Talent management is one of the essential functions of an HR Manager. It is critical for business growth and driving revenue. Managing talent goes much beyond hiring new talent for the organization as part of the hr talent management software.
It is all about streamlining activities of the HR function to ensure that various activities are sorted, and the organization can retain the best talent within the organization. The talent management spectrum, part of the human resources solutions, may start from hiring new talent for the organization.
Still, it also includes essential performance indicators like training and development, employee management, and retention. All these functions form part of the talent management applications.
HR software companies provide the technical know-how to HR professionals with the help of technology to successfully implement the various functions of talent management in an organization. It is part of the overall human resource tools suite.
Before we get started and dive deep into the best talent management software or people management software available, let us look at the basic frequently asked questions around talent management software:
What is a talent management system?
The core of managing talent rests on the four major pillars of the HR function – performance management, compensation management, recruitment, and learning & development. The talent management system aims to promote high performance, low attrition, and motivation among employees.
What is talent management software?
Top talent management software or talent management tools aim to streamline the work across the four pillars of talent management – performance management, compensation management, recruitment, and learning & development – for the HR Manager. The best talent management software will provide solutions to complex issues like succession management, identifying the top performers, and hiring.
Why is talent management critical for HR?
Talent management plays an integral part in the company’s overall growth, and the HR Manager is the one driving it for the organization. As a result, it is critical to ensure that talent management pillars are looked at in great detail so that the business can hire better and, at the same time, retain, manage and develop employees within the organization.
It also aims to identify the top employees across functions as they drive business growth for the organization.
What are the critical features of HR talent management software?
Following are the critical features of a reliable HR talent management software:
- User Interface: The user interface of the software needs to be clean and appealing.
- Usability: The features need to be user-friendly, not too complex, and easy to understand.
- Support: The solution provider needs to provide a responsive support system backed by tutorials and training.
- Automation: The system must allow automating the CVs and filtering them through various mechanisms.
- Storage: The system must allow the user to upload, track and search the various documents for hiring and employee databases.
- Feedback: The system must provide feedback on various candidates to other team members during the hiring process.
- Employee induction: The system must provide onboarding support to the new employees, like providing them with essential policies, documents, etc., about the organization.
- Value for Money: The software must be priced according to the solutions it provides to HR and should be value for money.
- Integrations: In a world running on technology, the talent management solutions must allow integration with other tools to make the work seamless. For instance, the software must be able to connect with platforms like LinkedIn, etc.
Best Talent Management Software
It is frequently called the best human resource planning software available in the market as of date. Coming from the house of Talentsoft, Hellotalent provides a host of features like pulling social media data and aggregation, email, parsing of CVs, promotion of job opportunities, and collaboration by way of mentions and comments.
The essential features of the solution are available under the free plan, which includes features like tags and ratings, mobile app access, and one document per candidate. One can improve the email system and add more features. The free plan available offers many features and scalable recruiting tools and adds LinkedIn profiles to the database with ease. However, as mentioned, the limitation in the free plan includes 1 document per candidate.
One of the drawbacks is that the CV parser facility is unavailable in this enterprise plan. Also, the keyword search does not work as you expect all the time. Pricing starts from $63.50 per month, and there is a freemium version of the software also available.
It is used by major companies like Toyota, Starbucks, and VICE. It has one of the best mobile apps for both Android and iOS. The solution is designed to automate the hiring tasks and help in attracting the best talent.
The features offered under the solution include posting ten free global job boards and the possibility of advanced CSS and media options for the existing customized career site. The open API framework allows the user to integrate the solution with the current portal or CMS. The seamless integrations possible under the solution work well, and it also includes a chrome extension focused on talent sourcing.
Users have access to over 1250 free and paid job boards and a user-friendly candidate pipeline. However, there is no custom URL available in the entry plan and no functionality to send external emails. Pricing for the solution starts at $79/month and offers an 18-day free trial and a free demo.
It is a tool focused on the learning and development of the employees on a single platform. It aims to develop the company’s talent and not focus on hunting the company’s ones. Pathgather does an excellent job at what it is known for – learning and development.
With a high score on usability, the company is known for providing insightful videos, tutorials, and articles on various topics. However, the mobile version and app are not as useful as compared to the browser version. Pathgather pricing starts at $5/user/month.
4. SAP SuccessFactors
It is also known as the best enterprise talent management system in the market. SAP started as an enterprise resource planning company and gradually moved into talent management systems as well. The solution offers impressive solutions for team management and talent sourcing across the globe. SAP offers a host of tools that offer integrations across its solutions.
Features like common document authoring, identity management systems, and document management could be integrated with its talent solutions. However, one can improve many features like the availability of artificial intelligence to source candidates and increase customized rating systems’ functionality.
We can even streamline the administrative scenarios to avoid any further chaos and delay of work. The high quality of recognition and reward system, robust career path development, and an engaging onboarding portal are the robust features of this solution.
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5. ADP Workforce now
ADP has been featured on the coveted list of Fortune’s ‘World’s Most Admired Companies’ for around 12 years in a row and has been providing workforce-related solutions for over 70 years now. ADP Workforce Now offers flexibility in terms of customization of features.
The offered features include mobile-friendly job postings, compensation management, and self-service management. The software also carried these issues in line with the issues being faced on its websites, like dead ends on essential information and too much menu blocking. Major strong points for the solution are the mobile app functionality, company/state/federal forms all in one place, and verification of time as an easy task.
However, drawbacks like military time hours, the high minimum number of user requirements, and lag while updating entries multiple times are some things that could be made better. Pricing starts at 17.50/user/month with a minimum of 1000 users and offers a free demo.
6. Bullseye Engagement
It is among the best low-cost talent human resources management tools. It offers multiple opportunities for collaboration and comments with its feedback loop and social media wall. However, the not so seamless user interface makes it look old and is not very impressive. It offers a free demo and is priced at $3-4/user/month.
Used by major companies like Nike, Intel, Hilton, and IBM, Hiretual is designed with a simple and intuitive user interface. It has machine learning capabilities that help in candidate selection and has scalable server clusters for a robust infrastructure.
The people management software also scores high on UX and offers a simple list of tools. However, the general criticism Hiretual receives is that it is priced on the higher side and offers no practical solutions for a case of multiple recruiters in a single company.
While it has a good chrome extension and AI candidate sourcing from over 40 platforms, drawbacks like ten contacts per week on free plan and outlook and Gmail integrations only available in enterprise plan are some areas which could be improved. Pricing starts at $89/month and also has a freemium lite plan.
One of the essential points: MightyRecruiter is free to use. Users can post on 29+ job boards, but the distribution is active for only 48 hours. It also offers automated candidate tracking and delivery and can integrate with the existing ATS.
It has a complex per-view pricing model, and targeted leads through this need highly detailed data entry. Since it is a free tool, there are many things that you cannot do with it. However, it is an excellent tool for small businesses that are just taking off the ground.
It is one of the most customizable yet easy to use and intuitive platforms available for talent and payroll management. PeopleStreme is known for its ability to deliver on HR initiatives like training and development, incident management, and employee recognition.
It can manage a high workload of hiring but is unable to identify the same candidate twice. The company is not very transparent in terms of its pricing and only shares quotations upon request. It also does not have any free trial but only offers a demo.
Formally known as WCM, it has an intense training schedule and can manage high-volume recruiting through automation and artificial intelligence. It is well suited for large-scale campus recruitment and can schedule interviews on a large scale from the system.
Drawbacks like the inability to integrate with Outlook and change the date in the system make the functionality somewhat limited. The company is also not very transparent in sharing its pricing and offers a free demo.
The list as mentioned above features the Best Talent Management Software and has features that work for each talent management system. You can take a pick as per your requirements.
Some other major talent mgmt software includes Zoho, Saba, Trakstar, ClearCompany Jazz HR, Ascentis, Glint, BreezyHR, PeopleFluent, and OrangeHRM.
Let us know in the comments if you feel we can add more to the above list or if you have a query about any specific TMS.