As we explored last week, Talent Management software is all about how those in a position of recruiting and managing teams within a company takes a strategic approach to attract, retain and develop a workforce over time.
With the rise of the internet and cloud-based software, the tools you can use to manage talent within your company have developed to the point where talent management has become a pivotal pillar of any strategy for any successful business.
This article will look at how cloud-based HR software can help support you in your role to implement a Talent Management solution within your company.
What makes an excellent Talent Strategy software?
In 2021 any great Talent Management software will be cloud-based, helpful for the environment that we find ourselves in today. Workers need to be supported anytime, anywhere and from any number of devices.
But what are the four key factors that make an excellent Talent Management software? Whilst Cloud-based applications are very dynamic, and innovations can be delivered to current and prospective employees quickly and easily, they will only be able to do this if it’s built on the following four features:
- It must be accessible to you and your staff: Any Talent Management software must be accessible to senior management, HR, line managers and your team. It must allow you to view and work on your staff at multiple levels, including updating goals, editing learning plans, and tracking progress, regardless of where they are, something essential in a post COVID world.
- It must be consistent across all its offerings: Consistency can mean many things, from uptime to the user interface and experience being uniform across any device, from mobile to desktop and laptop to tablet. This is vital because it will make the software easier to use and faster to implement changes into your workplace.
- It must be proactive and supportive to your needs: A proactive Talent Management software solution will work with your HR software to support and proactively nurture the learning relationship between the employee and the employer. As an example, the calendar will showcase which staff are out on training. In contrast, the training module will manage both mandatory and optional training, and your staff’s individual profile will reflect the training they have completed or are required to complete.
- It must be informed and provide data: Specifically crucial for HR, an excellent Talent Management system will allow you to collect data, download it, and give the option to create flexible reporting to track how your staff are developing while allowing you to identify weak points or areas of improvement.
Outside of what the software does, what separates a great cloud-based talent management application from a good one is that when implemented, you will see a reduction in your company overhead costs, an increase in staff retention, and an overall more positive workplace culture.
What should talent strategy software let you do?
To help shed some light on how Talent Management Soft software ware can support your business, we’ve got a list of the seven core components that HR and talent managers say they look for when they’re investing in Talent Management software.
1. Staff Performance Management:
A talent management system that works for you and your team will support you in tracking, measuring, evaluating and rewarding employee performance and productivity – ensuring goals are met, or trending issues are addressed pre-emptively.
2. Talent Acquisition:
Your software should support you in hiring new talent, from searching for them, interviewing them, and finally through the entire onboarding process. To support this, your talent management system should have a built-in Applicant Tracking System, a feature that will allow you an accessible and easy electronic method handling of every stage of the recruitment process.
Talking acquisition also refers to employment brand management, candidate relationships; sourcing; referral; application tracking; global talent pool development, and background checking. The software will also support you with job requisition management, candidate searches, applicant tracking, and CV management.
3. Update how you develop your staff:
A modern talent management system will also support the modernisation of the process when approaching how you manage both employee training and development. Thanks to the power of the cloud, and software like Natural HR’s platform, both you and your staff will be able to see what courses are required, as well as creating an environment that nurtures learning, all under one roof.
4. Shared Data:
Working within HR and people management can often result in dealing with multiple different silos of data, resulting in having to work across various platforms to achieve one task, for instance, update an employee’s bank details. In reality, you want your HR, Payroll and Talent Management system to all be under one roof so that you can quickly and securely share data between different tasks without managing multiple other programs.
A system that facilitates data sharing and connecting across your organisation will give you a complete picture of employee information. For example, you can see who requires what training, mark employee files with completed courses, and even manage the training budget with the integration to payroll.
5. Training and Development:
Your Talent Management software must be able to support you in promoting an ongoing learning and development environment within your workplace and for all your staff.
From your newest employee to your seasoned veterans, there will always be a need for ongoing training to help them and the company stay on top of the latest marketplace trends, techniques, technologies, and other factors that will impact their day-to-day activities and the overall output of the company.
The ideal software solution will support this through a clear, concise and user-friendly approach to supporting and developing your staff.
6. Learning Management:
Another critical feature of any Talent Management system should be the ability to plan and assist with employee training in new skills while also giving your staff the ability to prepare for new and higher-level positions that will now be opened due to their training undertook.
Your Talent Management system will help you with tasks like ranking candidates, managing and updating employee profiles, and assigning learning and development goals by investing in learning management.
7. Improving the employee experience:
Your Talent Management system is a valuable tool for employees because they will have 24/7 access to all the information regarding their history, development, job and even payroll. They’re able to track, request and measure their performance and, through that, develop their future career.
Therefore, your system will not only make the lives of the HR team better, but it will also massively improve the overall employee experience and company culture. Employees will be able to get familiar with your company’s talent management structure from the very first day they start with you as it will be the same system they use for any HR-related issues, such as uploading documents, requesting time off or giving their bank details.