An organization’s biggest investment is in its talent. If you’re crunching numbers right now, consider how much of your budget is directly connected to the employee: hiring to employee onboarding and training to compensation. They’re expensive and they should be. Your ability to find, recruit, train and manage A Players is what drives the performance of your organization. If you have a good talent management system and process, you can feel confident that you will have a profitable company.
Unfortunately, it can be complicated to develop, maintain and improve upon this process. While technology certainly can help navigate a lot of the obstacles, if it’s not designed or set up to help you track, manage and predict your talent strategy, then is it really helpful at all? Luckily, the market is full of talent management technology and tools from which to choose. Of course, that on its own is yet another exhausting dilemma to overcome. We know just how hard it can be to weigh your options, so we’ve created this complete Talent Management System Buyer’s Guide to help organize the thoughts, priorities and needs of your team.
Before we dive into choosing technology, it’s important to understand just how crucial a talent management system is to managing your people and processes effectively. You can, and many companies do, only choose to work with one or two of the mentioned tools. However, there is a greater chance for costly gaps.
Talent management accounts for every step of an employee’s journey. The moment a job seeker hears about your organization, they are forming opinions and trying to picture their career with you. Once they apply and even after being hired, they’re critically observing everything from recruiter communication to the overall office environment. Years into employment, your workforce is still thinking in terms of building their career with you. Or at least they should be...
Each and every moment of employment is a career assessment and reassessment for an A Player. In fact, those that don’t think in terms of improvement for themselves are probably not thinking of how they can improve your organization. That’s why a full-scale talent management strategy and process is important. The right talent management system will carry talent from applicant to productive and engaged employee seamlessly.
Each part of the talent management platform should enable you to effectively manage your people to drive success - here’s how:
Applicant Tracking Systems support the employer brand, manage internal and candidate communications, organize information and allow recruiting teams to better collaborate.
- 75% of job seekers consider the employer’s brand before even applying for the job
- 60% of candidates think better communication during the application process would make a more positive impact
Employee Onboarding Solutions can help keep organizations compliant, ease new hires into their role, lower time to productivity and decrease turnover.
- Organizations experience 50% greater new-hire productivity when they have a standard onboarding process
- Onboarding programs have been shown to increase retention by 25% and even improve employee performance by up to 11%
Performance Management Systems help employees feel more connected to their job and goals, increase transparency and collaboration, boost the frequency and effectiveness of feedback and help drive succession planning.
- Companies who implement regular employee feedback have turnover rates that are 14.9% lower than for employees who receive no feedback
- 86% of employees and executives cite lack of collaboration or ineffective communication for workplace failures.
With that all in mind, consider just how far your workforce can go with the right strategic talent management. This guide will cover the intricacies of exploring and purchasing those critical systems and solutions by explaining how to:
- Audit your organization’s needs and priorities
- Correlate industry trends to your unique workplace
- Demo products and solutions
- Strategize your investment
- Get executive buy-in
- Approach implementation
Download your copy today and get your talent management process on the path towards success!
As the head of a department in the midst of a sustained period of rapid growth, Sara has spent thousands of hours interviewing, hiring, onboarding and assessing employees and candidates. She is passionate about sharing the best practices she has learned from both successes and failures in talent acquisition and management.