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Talent management software covers a wide array of tasks relating to oversight of a workforce. Because the needs of employees are so diverse, talent management software can range from training software to compensation management software. In addition, it includes recruiting software like applicant tracking systems and pre-employment screening software, as these are the tools an organization uses to bring in talent.
When assessing the talent management ecosystem, it makes sense to view it in a chronologically linear fashion. Recruiting software is the first step and is useful in bolstering a company’s workforce from both a quantity and quality standpoint. From there, an organization may implement employee engagement and training elearning software. This software can be utilized by all employees but may be most useful for new employees in the onboarding process. Performance management and compensation management software rounds out the talent management category as it is applied to every single employee in an organization, no matter how long their tenure.
As a workforce grows, it becomes more and more difficult for management and HR to manage and administer these processes manually. Due to this, it’s not uncommon for growing organizations to invest in one or several products within the talent management category. Often, these products will integrate with one another, and sometimes a single product will have functionality that ranges across several of the categories.
By investing and effectively implementing talent management software, HR can spend less time on tedious tasks. Performance management and employee engagement software enables management teams to better view how their employees are performing and if any employees are at a high risk of leaving. Ultimately, all talent management software aims to provide insights to management and HR to help them proactively create a positive work environment.