What is talent management?
Managing the various HR processes can sometimes feel like a juggling act. Between recruiting the right candidate, onboarding them, and on to succession planning, there is a lot to manage. Talent management is the overall term for people processes, from recruitment and onboarding, to performance management and offboarding. Having the right Talent Management System in place can help streamline all of these HR processes within one platform.
The benefits of having a talent management system
1. Connecting and sharing data
The right TMS can integrate and align core HR processes. While much of the data collected through a HRIS is stored in silos and can be difficult to reach and analyse, an integrated TMS shares data across the entire system allowing for easy access. This gives a clearer understanding of what that data means for your business and enables you to make informed, strategic business decisions.
2. Strategic hiring process
Having a TMS can help you recruit those really talented candidates that everyone is after. By integrating tasks such as posting job descriptions, tracking applicants and making it easy to manage offers, a TMS streamlines your hiring process, allowing you time to focus on the candidates.
3. Improved onboarding experience
An organised and efficient approach to onboarding is achievable with a TMS. You can create employee profiles which hold all of the information and data collected during the recruitment and hiring processes. Automating the new hire paperwork can save both you and the new hire time which you can then use to focus on the new recruit.
4. Retain top talent
Once you have the best employees, you need to keep them. With all of the employee information hosted on one platform and neatly organised into an online profile, you can track performance reviews, goals, skills and career aspirations to make sure your employees are happy and on the right track. Having a TMS in place to capture all of that data makes it easy to analyse and report on which employees need developing, monitoring or even promoting.
5. Employee development
A good integrated TMS should include options for employee learning and development. It enables employees to take courses, develop skills and in some cases pursue certifications relevant to their professional development. TMS solutions also collect data on what skills an employee has and allows the HR team to assign training which the employee can then access from their personal profile.
6. Improved employee experience
As we know, employee turnover is something to be avoided at all costs. A TMS that integrates with payroll improves the employee experience by allowing access to payslips, holiday requests and management of sick leave. Organisational charts can also be included, letting employees know the reporting and management structure of the company.
7. Increased employee and manager engagement
If you’re looking to increase engagement in your company, implementing a TMS can help. The employee profile empowers employees and managers to interact with the employee’s professional career progression. An integrated TMS solution encourages them to invest in the organisation and align their daily work with the business goals while also focusing on their personal goals.
Investing in an integrated Talent Management System will allow you to be more strategic, more informed and free up time to focus on the talent you have hired or are recruiting.
ELMO Software (ASX:ELO) is a cloud-based solution that helps thousands of organisations across Australia, New Zealand and the United Kingdom to effectively manage their people, process and pay. ELMO solutions span the entire employee lifecycle from ‘hire to retire’. They can be used together or stand-alone, and are configurable according to an organisation’s unique processes and workflows. Automate and streamline your operations to reduce costs, increase efficiency and bolster productivity. For further information, contact us.