Find out more about Talent Management Software
What is Talent Management Software?
Talent management software can be used by companies to deliver online educational courses to their employees to boost their skills. They can utilize the system to develop a large pool of learning resources for their trainees and create appropriate learning conditions for each participant. Instructors can also perform skills gap evaluation with pre-testing, evaluate individual learning curve during the course, and adjust the learning pace accordingly. Another benefit is that you can measure student accomplishments through post-course evaluation metrics. Talent management software can also automate the complex process of learner registration and record archiving. Advanced systems support collaboration between instructors to enable them to create helpful course resources. Check out the top apps in this category, headed by iCIMS Talent Acquisition which is the current leader in the eyes of our expert team.
Most Popular Talent Management Software
Best Talent Management Software
How To Choose The Best Talent Management Software
The talent management software market grew by 18% in only one year, and ‘weights’ something alike immodest $5 billion at this point of time. Wherever one turns, worried executives share the need to develop leaders with extracurricular technical skills, and they invest millions to improve their online organizational culture. Why is it so? It may just be that talent optimization is becoming the key factor to business success.
The first thing an experienced CEO would share being asked upon business priorities is that managing people in the process is much more difficult than managing the process itself. Had that been said just few years ago, it wouldn’t have made as much sense as it makes today: from where we stand now, nationalities and borders are no longer an excuse to scratch nothing but the surface of your L & D strategy.
But which is the best Talent Management Software for enterprises and SMBs to help you achieve that? That’s exactly what this buyer’s guide is trying to help you decide.
Get to know each product with free trial
A good course of action is to sign up for at least a few free trial plans from the vendors that are popular. With that method you will have the opportunity to test the important elements and you will get a good overview of the capabilities of each app. The best thing to do is to when choosing the best Talent Management software is to try services that currently have the highest results in our SmartScore and Customer Satisfaction Rating in the Learning Management software category: Recruitee Reviews, iSpring Learn LMS, Accord LMS, RomyLMS, GyrusAim, Mindflash, TalentLMS, and Docebo.
Talent management systems are recommended for every company wishing to make the most of its knowledge and skill load, and to automate HR processes in order to make smarter and more profitable decisions. These are the scenarios where talent management software can help the most:
- Small Businesses looking to improve recruiting. The smaller team a company can afford, the more important it becomes to find and hire the right people. In smaller business environments and startups, every person is an invaluable asset, and the company has to do everything necessary to make the most of his skills. In a scenario like this, a talent management system can reduce paperwork and streamline the hiring process as it provides visibility in the talent pool and it empowers strategic planning.
- Medium Businesses looking to make training more effective. Medium teams can benefit from talent management systems too, due the fact that the number of customers is growing, but companies are stuck for a while in a position where they can’t afford hiring new members. Their only choice is to exploit what they already have, and to make their employees more competent to handle the increasing workflow. What the TMS will do for them in the case is to identify gaps, analyse skills, and confirm that all training programs have maximal effect.
- Large Businesses looking to streamline performance appraisals. Organizing a large team is never easy, which is exactly what TMS developers had in mind when designing enterprise-level products. One of their ideas was to develop powerful performance appraisal features that large companies can use to identify outstanding performance and to reward it. At the same time, they benefited from a comprehensive database of learning materials which enabled each employee to understand his role without undergoing an exhaustive training.
What are Examples of Talent Management Software?
- Training JumpStart: A complete e-learning management system for commercial purposes which possesses a wide range of performance appraisal tools, and streamlines the hiring process.
- Oracle Taleo Business Edition: A cloud-hosted TMS platform for small business and mid-sized companies that helps them stimulate employees and get high output.
- PeopleSoft: A popular human capital manager designed to automate HR processes and improving business performance for businesses of all scales.
- EmpXtrack: Another leading envision manager which helps companies encourage their employees and make appropriate decisions using advanced technology.
- Loopline Systems: HR SaaS solution with a friendly interface and great human management functionality, designed to evaluate and enhance both individual and group performance.
Types of Talent Management Software
Talent management software can be categorized in many different ways, as apps vary from free and basic tool suites to ultra costly and accurate programs. Features can also be categorization criteria, as certain programs do nothing but recruitment automation, while others are more robust and they allow companies to monitor their talent pool, track individual and group performance, and even do some custom branding. Deployment is also an important factor based on which there are:
- On-premise talent management programs. These are covered with a single license, and are hosted on the client’s local server. They qualify as the most expensive ones, due the fact that they require complex setup and occasionally some hardware installation.
- Software-as-a-service (SaaS) talent management programs. These are usually paid per month, and are hosted on the vendor’s server. The business owner is not responsible for installation, updating, and maintenance.
- Cloud-hosted talent management programs. Most of these offer free basic plans, and qualify as the most affordable ones due to their universal access and the fact that the client doesn’t need to update them or to pay for maintenance.
Key Features of Talent Management Software
There are many articles, forums, recommendations and common rumors that put particular brands in the spotlight, but making your own mind is still the best way to go. Wrapping it up, you have to look for four key factors: Robust functionality; Unified reporting; User Experience; and Good price.
To start with, summarize a list of features you expect your match to have, and check whether the following modules are listed as well:
- Talent acquisition: Refers to Employment brand management; Candidate relationships; Sourcing; Referral; Application tracking; Global talent pool development; Background checking; Multimedia support.
- Performance management: Performance review; coaching; goal-setting; competency management; development planning; feedback; Productivity analytics; One-time hires management.
- Compensation: Variable/incentive compensation; Short/Long term compensation; Budget allocation; Benchmarking; Integration; Total rewards; Industry (Global) analytics.
- Leadership development: Resume tracking; Talent reviews; Talent pools; Talent identification; Talent selection; Development for global leadership positions; Succession/transition plans; Talent mobility; Cross-group calibration; high-performance tracking.
- Learning management: Learning administration; Learning content; E-Learning; Collaborative/social training; Partner training; Testing/assessment; Certification; Productivity analytics.
- Workforce management: Scenarios; Critical assessments; Skill gap assessments; Inclusion; Diversity; Role identification; Forecasting; Workforce analytics.
Benefits of Talent Management Software
Talent management software is a set of intelligence applications which track the career of your employees for as long as they’re working for you. Said shortly, this software manages the employee lifecycle, and the insight it provides is more than valuable for developing recruitment criteria. The presence of an application tracking system makes it possible to access and organize applications, while the performance management part is in charge of tracking employees, rating progress, and facilitating on-boarding.
There are many advantages to be considered when deciding whether to manage talent online or not. We’ve listed the most important ones:
- Improved hiring. Hiring and training hires is among the most challenging activities of every team builder. Adding science to the process helps creating best employee profiles, and customizing coaching to optimize your benefit from their skills.
- Revolutionized HR. This is the part where you get to switch from unreliable reviews to performance appraisals that can be recorded, evaluated, compared, and stored. Needless to say, you’ll get to a whole new level of processing documents and generating reports.
- Memorable on-boarding experiences. Regardless of how badly an employee wanted to enter your team, he won’t bring the best of his knowledge on the table without a proper and welcoming on-boarding. Providing them with a base of useful information and best practices won’t just ‘make it easy’ for them – it will build you the dream team you’ve always desired!
- Retaining professionals. You can be as satisfied with your employment policy as you wish, but that won’t make attrition any less dangerous for you. Rewarding performance and supporting career development doesn’t change the fact that every outstanding performer is a potential competitor, which is why you need software that can handle your retain policy, and put potential leavers on the radar.
- Improved business decisions. Purchasing a talent management system is already a great business decision – people are your most valuable asset, and are therefore the aspect most worth of investing time and money.
List of Talent Management Software Companies
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Our website uses our unique SmartScore™ approach to examine all the services in the Talent Management Software category so that we can help you get the best possible solution. It takes into consideration the following factors: essential components, collaboration capabilities, custom elements, available integrations, how easy a software is to use and learn, help & support, security, support for smartphones and tablets, media rating. At the moment, iCIMS Talent Acquisition is the leader in this category and is recommended by our experts. Following thorough testing it had the best results among its competitors and we strongly suggest that you consider it as one of the alternatives for your needs.
A look at overall user satisfaction with the products in our Talent Management Software category based on our unique algorythm that finds user reviews, comments and opinions across a broad set of social media sites to help you make an educated purchase decision.
Every vendor in the Talent Management Software category will offer a different set of pricing plans for its service and each plan will include a unique group of tools. Below we list the general pricing for the most affordable plan available for each app. Please note that advanced features may have an extra cost.
An analysis of what type of devices and operating systems are supported by these B2B services in the Talent Management Software category, including mobile platforms and web-based solutions.
Check which languages and geographies are served by the best B2B services in the Talent Management Software category, including apps designed for international markets and prepared for multi-cultural groups of employees.
Find out which pricing plans are offered by the vendors in the Talent Management Software category to check which one fits your business preferences and budget best. Keep in mind that specific software can provide free or freemium accounts for you to test first.
An analysis of which kinds of clients a specific B2B platform in the Talent Management Software category aims for, from small businesses and non-profits to large enterprises.