Talent Management software helps human resources departments to meet specific objectives. In a competitive business world, these departments are tasked with helping companies attract and retain some of the best and brightest people in the field or industry. There are many ways that talent management software helps bring skilled people into the fold, shape them as career professionals, and present opportunities, while effectively keeping people engaged and loyal to the business.
Check out the best Talent Management Software vendors, and kickstart your search with comparisons and ratings.
If you’re in the market for talent management software, you need to be informed of what all it can do. We put together a list of talent management software features to look for while evaluating vendors:
A major part of career advancement involves continuing education and professional development. In Talent Management software setups, Learning Management tools help to document and benchmark many of these types of learning. They help to demonstrate where professionals have gained experience, and how they have participated in continuing education opportunities.
Course and Resource Management
Skills and Competency Management
Enrollment and Registration Administration
On-the-job Training Analysis
Training, Scheduling and Tracking
Enrollment Prerequisite Management
Recruiting and Applicant Tracking
Recruiting and Applicant Tracking tools do the work of automating much of the work that HR departments are tasked with when they are reaching out to potential employees. By bringing specific software automation processes to hiring and recruiting, these sorts of tools are essential in supporting the eventual decisions of hiring managers and human resources people. Many of these tools are aimed at digital platforms that serve as gateways for incoming professionals, and many of them help handle communications over different channels.
Social Media Job Postings
Career Portal Management
User Profile Management
Talent Pool Management
Reporting and Auditing
Talent Profile Analysis
Career Ladder — Skill and Competency Requirements
Performance Management tools help to monitor the advancement of individuals when they have successfully been offered employment at a company.
In many ways, these types of software tools assist with regular review processes and with the ongoing monitoring of an employee’s performance. By bringing certain kinds of digital decision support to performance management processes, Performance Management software enables better comprehensive and long-term supervision of staff, and shows companies where they are getting the most out of employees. These tools can also improve relationships between managers and employees, and better enable busy managers and supervisors to do their work in evaluating teams.
Performance Review Process Tools
Performance Planning and Review Cycles
Qualitative Goals and Objectives
Performance Management Audit Trail
Essentially, Competency Management software tools help the company’s leadership to assess, score and rank the achievements of employees in different environments.
These tools help with the many types of surveys, digital tests, certification processes and other cases where employees are asked to demonstrate competency in a given area. Some of these tools may be geared towards learning events such as seminars, workshops, webinars and the use of workplace curriculum, while others are very much aimed at specific digital review processes for technical competency that may be part of regular review processes. With the development of digital libraries and other resources, Competency Management software documents outcomes across an organization, to enable better use of this business intelligence surrounding the talent that the company has hired.
Assessments and Recommendations
Career Management software brings more of a broad approach to how companies handle employee information. Some of these tools allow employees to access information about their careers, as part of overall engagement. Others help business leadership to look into the ways that employees are progressing. Some also document workflow processes and communications processes that are aimed at the gradual development of an employee’s career.
Employee Education and Experience Profiles
Talent Profile Review and Analytics
General Interface Workflow Management and Communications
Talent Profile Comparisons
Talent Pool Creation and Development
Interactive Visual Content
Internal Social Network Tools
This set of software products deals with employee pay. These software tools may look at the salaries or hourly wages of employees, as well as expenses, per diems, incentive models, and other aspects of compensation tracking. Some may also manage things like stock options or awards, and bonuses and commissions. Compensation Management software helps decision makers to look at how compensation is set, the effect that it’s having on a workforce, how it has changed or can be changed, and what sorts of models are used to incentivize performance.
Pay for Performance
Multiple Compensation Plans
Bonus versus Commission
Compensation Payout History
Succession Planning and Management
When a company has to make specific decisions to replace outgoing talent professionals, Succession Planning and Management tools are a critical part of the process. The departure of an experienced person creates a vacuum, and companies have to fill that vacuum. Digital Succession Planning and Management Tools will help to deal with this specific process, again, using a range of options for automating and improving talent management.
Candidate Readiness Evaluation
Peer Nominations for Promotions
Talent Pool Visibility
In the context of choosing Talent Management software options, companies also have certain IT requirements. The right toolset will fit the company’s IT architecture, and be delivered on a model that works for the company without creating excessive business disruption. By looking at IT requirements and features, companies can make the best choices for Talent Management software solutions.
Software as a Service Model
Native Mobile Application
Third-Party Hardware or Software Handling
Role-Based System Access
Security Applications and Protocols
Security Audit and Compliance
User Support and Maintenance
Finally, customers must look at the support processes that companies offer for Talent Management software sets. This includes phone and e-mail support, hours of support available, and whether there is a community support network for a product. Companies can look at service level agreements to figure out things like maintenance contracts, uptime and downtime, and the availability of services.