3 Things To Know About Talent Management Software
ITM or Integrated Talent Management refers to management of conventional HR sub-functions or the recruitment and selection, performance management, workforce planning, development reward and learning as well as recognition and successful planning to leverage talent strategically.
Integrated talent management strategy should be aligned with business strategy of the organization, otherwise, it'll add no value to the business, no matter how great the strategy is. A robust competency model that is guiding talent management tactics and strategy is the cornerstone of integrated talent management software.
As a matter of fact, there are building blocks that compose an ITM system and this is what you are going to learn in the following paragraphs.
Number 1. Talent Management Philosophy
This refers to the collective understanding of what Talent Management really is and also, the school of thought that the management team has adopted. We learn from the organizational psychology that for any kind of organizational change effort to succeed, it has to be supported by top management of the organization. Therefore, it is vital to acknowledge challenges dealt by the organization from a talent perspective and to how the organization is intending to respond to challenges expressed in policy statement of the organization. To know more details about talent management software, you can go to https://en.wikipedia.org/wiki/Talent_management_system#Functional_modules_and_their_market_worth .
Number 2. Talent Management Processes
The employee retention tools are utilized as a vehicle in transforming something from one form to the other. HR practitioners must shift their perspective from silo based mentality of managing the HR sub functions to a perspective of utilizing these functions as vehicle to build organizational capability of attracting, engaging and retaining competent and committed workforce.
For the owners it is critical to understand each process and the stay interview questions of the collective processes. Otherwise, the benefits of having an integrated system won't be felt.
Number 3. Integrated Talent Management Information System
As what mentioned earlier, there are many different HR sub functions, which include the succession planning, training and development, recognition and reward, selection and recruitment as well as performance management that are being applied in different processes of the talent management. And what's more, you must know that each of the HR sub function is generating data that are being used for managing the talent. Integrated talent management software allows the user to pull all the info they need regardless of which HR sub function to assist the decision makers in understanding the breadth and depth of the talent at their disposal and talent risks they must mitigate.
There lots of talent management information systems that are available in the market, some are being offered as a part of enterprise resource planning and some are just standalone systems.