Negosentro | Helpful Benefits of Talent Management Software | The purpose of talent management software is to measure and manage the potential, performance, and value of employees from the time they apply to the time they retire or seek opportunities elsewhere.
Adopting talent management software —- sometimes referred to as a talent management system, if many software applications are being used in tandem —- can do amazing things for your company. Read on to learn about the benefits of talent management software.
Without talent management software or a talent management system, it is difficult to assemble and maintain a central hub of information. This leads to lost data, lost time, and an inability to analyze data for important hiring trends.
That is why most talent management software offers a centralized and standardized database. By using this software, or a system of applications, employers and workers alike can access data spanning many years. This includes data about an employee’s skills, training history, performance reports, and more. What’s more, identifying trends in the data as a whole allows your company to find issues and make the necessary changes to improve the hiring, training, and performance review processes.
Finally, the software can also store information on vacation time and sick days. That way, employers can easily see who will be out of office (and when) and make adjustments to schedules accordingly.
Talent Tracking and Employee Development
Comprehensive employee profiles allow managers to track performance, skills, career progression, and more. By tracking the talent at your company, you can intervene early if things need to be worked on, or show appreciation and recognition to exceptionally talented employees.
Many talent management systems include applications that help with employee training and success. By keeping track of existing skills, goals, and career trajectories, new courses or training programs can be offered to employees in need of development. This makes sense, considering that 89% of employees believe that their employers should support their career development.
With talent management software, managers and employees can engage better not only with each other but also with the company as a whole. Personalized profiles help employees keep track of their performance in relation to company (and personal) goals and expectations.
Since managers also have access to these profiles, performance reviews tend to be more efficient and accurate. Increased manager engagement benefits the employees and improves the quality of their work. In fact, 70% of employees said they felt more valued after their company improved on performance and talent management, and 68% felt that they got more valuable feedback on their work.
Increased engagement is a win-win situation for managers and employees alike, as it shifts the focus to the employee’s career progression and allows for more open and productive communication between supervisors and staff.
Talent Management Software is Worth the Investment
In sum, talent management software makes it easier for your company to:
- Compile and share data.
- Retain the best talent.
- Support employee development.
- Generate engagement between managers and employees.
Most important, adopting talent management software takes stress off of managers, HR, and employees alike. To get new insight into the talent at your company, look into talent management software today.