What is a Talent Management System

Talent management systems are software-based solutions that facilitate the process of assessing and tracking employee performance from pre-hire to post termination of employment.  When integrated with succession planning modules, a talent management system can make it easier to identify internal talent for promotion within the company.  More sophisticated systems can also identify employees who may be at risk of leaving the company, track talent shortages and replacement gaps, integrate with Learning Management systems, and more. Talent management is increasingly a part of the corporate strategy and articles abound about attracting, developing, and retaining talent. Forecasts are plentiful on a wide range of topics including retirements, labor shortages, quality of new hires, and lack of future leaders. All point to the need for organizations to act now or risk losing competitive advantage. Organizations need to identify, select, and develop their employees in a way that supports the company’s business goals and provides employees with a clear career path. In other words, organizations must become deliberate and strategic in their programs for managing their talent. Talent Management systems are a tool to help companies do just that. Following is a list of features to look for when evaluating a Talent Management System:

  • Tools for talent acquisition (pre-hire)
  • Tracking of organizational goals and employee performance against them
  • Compensation management
  • Manage employee performance appraisals including 360 degree evaluations
  • Support for Competency Models and Competency Dictionaries
  • Succession planning
  • Workforce management; using data to match people to jobs
  • Job skills assessment and automated training/development (possibly through LMS integration)

Following is a list of some of the most popular Talent Management Systems listed in alphabetical order:

  • Authoria
  • Halogen
  • Insala
  • Kenexa
  • Saba
  • Softscape
  • SuccessFactors
  • SumTotal
  • Taleo
  • Workday
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