Talent management software is becoming an increasingly important tool for HR departments, employers and hiring managers alike for a plethora of good reasons. These benefits apply to companies of all sizes, from large enterprises to small start-ups.
However, depending on the number of employees, the needs of your company and the type of software you are already using, different applications will be better suited to your business needs than others.
Along with recruitment and applicant tracking, talent management software at its best helps to retain talent through motivation and incentivisation by implementing better employee performance review and feedback processes. After all, a company is only as good as its staff, so streamlining the staffing process from hiring through to evaluation, reward and development is vital.
The automation of the talent management process also frees up employers time, removing the complicated process of paperwork, crowded email inboxes and countless spreadsheets. It also improves the communication process across all levels of the company, allowing for open and transparent feedback and appraisal, goal setting, performance documentation, rewards and career succession – all-in-all improving employees sense of value within the company.
If you have already begun your search for talent management software, you are likely to have come across some of the applications geared towards larger enterprises. However, it may be harder to stumble across equally good software to suit small to medium sized businesses. For this reason, we have compiled this list of talent management software applications for small, medium and large enterprises alike:
For Small Businesses
TribeHR focuses on the recruitment aspect of the talent management process. By automating the recruitment process, this software shortens and improves the hiring cycle so that companies can attract the right talent and filter out unsuitable matches faster and more efficiently.
One of the key features of this HRIS software is peer evaluation and appraisal. This is one of the more social and collaborative talent management tools on the market with a social interface that allows for public recognition, sharing of goals and values, along with interactive corporate news feeds.
Along with a focus on increased engagement and collaboration, this talent management tool also offers customization and personalization, reporting, skills tracking, goal management and the sharing of values and culture to align with company objectives.
BambooHR offers an online Human Resources Information System (HRIS) that is intentionally affordable and feasible for small businesses. BambooHR keeps it simple, it is easy to use for those who are new to cloud software, it stores all employee data securely in one place and is globally accessible in 6 different languages.
This software allows you to receive alerts on important employee events such as training deadlines, license renewal, benefit dates and birthdays. Furthermore, employees can access their own data, adding important updates such as time-off requests, so that employers have time for other tasks.
You can also create user groups and customizable fields, tables and tabs and generate instant, easy to read reports. Due to their open API, Bamboo HR makes it easy for users to integrate with additional add-on features such as payroll and applicant tracking. The flexible HRIS pricing model provided by Bamboo HR is designed to be adaptable and suitable to all user needs, offering a monthly subscription fee based on number of employees.
For Medium-sized Businesses
Halogen offers a great performance management solution for medium sized businesses. This software enhances the performance feedback process, allowing users to easily manage goals, development and evaluation on an ongoing basis. Halogen TalentSpace offers a full suite of talent management solutions that are integrated into one user community, ensuring all employees are aligned to company goals.
Along with effective recruitment, inspiring and encouraging employees is the key goal of this software. This is enabled through 360-degree feedback and the establishment of pay-for-performance programs. Key benefits of Halogen include the ability to share one-to-one meetings across the organization for coaching and communication purposes, along with receiving insights about your workforce and talent programs at any time.
Financial Force Human Capital Management (HCM) works on the Salesforce Platform to manage the entire HR process. Specific talent management functions include benefits and compensation; absence, performance and talent management; collaboration, career and succession planning.
FinancialForce HCM allows you to view and collect all your essential talent information from one centralized database, as well as to easily share information across the organization. From here, users can store information, track employee performance and view updates, insights and reports on a continual basis through comprehensive charts and visualizations.
Key benefits of this software include the easy management of goals; performance monitoring; learning, training and development; career succession planning; as well as corporate and employee goal alignment. FinancialForce is also fully customizable allowing you to create new fields, business processes, workflows and approval processes.
For Large Enterprises
Oracle Taleo Cloud Service is one of the most popular talent management tools on the market for large enterprises. Oracle Taleo allows users to collect information and build employee portfolios throughout the entire employee lifecycle. This software helps to recruit top applicants, drive performance and align employees with company goals, whilst also implementing performance review and reward processes.
The Oracle Taleo Enterprise Cloud Service offers a number of functions from recruiting and social sourcing, onboarding, performance and goals management; succession and development planning; through to learning, training, assessments and compensation.
To find out more about talent management software for SMBs, head over to the GetApp market place for listings of top talent management software vendors. From here, you can also access talent management application user reviews and software comparisons.