continue Reading
Integration issues with talent management suites are best avoided by asking the right questions during the vendor selection process, users say. Continue Reading
HR technology is a booming market, according to Bersin by Deloitte. But even the best HR systems will fail if they're not implemented properly. Continue Reading
Although real-time integration between talent management and core HR systems is desirable, complexity often trips companies up. Continue Reading
An increasing number of human resources management systems are coming to market. What are the benefits? Continue Reading