A talent management strategy is one where activities related to people management are linked. A well-designed talent management program brings a paradigm shift in the way organizations function, and employees contribute to the role, development, and future of both the employees and the business as a whole. For many people, talent management software amounts to an expensive, complex and confusing system that is ideal only for large-scale organizations. Contrary to belief, talent management software can do wonders for even a small organization. It automates tasks and helps to build credibility as a conscious organization.
A talent management system or software is an integrated software program or platform that offers organization support to integrate human resource activities like recruitment, induction, performance management, learning and development, compensation and benefits, and succession planning.
Talent Management is different from talent acquisition. Talent Management is essentially supporting and helping the employee throughout his talent lifecycle- basically supporting their skills and knowledge during their tenure with the organization. With a robust process for talent management, organizations can ensure that employees get the right training, feedback, and opportunity to enhance their skills and knowledge to perform in their roles. With software-talent management, conducting tasks can become easier as it will include notifications, reminders, and suggestions for every single employee for the human resources department to monitor and manage.
Talent management software links the whole employee lifecycle and every other aspect associated with the employee. This makes it unarguably the most important toolkit for the human resource department. Talent management software can:
Good talent management software will take every stage of employee tenure, making the lifecycle an engaged and motivated exercise.
Some of the best Talent Management Software is made of tools that consolidate the various aspects of employee experience. A few of the tools that are incorporated are:
Applicant tracking system
These tools help to recruit and interview prospective candidates. It reduces paperwork by including job posts in collaboration with career sites.
Onboarding
Another term for induction is Talent Management Software helps to engage new hires with a solid induction program and follow-up to help new employees settle into their roles and improve performance.
Employee engagement
Talent Management Software helps to gauge the engagement of employees by conducting surveys to weigh sentiments, tools to identify and celebrate milestones and achievements, and feedback channels for employees to know their areas of improvement.
Performance management
Talent Management Software provides effective performance management templates and also incorporates 360-degree performance management reviews to help each employee, irrespective of their role, gain insight into their abilities.
Suggested: A Guide On Achieving Effective Performance Management
Pricing
$30 per month for annual plan
Free Version Availability
Yes
Suitable For
Small and Mid-size businesses
This application provides functionalities to track talent pipeline and keep employees engaged. It offers visibility to day-to-day performance for employees and helps in the performance management process. From submitting leave requests to streamlining internal planning and coordination, the application offers a robust system to manage employee wellbeing.
Key features:
Pricing
$99 per month for annual plan
Free Version Availability
Yes
Suitable For
Mid-Size and Large Scale businesses
The application offers a comprehensive full-service HR platform to streamline and simplify various aspects of the organization and its talent management processes. From compensation management, and payroll to training and development, organizations can benefit from Insperity. The application offers personalized guidance and tools that assist one in recruiting the right talent for the firm.
Key features:
Pricing
$85 per month
Free Version Availability
Mid-size and large-scale businesses
Suitable For
No
Another talent management application that helps to meet the requirement of a talent manager. The application offers components like recruiting, compensation, training, workforce planning, and performance management. It is ideal for managing employees working onsite or abroad. It also helps to scale up and reduce operations based on the needs of the organization.
Key features:
Pricing
$25 basic version
Free Version Availability
No
Suitable For
Mid-size and large scale businesses
A very intuitive and flexible solution it comes with a range of features to manage the hiring process for employee engagement. It also offers collaboration with career sites and social media channels. It offers Mobile AI engagement, application tracking, employee onboarding solutions, and candidate relationship management.
Key features:
Pricing
$25 per month
Free Version Availability
Small and mid-size companies
Suitable For
No
A wonderful tool that makes use of AI to find out data according to location. This real-time information helps managers to make timely decisions. It also offers a custom career site and social networks with help to enhance the recruitment and onboarding process. With customizable workflows and built-in templates, managers can design compensation strategies and manage benefits.
Key features:
Pricing
$8 per month per employee with a minimum of 1000 employees.
Free Version Availability
No
Suitable For
Large-scale businesses
A flexible tool for employee management it helps to facilitate talent review and succession planning. With the software, organizations can manage performance appraisals, compensation and benefits, goal and target setting, and career development. It also boasts machine learning and artificial intelligence functionality.
Key features:
Pricing
$25 per month for standard package
Free Version Availability
Yes
Suitable For
Small and mid-size businesses
The software is a complete workflow solution for recruiters. It boasts features that help managers to organize, monitor, and streamline the recruitment and hiring process. It helps to compile data from interviews, resumes, and other trackers associated with application processes. The data is compiled for managers to view the gaps and fill them efficiently. The software can also integrate with applications like Outlook. Google Apps etc.
Key features:
Pricing
$25 per month
Free Version Availability
No
Suitable For
Small and mid-size businesses
A comprehensive talent management solution, the software comes with a predictive analytics feature to help talent managers identify top performers. This helps managers to chart the professional growth and careers of employees and devise a plan for their career enhancement to improve chances of retention and reduce attrition.
Key features:
Pricing
$15 per month
Free Version Availability
Yes
Suitable For
Small and mid-size businesses
It is a comprehensive software package to help managers find talent and fill gaps. It features talent dashboards, candidate assessment, benchmarking of talent, knowledge performance index management, and career planning. The software also helps to budget compensation packages and automates workflows across different locations.
Key features:
Pricing
$6 per month
Free Version Availability
No
Suitable For
Suitable for all kinds of businesses
A flexible talent management software it comes with integrated cloud-based performance management systems. It also has different components for recruitment, human resource management, and employee development.
Key features:
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