The benefits of having a talent management system Connect and share data, a strategic hiring process, a better onboarding experience, retaining top talent, employee development, better employee experience, greater employee and manager participation. Talent management has a significant impact on employee motivation and productivity. According to Gallup, using employees' skills and strengths can make them “six times more likely to participate in work, 8% more productive and 15% less likely to quit their jobs”. The goal of talent management is to have the right people with the skills, commitment and behaviors necessary for current and future organizational success.
Talent acquisition and management are part of the same process; however, there are differences in their purpose. Other benefits of having talent management software include the simplification of human resources processes and the seamless integration with the key modules of human resources software or HCM, including onboarding, payroll, benefits, and time and support. Intalio can provide you with your talent management software that includes all essential human resources processes by applying hiring and appraisal modules, allowing your company to optimize its work life cycle. It allows an organization to access employable candidates when it needs new talent, and it can also provide a new perspective and new ideas to help energize an organization.
However, an inclusive talent management strategy considers the development of all employees, a strategy that can have significant benefits for both the employer and the employee, since the performance of an organization is not simply based on the number or quality of people who “fly a lot”. Implementing a talent management system will allow you to encourage your employees to maintain a high level of coherence in their work and ensure efficient work processes. Talent management allows companies to attract, develop and retain a workforce prepared to achieve business success. Talent management systems focus on providing strategic assistance to organizations in achieving long-term business objectives with respect to talent or human capital.
Talent management involves the strategic use of recognition and rewards, and is crucial to retaining top talent. However, talent management is evolving and is now becoming the management and development of the entire workforce, not just high-performing and those with high potential. The organization must establish strategies that provide the necessary flexibility so that talent can move freely around the organization, either laterally in similar roles or rising to positions of greater responsibility. Ongoing talent management is vital to keeping employees happy, engaged and motivated to succeed, as employee engagement, satisfaction and motivation are essential components of employee retention.
The exit process is a great way to collect data and feedback from talent on what they believe would continuously strengthen and improve the organization when it comes to culture, processes, and anything else they want to comment on. Conversely, those who cannot find or retain talent generally have low customer satisfaction and limited growth potential. Kaplan surveyed a total of 256 respondents from a wide range of industries about the key factors of talent management in their organizations. .