A Definitive List of Talent Management Software Features
skills associated with compensation and training to its own full range of capabilities that includes cradle-to-grave support of every employee’s journey in the company. As talent management has become a strategic differentiator in organizations and an increasingly complex skill set, potential buyers need to learn how to identify key talent management software features and align them with organizations’ strategic goals. HR.
But how do you evaluate the features of talent management software? What are the key features your company should be looking for when looking for talent management technology? And which of these functions might already be present in your organization, either through an existing HR system or through collaborative technologies managed by IT rather than HR? This list of talent management software features and guidelines can help.
Determine requirements for talent management software
Before defining the main features of a talent management software, there are a few high-level features that should be kept in mind. First, if your organization is looking for highly specialized tools for any part of talent management, it may need to bring together a selection of best-in-class vendors to combine specialized sales compensation models. , video interviews and predictive analysis. In this case, application integration is of vital importance. It’s also essential if you want to continue using existing technology, like an applicant tracking system.
Second, a new set of technologies has redefined software platforms: social, mobile, analytics and cloud. When evaluating the features of talent management software, you should ask yourself the following questions:
How social is it? Does it enable collaboration, and can it track and integrate social networks and preferences?
How mobile is it? Is self-service available via mobile web or as a mobile app? Is the software supported on multiple mobile operating systems and form factors? Is the functionality of the mobile version comparable to that of a desktop or portable version? Does mobile security measure up to laptop security?
How analytical is it? Can you extract the data into your own data discovery or business intelligence tool? Can you create out-of-the-box dashboards and reports that will meet both your needs and those of your implementing partners?
How cloud-ready is it? Is it hosted or is it a multi-tenant SaaS? Is there a business continuity option that includes multiple sites? Can it be offered on a hybrid cloud basis, where on-premises and hosted environments are hosted simultaneously? Are its cloud options secure and compliant?
Typically, talent management suites include the following features:
- learning management and development;
- talent recruitment and acquisition;
- business collaboration;
- workforce planning;
- compensation management;
- performance management; and
- succession planning.
Many of these may seem already covered by standard human resource information systems (HRIS), sometimes referred to as human resource management systems (HRMS). But the devil is in the details. Of all the functions listed above, learning is typically the biggest driver of new talent management system purchases. For this reason, companies must begin by aligning learning with the existing need for corporate training, including training delivery, compliance monitoring, and the links between training and ongoing performance.
Typically, companies buy talent management suites because they have outgrown the standard tracking and reporting features of their HRMS learning modules. For example, a human resource management system might track basic attendance information and scores for a continuing education course, but often lacks the video and document management capabilities needed to support the course. continuous way. When considering learning management and career development modules, buyers often compare their features based on requirements that vary widely by geography, industry vertical, and level of continuing education required. . These features include the following:
- event management;
- course development;
- integration of content and document management; and
- access to e-learning providers, virtual classrooms, social media, and ongoing skills development and education tracking.
Talent Management Software Features Checklist
The remaining modules are less likely to drive new talent management system purchases as standalone options, although potential customers typically start with two or three of the core modules mentioned above with the intention of building a after.
In general, here are the main differentiating traits you should look for in each module:
Recruitment and talent acquisition: For talent acquisition, focus on skills assessments at interview time and social awareness. Determining candidate skills before the time of hire, instead of just trusting an interview answer or resume entry, will result in stronger employees. Likewise, if your company can use trusted social networks and collect social referrals through its recruitment technology, it will be easier to find qualified candidates.
Business Collaboration: Social collaboration features can look like duplicates of existing social platforms, such as Yammer and Jive, or communication systems, such as Cisco and Avaya. Buyers should focus on differentiating between collaboration tools within talent management suites — including features to measure and improve employee engagement — versus existing internal systems.
Compensation management: Compensation management is becoming increasingly difficult as variable compensation, contingent labor and alternative compensation methods become more popular, both in sales and other contact roles. with customers. To fully support these use cases, an organization may need to engage a vendor that specifically supports sales performance management to gain the flexibility to effectively manage compensation.
Performance management: Performance management can run the gamut, from managing basic goals and tracking annual reviews to near-continuous coaching that provides contextual reinforcement from social and gamification-related communications. Depending on your company’s desired performance tracking model, you may need to customize performance management software to track desired goals and integrate collected data with company performance management systems and other sources. business data.
Estate management: Make sure your succession module provides an integrated view of internal and external talent associated with a specific role. If your organization internally trains and prepares heir apparent for specific roles, ensure that these future leaders acquire the skills necessary to successfully fill the position and that their skills would be sufficient if the role were offered to an external employee. Ideally, succession planning should take place at both the executive and operational level, as no task in the business should face a permanent bottleneck if an employee leaves for any reason.
With these features in mind, your company can enter the talent management system procurement process ready to make a long-term strategic decision based on the needs of your organization and its existing technology infrastructure.