Talent Management: The Ingredients of Effective Human Capital Management Software
Talent Management: By Tom McDonald, McDonald Sales and Marketing, LLC
Higher Retention Rates 40%
More Employee Productivity 26%
Millions of Dollars in Business Value
Meeting your organization’s goals and objectives depends largely on the people in your organization that achieve results. With Talent Management software, you will be better able to hire, manage, retain, and develop your employees to ensure you have the right people in place.
Provide Talent Intelligence so you can see the talent that is driving results and understand how to manage that talent.
With Talent Intelligence, you can:
- Hire the best people.
- Align your employees to high impact tasks.
- Assess and coach your employees.
- Assign the right development activities.
- Reward your highest performers appropriately.
- Build deep bench strength and talent pipelines.
Improve Quality of Hire 33%
Improve Process Efficiency 50%
Save Millions in Recruiting Costs
Talent Intelligence delivers on the true promise of recruiting – the creation of a high performance workforce. Unlike most recruiting management software and applicant tracking systems that promise quality of hire, deliver proven results by connecting new hire performance and retention data with sourcing strategies and recruiting programs.
Optimize Sourcing Spend
Reach Hard-to-Find Candidates
Build Talent Pools
The right sourcing strategy can help your recruiters, improve your business, and fill your job openings quickly. Enhance the candidate experience with powerful Web 2.0 career sites. Tap into the power of social networks like Facebook, LinkedIn, and the Talent Exchange with built-in integration. Build and maintain huge talent pools with recruitment database software and advanced candidate relationship management tools. Maintain sourcing 24×7 with automatic Internet search and spidering tools.
Reduce Turnover 40%
Improve Efficiency 80%
Make Better Hiring Decisions
Scientifically validated behavior and skills assessments identify ideal employees, prevent bad hires, and predict retention. Then a single view of talent assessment results embedded in the recruiting process increases recruiter and hiring manager efficiency by up to 80% and lowers turnover by an average of 40%. A flexible and open talent assessment platform enables you to use content from multiple sources and tightly integrate assessments into your recruiting process.
Faster Time to Productivity
Greener Onboarding Process
Better Engagement & Retention
Effective onboarding enables new employees to be more productive from their first day on the job by streamlining new hire paper work, ensuring their equipment is ready on time, and immediately aligning them to corporate goals. Streamlined new employee onboarding processes reduce cycle time from days to minutes, save millions of dollars, and shorten time to productivity for new employees.
Deploy Cascading Goals
Automate Goals Management
Increase Transparency and Accountability
Goal management software gives your executives the confidence that their workforce is focused on your company’s strategic initiatives. Now your managers can use immediate insight into what your employee’s are working on, the progress they are making, and who is performing well to make better business decisions. Keep your employees engaged on the highest impact projects with appropriate guidance from their managers with goal management software.
Automate Performance Processes
Generate Succession Plans
Reward and Retain Top Performers
Performance management transforms the typical performance review process into an insightful management tool that drives better business results and helps retain top employees. Integration with desktop productivity tools enables employees and managers to provide regular and timely updates and feedback. Continuous performance conversations ensure that employees are being regularly assessed and coached rather than evaluated once a year.
Identify and Develop Future Leaders
Build Bench Strength in Critical Roles
Avoid Business Disruptions
Succession planning software provides insight across company organizational silos and into the global talent marketplace to power true talent mobility and succession. In a single view, you can systematically evaluate and compare individual experience, skills, and competencies to select the right person for each role. Enable your organization to go beyond simple performance and potential to evaluate risk of loss, compensation, and career preferences. Now your executives can create, monitor, and develop stronger talent pipelines for leadership and other critical positions.
Accelerate Leadership Development
Increase Employee Productivity
Create a High Performance Culture
Employee development and training software helps companies invest in their people so that they will be ready for the challenges of the future. By making career and personal development more relevant, timely, and social, you can redefine your approach to employee development and training for increased engagement.
Development program activities become relevant and timely when they are embedded within goal, succession, and career plans. Performance review integration ensures that development plans are revisited regularly and are tied to employee career successes. Social networking tools enable your people to create, share, and rank development activities that unlock the hidden knowledge within your organization. With Talent Intelligence, you can identify and address skill gaps and ensure that employees are guided to the right development activities.
Reduce Training Costs 50%
Decrease Turnover 42%
Increase Revenue and Productivity
Learning helps organizations to increase the value of their most important asset – their people. With formal learning features designed to deliver structured curriculum and learning events, a Learning solution helps organizations to deliver and track essential training tied to compliance, regulatory, job role, and on-boarding requirements. Through social learning features such as discussions, ratings and reviews and file sharing, Learning helps organizations to develop true learning communities where experts can share what they know with new hires and geographically distant colleagues. Learning enables organizations to tailor the mix of formal and social learning to the needs of their culture and business drivers, resulting in greater performance and productivity.
Real Pay for Performance
Consistent, Flexible Compensation Plans
Focused on Business Success
Compensation management software provides organizations with real-time insight into their compensation programs to save millions and maximize returns on talent investments. With Talent Intelligence in compensation management, you can blend performance, potential and risk of loss information. Then your managers can reward and retain today’s high performers while making better investments in critical talent for your leaders of tomorrow.
Sophisticated rules engine automatically recalculates budgets whenever employees are hired, promoted, or leave your company. Now you can get a dynamic, real-time view into your total spend, correctly handle these events, and save millions in compensation leakage. Take advantage of analytical tools to track and enhance the impact of your compensation on both performance and retention.
REPORTING AND ANALYTICS:
Single View of Talent
Strategic Talent Intelligence
Powerful Decision Support
Reporting and analytics software provides your executives, line managers, and HR teams with the Talent Intelligence they need to optimize the workforce and understand the business impact of talent management initiatives.
- View employee performance reports and identify critical skill gaps to optimize employee development.
- Quantify leadership bench strength and predict high performer turnover.
- Streamline recruiting by gaining visibility into process bottlenecks.
- Improve quality of hire by identifying top performers, source of hire, and tenure.
- Drive better execution by measuring organizational alignment and progress against goals.
- Analyze compensation effectiveness.
Plug into the Talent Grid™.
Connect With Over 200 Million Candidates, 5,000+ Customers, Millions of Users and Dozens of Partners.
A set of three online communities, The Talent Grid provides an exclusive place for customers to interact and share best practices, discover pre-integrated partner solutions, and connect with millions of candidates in an open marketplace.
Designed using the latest Web 2.0 principles and social technology, The Talent Grid is a convenient extension of effective on-demand Talent Management solutions for companies of all sizes.
Trusted Social Network for Talent Management
The Knowledge Exchange brings together talent management best practices, metrics, methodologies, and domain expertise from millions of practitioners and experts from thousands of companies in dozens of industries around the world. Join the ultimate online community to share knowledge and discuss a wide range of talent management topics
Application Marketplace for Talent Solutions
A Large ecosystem of partners offer a diverse set of preintegrated products and services including sourcing, compliance, assessments, learning, tax credit screening, and emerging technologies. The Solution Exchange is made possible by a unified Talent Platform, open architecture, and Passport™ integration technology. It’s an interactive marketplace where partner solutions can be evaluated, compared, and activated.
World’s Online Candidate Marketplace
The Talent Exchange is a candidate talent community from around the world connected through the talent network. Millions of candidates can easily share their Universal Profiles (UP) with prospective employers. Thousands of employers can invite millions of candidates to join Talent Exchange and can publish and promote millions of new jobs posted . Find higher quality candidates in less time thanks to the power of the community. Customers can drastically reduce sourcing costs by directly accessing talent within the marketplace and posting jobs to the Talent Exchange for free.
To Discuss how these Solutions will add value for you, your organization and/or your clients, Affinity/Resale Opportunities, and/or Collaborative Efforts, Please Contact: