A business world prediction says that after the retirement of the baby boomers, there will be an immense shortage of good manpower. This has prompted many firms to start selecting and grooming their successors in a sincere effort to ensure a smooth transition especially for critically important company positions.
Need for talent management software
Scouting for the right candidate can be easily done using the candidate tracking software, but grooming a talent is much more difficult. Of course there are numerous talent management software available which promise to help by
- Focussing on internal performances like
- Performance management,
- Management of internal and external client relations
- Developing skills related to
- Leadership development,
- Identification of talent gap
- Stressing on external initiatives like
- Attracting and bringing in external candidates proficient in their own fields and
- Seamlessly integrating them into the system and
- Encouraging retention by
- Giving talent and performance its due credit and acknowledgement,
- Challenging their potential and enabling them to go beyond their horizons,
- Offering lucrative financial and fringe benefits thereby making them feel wanted and needed by the company.
What to look for in talent management software
Generally this software forms a part of the group of software associated with a candidate tracking software. But there are still certain points that need to be considered before making the final choice. They are:
- The software should be able to properly streamline tasks and simplify them. Hence a good software will be
- Easy to learn,
- Easy to use and
- Easy to navigate.
This ensures that minimal time is spent on training employees in the proper use of this software.
- It should be in accordance to and support the company’s vision and mission. Hence to facilitate a balance between the work and life of the employee, the software should concentrate on supporting the best possible practices with relation to
- Performance and the compensation or remuneration given,
- Development of leadership qualities,
- Planning for and training a successor etc.
- It should be adaptable enough to blend in with the current systems of the company with relation to
- Recruitment of manpower,
- Payroll management and
- Management of human resources.
Also it needs to enable data-sharing among the relevant company personnel to facilitate unhindered bi-directional exchange of the same.
It is an anomaly that even with a high rate of unemployment, there is still a dearth of good performers. But with the use of the right talent management software, it is possible to bring about positive change in the attitude and the performance of existing employees and other potential candidates.