Talent Management Systems Buyer's Guide
The Best Talent Management System Software Is All About Employee Progress
By Jeremy Ames, CEO, Hive Tech HR
The war for finding and keeping talent is raging, and most companies have realized that their greatest weapon might just be technology. Your competitor has already built their arsenal, and you’ve realized that yours is antiquated, insufficient or, worse yet, non-existent. You’re missing out on the best recruits, and some of your best workers are leaving. It’s time to turn the tide in your favor, but where to start?
You begin your search, and you’re immediately stuck. What even is a talent management system? You’re not alone in your confusion, which stems directly from the name itself. “Managing” your talent should happen from recruitment, throughout their employment and even beyond when they leave. In other words, the whole lifecycle.
Reality, however, has brought us a slightly different definition, removing functions like recruiting, payroll, benefits, pure employee data management and more. What we’re left with are four commonly accepted pillars of what you’re trying to do by “managing” your talent: attracting, developing, motivating and retaining.
- Talent management solutions help you find, hire and onboard the best candidates.
- Once hired, continued education and reward systems advance your workforce.
- A comprehensive talent management system is an all-inclusive solution for developing your team throughout the employee lifecycle.
What This Guide Covers
See how the top 10 leaders fare against the most common key requirements
Talent management involves shaping your workforce into the most highly-qualified team possible, both individually and on a grander scale. With the help ofsoftware, your business can begin this process in depth.
At the core, talent management solutions are meant to streamline standard personnel-related procedures such as recruiting, onboarding, learning management, reward programs and retention. The advanced software of today goes beyond this base functionality with features that assist companies and their employees with goal setting and planning.
Again, the main benefit of implementing software is progression. For businesses, this means being prepared for all staff changes and having the best tools to respond to those shifts. Improving your workforce is an added plus of using the best talent management software. Employees benefit from these development features as well, in addition to using the software for career planning.
Expert recommendations and analysis of the top software
Attracting Highly Qualified Candidates
|With the help of software, create a simplified, guided candidate experience. Actively and proactively find the best talent by conveying a company culture candidates will want to join. Talent management solutions streamline the interview process by matching on job fit and other success criteria, incorporating newer technology like video interviewing, encouraging internal collaboration and comfortably transitioning the individual from “candidate” to “team member.”|
Developing Employee Skill Sets
|Talent management systems deliver functionality that tracks learning needs and encourages, measures and manages employee performance to foster and promote development. Development features include career planning, focus on leadership development and adequately facilitating succession planning.|
Motivating Your Workforce
|Properly connect your compensation management to achievement and offer rewards and recognition to drive employee performance.|
Retaining Top Talent
|Retain your best employees with software that encourages employee growth. In the event you can’t retain them, a talent management solution should provide smooth offboarding functionality as well as a path back to the talent pipeline.|
Basic Features & Functionality
|Recruiting||Recruiting tools help you attract top talent through multiple recruitment channels, including job boards, social media and your business’s website.|
|Applicant Tracking||Throughout the application process, an applicant tracking system (ATS) will monitor candidate progress from resume submission to interview. An ATS helps you organize potential employees as they move forward.|
|Onboarding||Once a new employee is hired, a streamlined onboarding process is essential. A comprehensive talent management system ensures new hires are properly brought on to the team, complete with the necessary paperwork.|
|Employee Lifecycle Management||Lifecycle management features guide employee progress throughout their time at a company, from recruitment to eventual retirement, job change or termination. This includes documentation and other formal processes.|
|Learning Management||Build lesson plans to develop employee skill sets and offer continued education as processes evolve.|
|Performance Management||Utilize key performance indicators (KPI) to track employee performance and provide real-time feedback.|
Expert recommendations and analysis of the top software
Advanced Features to Consider
|Career Management||Give employees the tools to work toward their career goals through resume maintenance, training and path planning.|
|Succession Management||Construct a plan for succession so you are prepared in the event of departures. Identify the best employees at your company to promote to open positions, and subsequently fill any resulting vacancies.|
|Compensation Management||Manage payment and create strategies for issuing bonuses, shares, overtime and commission.|
|Leadership Development||Train employees to progress into leadership roles, raising the skill level of your workforce and preparing for promotions in the process.|
Expert recommendations and analysis of the best software
Talent Management Software Comparison
Combining what you want with what’s possible, you have one very key decision to make. How wide or narrow should your software be? For example, your learning management requirements may not be met by a core HRM suite or talent management software. You may need to separate that into its own product search.
You need to think about how the best software vendors fit into your roadmap, and beyond that, how your roadmap fits with overall HCM goals. You want vendors to talk to you about how they’d see their product “fitting in” with your overall HCM ecosystem. Talk about your current state and the vision for your future state. For example, if you’re talking with companies that harp on integrations, have them talk to you specifically about how they’d help you get those integrations up and running during implementation.
Questions to Ask Yourself
- What processes do you currently have in place for talent management?
- What’s wrong with your current software (if you have one)?
- If your business doesn’t currently use talent management software, why are you interested in adopting a system?
- Which features are most important to your organization?
- Will your current infrastructure be responsive to software adoption? If not, what changes should be made in preparation?
- What budget and time constraints do you have?
Questions to Ask Vendors
- What support services do you offer?
- Do you assist in implementation?
- Do your talent management solutions have mobile capabilities?
- Does the software include analytics functions?
- Is a core HR base included in the platform?
- Is the software scalable?
Expert recommendations and analysis of the top software
- Talent Management Software Features and Requirements Checklist
- Why You Should Pay More for Your Talent Management System
- 7 Ways Talent Management Software Helps Get the Best Out of Employee Hiring and Performance
About the Author
Jeremy Ames is CEO of Hive Tech HR. He has worked as a director, consultant, software implementer, and international businessman for several companies, including being the former CFO on the Board of Directors of IHRIM and member of the SHRM HR Technology and Management Expertise Panel. Outside of work, Jeremy is a shortstop, fictional writer, and father, among other roles and interests. He enjoys satisfying client needs, closing deals, writing, long walks on a Cape Cod beach at sunset with the waves lapping at the shore, and humor.Disclaimer: The author did not create nor is he responsible for the content of the leaderboard, nor does he explicitly endorse the ranking order.
Paycom’s software suite automates a variety of the core tasks necessary for attracting, managing and retaining talent. It helps businesses to streamline their processes and relieve the burden of unnecessary paperwork, allowing managers to focus on tasks that cannot be automated. Its cloud-based deployment lets managers access its features from any internet-connected device, enabling them to complete tasks even when they’re out of the office. It facilitates tasks such as benefits administration, reporting, onboarding and learning management.
Paylocity is an all-in-one HR platform that enables organizations of every size to execute benefits administration, payroll, talent management, time and labor management, and other core processes. The cloud-based software includes multiple customization and configuration options, allowing organizations to scale according to their needs. It contains robust security measures such as encryption, real-time backups and numerous data centers.The solution has mobile apps for iOS and Android devices, giving users flexible access to information. Users can update contact information, receive notifications, view timesheets, follow company updates and perform other actions. Several welcome screens introduce new users to the app’s main features.
UltiPro, a cloud-based solution from Ultimate Software, brings together core HR, talent management and payroll into a unified HCM suite. Allows users different levels of access that can be customized based on business needs.In addition to these capabilities, the software is equipped with a robust set of business intelligence and predictive analytics tools. Powered by AI and machine learning, they provide data insights to drive intelligent decisions.
Namely is a cloud-based platform for mid-sized businesses. A suite of connected modules allows organizations to manage payroll, time and attendance, benefits, and talent. Also equipped with additional features for general HR activities, such as document storage and management, customizable dashboards, and audit trails.
ISolved is a cloud-based suite of tools that encompasses payroll, benefits, learning management and other core HR activities. As an all-in-one platform, it simplifies tasks, facilitates single sign-on (SSO), and unifies data to reduce errors and increase productivity. The software is designed to serve small and medium-sized businesses.In addition to its primary capabilities, it has add-on modules for ACA compliance as well as integration with carriers for 401K and benefits. It also offers a managed benefits service add-on that provides COBRA, FSA, HSA and other expanded benefits options.
Dayforce HCM combines all major HR components into a cloud-based, unified solution. Suitable for smaller companies that need to manage over 100 employees to enterprises with thousands of employees, this program helps businesses tackle every aspect of the employee lifecycle. Companies can take advantage of professional services, payroll tax filing and standardized implementation processes via Dayforce Activate.
Be the employer everyone wants to stay and grow withFoster a culture of high performance and career mobility through ongoing, consistent feedback, reviews, rewards and recognition. All within an intuitive, people-friendly system.
NEOGOV delivers comprehensive human resource capabilities for the public sector and education organizations. The SaaS-based suite includes core HR, applicant tracking, onboarding, performance management, learning management, payroll, time and attendance, and e-forms. It’s suitable for small, medium and large businesses.
ICIMS is a cloud-based, three-product suite that can be used together or separately and can integrate with your current HR or applicant tracking process. It’s designed to help medium to large businesses attract and hire talented candidates for open positions within their organization. Assisting with every step, from screening applicants to onboarding new employees, it’s able to streamline the process from start to finish. A user-friendly interface enhances users’ ability to expand their team with the best talent and makes it easy for candidates to find and apply for open positions.
BambooHR is an HRMS designed for small and medium-sized businesses and provides solutions for organizations in all industries. Based in the cloud, it streamlines data collection throughout the employee lifecycle, warehousing relevant information in a centralized database making it easily accessible to both managers and individual employees. It facilitates hiring, onboarding, compensation administration, performance management, provides employee self-service capabilities and everything in-between. It allows organizations to make customizations, set multiple administrators and maintain inactive employees.
Willis Towers Watson is a global advisory and financial services company that designs solutions to manage talent, risk, benefits/compensation and money for organizations. It allows company leadership to analyze and understand people, capital, and risks in their organization.It helps evaluate and manage performance, change, competency, diversity and inclusion, investments, rewards and other aspects. They also offer services including consulting, performance management, insurance and a variety of others to their consumers.
Ellucian is a talent management SaaS product designed to facilitate recruiting and hiring processes for organizations in the higher education field. It is especially adept at combining functionalities designed to both find and retain highly qualified staff and faculty members. By combining both hiring and development processes, it helps organizations to not only find but also develop and retain top performers, ensuring that the business operates at its highest level. Because it is easy to access, users can benefit by completing a variety of tasks without any added stress about how or when those tasks will be completed.
JobDiva is a cloud-based Platform-as-a-service (PaaS) for staffing enterprises, incorporating a patent-protected recruiting engine. It is supported by a full suite of advanced features that drive the hiring process from the first engagement to hiring and onboarding Its partner ecosystem offers more than 150 integrations that provide robust recruiting and hiring capabilities that assist throughout every phase of the process. Through its implementation, businesses are able to decrease their time-to-hire, engage easily with candidates and grow their organizations.
SuccessFactors HR combines a set of integrated products to form a complete suite for HCM. The HR portfolio enables companies to execute basic HR functions as well as expand to strategic initiatives and planning to remain competitive. Based in the cloud, uses technology such as AI and machine learning to solve pressing human resources demands. In addition, SAP offers consulting and professional services to help companies implement integrations, deploy HR solutions and more.
CareerPlug is a user-friendly system that automates the hiring process. It’s designed to make hiring simple for everyone involved and provides access to hiring best practices. It handles the entire hiring process, from job posting creation to background checks.
Ascentis HRIS/HRMS is a wizard-driven, intuitive HR software solution for mid-market companies of all industries. When managing employee data, Ascentis HR automates complex business transactions, eliminates manual processes, and reduces systemic errors.
BerniePortal is an online all-in-one HR platform that helps small and medium-sized employers solve the transactional challenges of HR with software and the strategic challenges of healthcare with a trusted advisor. BerniePortal handles applicant tracking, onboarding, PTO tracking, time and attendance, compliance, benefits administration, 1095-C reporting, and COBRA. BerniePortal also offers a variety of payroll and carrier integration options. BerniePortal is supported by a network of healthcare advisors and brokers nationwide.
Founded in 2004 as HRM Direct, ClearCompany offers solutions for hiring, retaining and engaging employees. This product supplies features to assist with managing employees throughout every stage of their lifecycle. It combines a variety of core HR functions within one platform, providing users with a full HR suite. Provides users with branded career sites, hiring, onboarding and many more functionalities. Suitable for businesses of all sizes in all industries.
Founded in 2001, Trakstar launched an enhanced version of their platform in 2012 with a focus on customer experience. Assists HR managers with all steps of the performance review process, including goal setting and conducting evaluations. Offers a variety of tools to users including self-appraisal functionality, goal tracking, note taking, reporting and more. In addition to evaluating performance, Trakstar also assists with boosting employee engagement.
Fingercheck is a cloud-based human resources system. The system provides tools that help to streamline hiring, time tracking and payroll tasks along with various other HR management tasks. Provides benefits to users at all levels, allowing both employees and employers to streamline workflows. Users can easily automate their processes.
Cornerstone Growth Edition simplifies performance reviews and eLearning with a mobile-friendly, easily-configurable interface that can be up and running in just a few hours. With Cornerstone Growth Edition, performance reviews are simple and intuitive. Our solution not only automates employee performance reviews, it gives managers practical tips and guidance to develop their employees and make smarter business decisions.
With the power of Unified Talent Management, organizations can bring all phases of the employee lifecycle under one platform. Unified Talent Management delivers the single source of truth into an organization's entire workforce.
Breezy HR is a cloud-based software focused on collaborative, proactive recruiting. It is user-friendly and has customization and integration capabilities. It manages candidate sourcing, job advertising, career page creation, interviewing and scheduling and more.
PeopleFluent is a cloud-based software used for recruiting, learning, succession management, compensation and employee development. It aids managers, HR professionals and other staff with onboarding, organization charting, career path management, reporting and more. The overall goal is to motivate and educate the workforce. Part of Learning Technologies Group plc (LTG), it operates in over 200 countries with over 25 million users.
To deal with the challenges in today’s healthcare environment, you need to build a workforce that’s focused on providing the best possible care — a Patient-Centered Workforce. Highly-engaged, motivated people who always strive for excellence individually and within teams. Our Quality Talent SuiteSM is made up of software, service, content, and analytics that will help you build, engage, and retain a Patient-Centered Workforce.
SmartLinx provides a complete end-to-end Workforce HR suite of solutions that streamline operations, increase efficiency, eliminate unnecessary labor expense, and reduce compliance risk. Thousands of workplaces rely on SmartLinx to manage, monitor and optimize their people resources and costs. Founded in 2000, SmartLinx serves clients with a solution suite that includes applicant tracking, staff schedule optimization, time and attendance, human resources, payroll, employee self-service, business analytics, licensing and training management, ACA compliance management, mobility, and time clocks, offered with direct access for management and their teams.
Newton is the brainchild of recruiting professionals who launched the product after having run hundreds of high-performance recruiting programs across the US. Easy-to-use, easy-to-implement, and affordable for any size of company regardless of how fast they were growing. Offers features such as fully branded careers pages, email templates, online applications, offer approvals and letters, recruiting analytics, employee referrals, and background checks. Users can also confirm, schedule or reschedule interview by checking the availability of the team and the candidate.
Greenhouse Recruiting is a software suite for systematically recruiting and hiring the best talent. It takes a structured approach to ensure your recruiting efforts are powerful as well as bias-free. It integrates with many other HRIS applications and is customizable and scalable. It emphasizes providing a positive candidate experience and tracking those efforts with reporting and surveys.
We believe that hiring a new employee should be an efficient and rewarding experience that results in a timely return on your investment. We are dedicated to providing simple, yet powerful systems to ensure you hire the most qualified employees in a fraction of the time, at a fraction of the cost.
ApplicantStack is an applicant tracking and recruiting system. The organization serves over 200 industries, 20,000 hiring managers and 20 million candidates. It allows users to manage candidates, onboard employees, post to job boards and more. Some of its top functions include background checks, reporting, completing new hire paperwork and more.
Brainier is a completely new, mobile ready, cloud-based learning management platform that provides customers with an extremely high level of flexibility for the rapidly changing needs of today’s learners. At its core, Elan is a LMS with all of the expected features built-in and included out-of-the-box.
Performance Pro industry-leading performance management and salary administration applications. Our employee software is time-tested, content rich and are used by over 100,000 professionals. Designed by human resource professionals with decades of experience to be secure, effective, flexible and easy to use.
Hirebridge is an end-to-end cloud-based software for optimizing talent acquisition with a range of solutions available for different industries and business sizes. It’s designed to reduce the time and cost to hire while providing a simple user experience. It’s supported by capabilities that help HR professionals manage the entire recruiting and hiring process.
Workday HCM is a SaaS solution that unifies all aspects of managing the employee lifecycle in a single system. The suite of modules allows organizations to operate globally, run payroll, administer benefits, manage talent and facilitate learning, among other things.While designed for medium and large enterprises, the platform can support the needs of smaller businesses as well. A business process framework provides control for all internal processes. The system is also equipped with audit tools and built-in security capabilities, and it offers mobile apps for flexible access.
Pricing & Cost Guide
See the Price/User for the top talent management software system… plus the most important considerations and questions to ask when shopping.
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