Hi there, today's Bite
is all about the talent management system.
Managing today's talent is about much more than recruiting
and candidate experience alone.
It entails everything from finding and attracting
the right people to developing, motivating
and perhaps most importantly, retaining them.
Let's start with the basic question.
What is the talent management system?
A talent management system
is an integrated software solution
that covers the full scope of talent management,
namely, recruitment and onboarding, performance management,
learning and development, compensation management
and succession planning.
Put simply, talent management systems
focus on helping companies
and HR achieve their long-term business goals
by putting the employees or talent, if you like, first.
As such, a talent management system
usually consists of various modules.
Each module representing a particular area of HR.
You can find, for instance, recruitment modules,
performance management modules,
modules devoted to employee learning,
compensation and benefits modules and so on.
But why should you use a talent management system?
The number one reason to use a talent management system
is to automate and optimize
the entire package of talent management processes
within your organization.
Other often named benefits of implementing
a talent management system are the following.
One, shared data, an integrated talent management system
enables organizations to align all core HR processes
from recruitment to ongoing performance assessments,
benefits management and so forth.
This facilitates data sharing
and connecting across the organization,
hence giving HR a full picture
of employee related information.
Two, better hiring, what a talent management system does
for your talent management as a whole,
is what its various modules do
for each stage of the HR life cycle.
This means that, for instance, the recruitment module
of a talent management system will help you automate
and optimize your recruitment process.
What this means in practice is, among other things,
less time spent on tedious tasks
and a better candidate experience.
Three, retaining top talent,
since a talent management system
covers every aspect of an employee situation in the company,
such as their performance, goals, training,
skills, future aspirations, compensations and so on,
it gives you all the information you need
to make sure they stay happy and engaged.
Four, an improved employee experience.
Using a talent management system,
not only makes a lives of HR professionals easier,
but it is also meant to dramatically
improve the employee experience, how?
By giving employees access to all the information
regarding their history, performance and future career
in one and the same place.
Employees can become familiar
with your company's talent management system
from the very first day they start working
at your organization, since you also use the system
for their onboarding.
Five, modern employee development.
Any good modern talent management strategy
enables employees to follow courses
and develop their skills.
Thanks to the technological developments,
such as the ones in AI, some systems can even suggest
courses to employees based on collected data
and, for instance, on the courses that colleagues
with similar profiles have taken.
Let's now take a closer look at how
to choose a talent management system.
Assume you have guessed, choosing a talent management system
is not a decision to be made lightly,
nor is it something to rush,
it often implies a considerable investment
and a long-term commitment to a vendor.
Generally speaking, there are a few things to keep in mind.
One, what are your organization's needs?
Ideally, you want to find a system
that fits both your current and future needs.
Two, find a vendor that's right for you,
buying a talent management system
usually equals a long-term commitment
to the software provider, so choose wisely.
Do they answer all the questions you have?
What's their service and support going to be like?
What do other customers say about them?
Three, demo, demo, demo, before you buy a car
you take it for a test drive, right?
The same thing goes for for a talent management system.
Ask your shortlist of vendors
to give you a demonstration of the system.
This will allow you to see the software in action
and to assess its user friendliness.
And that's a wrap, that was it for today's bite
in which you've learned what a talent management system is,
as well as why and how you should use one
in your organization.
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