As employers compete to recruit, retain, and engage top talent in their enterprises (with no indication that this will change in 2022), talent management has become the topic of the day in human resource administration. Coupled to this is the process of on-boarding.
Loosely speaking, on-boarding is the process that effortlessly transitions a worker from being initially a candidate with exceptional experience to an employee with outstanding experience. Not only does it have an enormous impact on the employee, it also translates to having a huge impact on the business itself. According to Forbes, a structured on-boarding process can increase staff retention by 82% and employee productivity by between 5% and 70%!
An employee on-boarding plan is even more essential in these days of changed business operational modalities especially when considering how many teams are working remotely or in a hybrid environment. Luckily, there is advanced HR technology containing talent management tools. These have been specifically designed to assist employers in developing a pleasant experience that supports newly hired employees (even those who are remotely situated from the core business activity) as well as to generate additional productivity within existing teams.
But why is talent management important and how do you decide which talent management software is best for your organisation?
WHY IS TALENT MANAGEMENT IMPORTANT?
Managing talent should be a normal activity in every organisation that employs many people. Saving time spent on sometimes tedious administrative tasks and rather channelling that time into functions more strategic to the employer by automating them makes good business sense.
This is where talent management software enters the picture.
Talent management software affords companies and organisations the tools needed to recruit candidates with the right attitude, skills and experience, confirming right from the start that they are a good fit with the organization’s vision, mission and culture.
WHAT IS TALENT MANAGEMENT SOFTWARE?
Talent management software is computer-based technology that human resource management professionals use to manage employees and in so doing, providing the company with a strategic and competitive advantage. Talent management can for instance refer to a standalone application from a niche vendor that specifically addresses one part of the process, such as a learning management system. Further, talent management software can help automate some of the company’s tedious but essential everyday jobs and especially optimize existing processes.
The HR team connects employees to the organization. Therefore, given its strategic position, it is critically important that the team spends more time on devising innovative ways to find, engage and retain employees than being held back with red tape (which is mostly paperwork!)
WHY IS TALENT MANAGEMENT SOFTWARE IMPORTANT?
An HR team swimming in administrative tasks is one that uses outdated tools and methods to attract talent, manage job applications (sometimes in overwhelming quantity) and ultimately hire what it considers to be suitable candidates. Typically the HR team types in and arranges all the paperwork manually but cannot send out the employment document beforehand which means that the newly employed have to do all their paperwork on their first day at work which is a time wasting and often expensive downside of the employment process.
Sadly, with so many HR administrative activities taking up their time, the HR team sometimes barely has time to set up an on-boarding plan for the new employees.
All of the above are clearly a negative experience for the candidate joining the company.
An essential function of every organization, whether big or small, is the recruitment of suitable talent, and it is here that talent management and employee experience are closely linked.
Similarly, performance, payroll and learning management systems are all integral parts of talent management that provides for a wonderful employee experience. Therefore, investing in talent management is vital, mainly when providing an excellent employee experience as the defining aspect of your company culture. And it starts, not from the first day as an employee, but rather from the moment they apply for a job in your company.
WHAT DOES TALENT MANAGEMENT SOFTWARE DO?
1. ACCELERATE RECRUITMENT
According to the recruiting benchmark report by Jobvite, the average time to hire is approximately 38 days. A talent management system has the potential to significantly speed up the process by automating all the repetitive tasks.
Right from the moment a position is available in a team, it is entirely possible to automate all the processes until that position is filled. With talent management software you can place a job requisition request, post job openings on multiple job boards, parse résumés and evaluate candidates – all in a single day! Once the applicant list is filtered, interviews scheduled with likely candidates, and collaboration with the hiring panel is set up in real time, and when everything looks good to go, make your chosen candidate an offer that cannot be refused! All of this, and a lot more, can be done from one single tool.
2. CONSOLIDATE EMPLOYEE DATA
Administrative tasks involve document management spread across shared drives, spreadsheets and diverse software products, all of which usually work independently of each other. Moreover, some of these tools require manual input, which in itself is time-consuming. Talent management software’s function is the streamlining and simplifying employee data for easy access by both the HR teams and the employee. When a new employee joins the company, the employment document can be saved against the employee’s profile. Thanks to the document management option a self-service portal (if the software provides that) allows employees to make changes to their profile as and when they see fit, which relieves the HR team of that particular pressure.
3. HELP RETAIN THE STAR EMPLOYEES
Nothing annoys employees more than redundant applications that consume time instead of saving it. While your organization might be using HRIS software that manages employee data, it is often frustrating to use, so there is the potential of employees delaying or postponing their responsibilities which can lead to operational delays and a poor employee experience. It goes without saying that using the right tools will provide a smooth experience to your employees right from day one. For example, an on-boarding tool will simply automate the whole on-boarding experience and will clearly create a great first impression with your new hires, and it sets an example as to how things would shape up in their new workplace going forward.
4. ASSESS EMPLOYEES’ PERFORMANCE AND REWARD THEM
Appreciation of their efforts always brings out the best in your employees. Why? It makes their work time spent on behalf of the organisation purpose-driven and therefore motivates them to strive to appreciate how their work impacts the employer’s overall goals. Talent management software will help them track their goals effectively and stay on the right track. By entering monthly, quarterly and half-yearly goals and assigning them to the team members you will be able to track their progress. A gentle shove from time to time telling them how they are progressing in achieving their goals coupled with occasional reminders and tangible work recognition will provide job satisfaction; while rewarding them when they exceed expectations is vital to their success.
5. DEVELOP A CAREER PATH FOR YOUR EMPLOYEES
Another important aspect where talent management software can help is in employee training and career development. Develop growth plans for your employees, and provide the means to achieve their development goals.
Talent management software often comes with a learning module. This module typically offers courses, training materials and assessment tests that employees can use to develop their skills and grow in their careers. Furthermore, it also advises them of positions open and internal promotions in the company which gives them the opportunity to grow within the company and thereby the employer scores by retaining its stellar employees.
6. THE MOTIVATION TO MAKE THE SWITCH
Manual techniques such as spreadsheets or paperwork take up space, are time consuming and expensive to manage. Some organizations may already be using a talent management system but find that it doesn’t meet all their requirements. Talent management software products may either not seem to be worth the price or they may not have features that suit their specific growth needs. Then some others use non-HR software like a CRM system to take care of their talent management needs, but fall short in meeting their growth needs. In such cases it therefore becomes essential to switch to a talent management system that is able to handle all your requirements.
7. WHAT IS THE BEST TALENT MANAGEMENT SOFTWARE?
The best on-boarding software solution is one that meets your on-boarding needs here and now and can handle these needs as your business expands. Simply put, it ideally should offer both a range of tools that quickly streamline your on-boarding process and contains features tailored to accommodate changing strategies. And – critically – first-class on-boarding software should enable you to measure on-boarding program success.
THINGS TO KEEP IN MIND WHILE CHOOSING TALENT MANAGEMENT SOFTWARE
1. SEPARATE NEEDS FROM WANTS
Most recruiters use recruiting CRM software when hiring new employees. The main advantage of CRM is that it improves the effectiveness of hiring candidates while also making the process simpler and faster. Its efficacy can however vary as technology advances. Some features are essential, while others may only be required later, for instance as your company grows. It is important to prioritize your requirements in the essential categories first of all (needs) and only later move on to nice-to-have features (wants).
2. FIND VENDORS WHO CAN OFFER WHAT YOU ARE LOOKING FOR
Once your needs have been identified, look for vendors that can provide all of them. It can be a web-based cloud solution or an offline on-premises system but whatever the case it should be a system that can handle your growth needs.
This can prove to be somewhat of a minefield and should be approached with caution. First, make sure that the pricing is affordable. Secondly, check if there are any add-ons or hidden payments involved. (Basically, read the small print very carefully!)
4. INTEGRATION CAPABILITIES
The questions to ask are: Does the product integrate with the other tools you are currently using? And, if not, does the product provide an API integration facility?
5. TALK TO THE TEAM
Most importantly, talk to the team and appreciate its input. Evaluate the team’s response and understand how the product is likely to grow in the future. Always treat your employees exactly as you want them to treat your best customers.
To conclude, it is worthwhile repeating here what Stephen Covey, Educator, Businessman, and author of 7 HABITS OF HIGHLY EFFECTIVE PEOPLE has to say.
“The success of your employees lies not just in the profits you make or the customers you gain. It depends on how your employees feel about your company. Work culture, leadership and remuneration all play a role in the employees’ perception of the company, but none of them compare to the experience they receive from their employers. Understand their needs, enhance their strengths and correct their weaknesses, and make them feel important. Use the right tools to automate repetitive tasks to provide a smooth experience from the day of joining until they retire, enabling HR leaders to be strategic business partners. After all, experiences build stories, and every employer would want their employees to tell good stories about them.”