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.|
Expert recommendations and analysis of the top software
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.
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 to make it easily accessible for 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.
UltiPro, cloud-based HRIS software 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.
Paycom automates a variety of the core tasks necessary for managing and retaining talent. It helps businesses streamline their processes and relieve the burden of unnecessary paperwork, allowing managers to focus on tasks that cannot be automated. Cloud-based deployment provides access to features from any internet-connected device, enabling users to complete tasks even when they’re out of the office. It facilitates tasks such as benefits administration, reporting and more.
Saba TalentSpace is an organically built cloud-based talent management suite that reinforces and drives higher employee performance across all talent programs — whether that is performance management, learning and development, succession and leadership, compensation or recruiting. The suite of applications are designed from the ground up to work together to drive performance, offering a consistent and user-friendly interface for every user. Saba offers industry-specific solutions to address the unique requirements and challenges of companies in healthcare, professional services, manufacturing, the public sector and more.
Paylocity is an all-in-one cloud payroll solution that enables organizations of every size to execute administrative tasks such as talent acquisition, time and labor management, and other core processes. Its functionality includes multiple configuration options that allow companies to customize according to their needs.It contains robust security measures such as encryption, real-time backups and secure data centers. It also has a user-friendly mobile app that is compatible with both iOS and Android devices.
Dayforce combines all major HR components into a cloud-based, unified HRMS. 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.
Constraints on talent are undoubtedly hurting enterprise growth and profitability. If organizations can’t fill their ranks with the right people, they can’t move the business forward. More than ever before, organizations are looking to HR to attract, develop, and retain employees who can help them achieve their business goals.
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. It comes equipped with additional features for general HR activities, such as document storage and management, customizable dashboards, and audit trails that help save time, configure employee profiles, track events and activities, and control access.
Talentreef provides SaaS-based social recruiting and talent management solutions, catering to the specific needs of the hourly workforce in the service industry. It helps organizations streamline their employee hiring, training and talent management operations. Its mobile-first focus helps streamline recruitment processes. It covers numerous processes, including recruitment marketing, ATS and assessments, onboarding and compliance, performance and engagement, training and development, employee self-service, reports and analytics and integrations. Its adoption can result in improved applicant flow, simplified employee onboarding, compliance and better employee performance.
Engage your workforce, align and assess talent, pay for performance, and plan your leadership succession. Workday TM works seamlessly with Workday HRM to let you do all of this from a single, unified application.
SuccessFactors combines a set of integrated products to form a complete suite for HCM. The HRIS system enables companies to execute basic human resource 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 HRMS software and more.
Originally called Lumesse, the recruiting system was acquired by Saba in 2018 and is now Saba Talent Acquisition. Designed for businesses of all sizes, it helps organizations find and retain the best candidates for open job positions. From onboarding to future planning, it helps to streamline the hiring process from beginning to end. By finding the most qualified candidates, integrating them into the team and ensuring future employee goals align with company employee life cycles, organizations can find and retain top employees.
Criterion's Human Capital Management (HCM) is a user-friendly, intuitive system that provides smoothly integrated Human Resources Benefits, Payroll and Talent Management. Regardless of your role, Criterion HCM provides the capabilities needed to effectively manage the entire employee lifecycle. Criterion's human resource management solution significantly reduces the time your HR department spends on administrative tasks and allows them to focus on strategic initiatives that impact the growth of your business. Following HR best practices and incorporating streamlined workflows, the system simplifies the administration of employee benefits and open enrollment, compliance reporting and tracking employee details and events.
By implementing Infor Talent Management, you’ll be able to keep your critical talent engaged and motivated while helping to support your company’s strategic goals. Infor Talent Management helps you link your people with your business strategy, empowering you to make an immediate and lasting impact on your organization’s success. Plus, it helps you arrange key HR functions so your organization can find and keep the right people.
Kenexa is part of IBM Smarter Workforce: Recruit and hire the right talent, compensate them fairly, manage their performance find your new stars. IBM Smarter Workforce can help you create a new way of working using solutions and technologies to hire and onboard, understand and engage, and grow and retain.
SumTotal Talent empowers your people with intuitive, personalized tools that engage employees in pursuing their own self-directed path for development and career growth, while ensuring their efforts are aligned with the goals and business demands of their team and the broader organization. We deliver new ways to engage your talent with innovative solutions that know, develop, grow and reward your workforce.
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.
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.
Ascentis offers HCM services to companies of all industries via its cloud-based suite. Its five modules include time and attendance, payroll, HR and benefits, talent, and recruiting. Users can choose to pick individual functionalities or the entire package of services, depending upon their needs. It facilitates process automation for several complex business processes and transactions, reduces the probability of errors, offers real-time analytics, eliminates manual work, and helps talent managers and organizations cater to their human resources and talent management requirements. It also provides ease-of-use through an interface that can be accessed anytime, anywhere on a desktop, tablet or smartphone.
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.
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.
Arcoro, formerly known as BirdDogHR, is a cloud-based HRIS solution that helps companies of all sizes manage employees throughout every stage of their employment. Users can leverage it to attract and hire top talent, align employee goals with company goals, create succession plans and ensure compliance with government regulations.Capabilities include core HR, payroll, benefits administration, recruiting, onboarding, learning management, performance management and compliance. Availability on mobile devices grants users 24/7 access from anywhere.
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.
Formerly known as HRSmart, this solution helps manage the Entire Employee Lifecycle. Seamlessly recruit, on–board, develop, compensate and track progress of your employees. Deltek Talent Management offers your company all the solutions it needs to manage the complete employee lifecycle on one built-in platform. With our extensive product line, you can efficiently handle Acquisition, Performance, Learning, Development and Compensation. To suit your company's specific needs, modules can be purchased individually or together as a unified employee management solution.
Talentsoft provides solutions for recruitment, performance, career development, learning, and compensation management that deliver concrete results. Our 100% Cloud-based application helps you better manage every stage of your employees’ careers – and transform your investment in people into a business asset.
TalentGuard’s performance management software enables companies to share corporate goals to align the organization and focus on results, support real-time feedback and career development planning, recognize and reward people based on key performance metrics, and recommend relevant learning resources to stimulate professional growth. With a robust performance review system, companies can move beyond the “one and done” evaluation process to an efficient and focused strategic talent management program.
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.
iSolved is a cloud-based suite of tools that encompasses payroll, benefits, learning management and other core human resources activities. As an all-in-one module, it simplifies management tasks, facilitates single sign-on (SSO) and unifies data to reduce errors and increase productivity. In addition to its primary capabilities, it has add-on modules for ACA compliance and integrations 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.
Grovo is a cloud-based learning application that enables organizations to deliver Microlearning content. Leverages a proprietary framework to offer bite-sized lessons to drive employee training across key business areas. Support for AICC standards and connectors allow companies to connect the solution to LMS applications and HR systems.
Engagedly is a holistic, people-focused and flexible performance management and engagement software best for companies with 50 to 5,000 employees. Based on best practices, our platform goes beyond performance reviews to Identify and harness everyone’s capabilities, aspirations, and potential to bring it all to the forefront and align with an organization’s strategic goals.
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.
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.
PeopleAdmin is a cloud-based platform that serves higher education and government clients. It handles duties including recruiting, life cycle management, employee learning and development, diversity and inclusion, reporting, position management and more. It’s run by the PowerSchool company which serves over 750 institutions. They use the same tech for multiple products under this umbrella including SchoolSprings, SearchSoft, SelectSuite, SelectSuite 5.8., TalentEd and TeacherMatch. Overall, they’re often used in higher education settings. SelectSuite is also used by government institutions.
PrismHR offers flexible, customizable and efficient solutions to support the comprehensive payroll, benefits and HR management requirements of small businesses and HR service providers. It provides assistive capabilities through the six key modules: platform, payroll, talent, time, employee portal and benefits. Its marketplace offerings include tools for financial wellness, identity protection, time and attendance, voluntary insurance, compliance, consulting services, taxes and more. These add-on capabilities are pre-integrated and give HR providers validated connections.
Fetcher is a headhunting solution designed to automate the most time-consuming aspects of the recruitment process — candidate discovery and outreach. It offers end-to-end support for recruitment management, contractor management, skills tracking and onboarding in one place. It follows a smart hiring and recruitment approach based on big data, automation and metrics. It uses a combination of AI and human expertise to discover and engage people who fit a company’s hiring criteria. Automation combats biases during recruitment and connects businesses to the most suitable candidates, whether they are actively looking for jobs or not. It combs through various online channels, including LinkedIn, GitHub, Stack Overflow, Twitter and Dribble to search for potential candidates and ways to contact them. Its smart technology enhances candidate quality, shortens time to interview and widens the talent pool. Its built-in CRM functionality helps tap into non-obvious sources, bringing up candidates that are both interested and qualified. By taking away the pain and expense of recruitment processes, it frees up organizations to invest time in the growth and development of their employees.
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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