Talent Management

A successful workforce is the base of a successful business. With the help of talent management software, companies can hire top candidates and foster advancement in their employees.

A talent management system helps human resource departments attract and retain skilled people and assists in HR processes throughout a person’s employment. Once hired, learning systems and performance initiatives will shape employees as career professionals. These tools streamline HR functions that may be difficult to complete on existing systems.

No need to lean closer to the screen, you read that title right: you should pay more for your talent management system.

Of course, there are exceptions. If you’re paying $3,000 per user per month, your TMS is probably working wonders for you (or at least it should be). But if like most businesses, your talent management budget doesn’t exactly fill a Brinks truck, you’ll want to increase it.

Employees are the lifeblood of any company. Your entire business may thrive or crumble depending on how qualified, motivated and hardworking your workforce is. They also need to share the company’s values and understand the bigger goals that you’re working to achieve.

But finding the right employees is no easy task.

If you’ve read our last predictions article on the 2018 LMS predictions, you will probably start to notice the emergence of a pattern of thought that is gaining a foothold in the boardrooms of corporate management organizations. What do we mean by this?

Succession planning is typically defined as “a process for identifying and developing new leaders to replace old leaders when they leave, retire or die.” As stated, this process sounds logical and forward thinking, from a business perspective. Assuring smooth leadership transition is vital to a company’s continued prosperity, especially in a time of complexity and uncertainty in the business environment. And yet, despite the overwhelming agreement among executives that leadership issues are of the highest priority, a very low percentage of companies (about 14%) have enacted a strong succession planning process for their businesses. Furthermore, among those companies that do claim to pursue a succession plan, the failure rate of newly assigned leadership is very high.

Every business is only as good as its employees. You have to have the right employees on board at all times, or else your business risks failure. This means that you need employees who aren’t only talented and hardworking, but thrive in your corporate culture and share the same ideals as your business. These employees believe in your mission, your goals and that, in the end, your business will succeed.

How do you manage the appraisal process for your employees? Do you use sophisticated appraisal methods that make communicating with, and tracking the performances of, your employees easier? Or do you informally evaluate them without much of a performance management process, while providing occasional feedback?

Employee offboarding (also known as employee exit management) is a term used to describe the process in which an employee leaves a company that he/she previously worked for. It lays out the formal process that surrounds an employee’s exit from an organization, whether it be from voluntary resignation, layoff or termination.

Oddly enough, one of the best quotes about corporate recruiting didn’t come from an HR expert. Instead, it came from famous oil well firefighter Red Adair. Adair captured the importance of recruiting in just 11 words: “If you think hiring professionals is expensive, try hiring amateurs.”

For contemporary recruitment teams, hiring can feel a little soulless at times. There’s a huge emphasis on social media, with platforms like LinkedIn leading the charge when it comes to talent spotting. The problem with a completely digital approach, however, is that it favors quantity over quality.

Google’s launch, on July 18th, of a new recruiting app called Hire came just weeks after its job hunting initiative launch on June 20th. Google For Jobs functions like a search feature on its search result pages that allows you to search for jobs across most of the major online job boards like LinkedIn, Monster, WayUp, DirectEmployers, CareerBuilder, Facebook and others.

It’s been said that the only two things that stay the same are death and taxes. But these days, we think one more thing should be added to the list: innovation. Technological advancements are happening faster than ever before, which means we, both as a society and as employees, have to adapt just as quickly.

Companies of all sizes can benefit from a succession planning strategy. A succession plan process involves the identification and development of new leaders within a company, with the aim of replacing old leaders when they leave or retire. Succession planning typically involves the development of high potential employees who could become successors to the organization’s important leadership.

In today’s digital world, privacy issues are often less straightforward than we would like them to be. There’s a lot of complexity surrounding technology, security and surveillance-related company policies, including policies of employee monitoring.

The compensation your staff receives for working for you is the “reward” they get for spending their time and energy to meet your organization’s goals. You need to be able to quantify the contribution of your employees and compensate them appropriately to keep them motivated.  Doing so is the basis of compensation management. Compensation management also involves facilitating the systems, processes, and procedures used in compensating your employees.

Currently, so-called ‘Millennials’ (also known as Generation Y) make up the largest proportion of the American workforce. While they are often the butt of the joke, with their kale smoothies and penchant for skinny lattes, the fact of the matter is that millennials are powerful.

Stop us if you’ve been here before: you’re looking to hire a for a new position, so you publish a job posting.  You put the job description on your website, social media, and on a few job boards.  You look the next day, and you already have a hundred resumes submitted from job seekers.  A few days later you have hundreds more, and you have to close the posting just so you have some semblance of a chance of sorting through all those resumes.  You then spend the next week in a whirlpool of resumes, cover letters and references before finding your shortlist of candidates to interview.

A Learning Management System (LMS) and a Learning Content Management System (LCMS) are two very different types of HR technology.  Although they both tend to be modules available in talent management software, they each fill different roles in administering online educational tools to a workforce audience.  But the use of one or both of these modules is a strong business strategy that can help improve employee engagement and be used as an advantage in the recruiting process.  To see the differences between these two HR solutions, let’s compare LMS vs LCMS.