Talent management tools include software intended to automatize everything we’ve discussed above. So, they proceed with data gathered at each stage of the talent management cycle, store them and provide statistics. Additionally, they serve as a platform for communication
between personnel, enabling them to discuss work questions, leave feedback, or ask for advice. They may be integrated with LMS to improve training performance by monitoring the educational process and helping management make better decisions.
So, which features you can find in most TMSs? Let’s see.
- Data gathering and analytics include staff information, performance metrics, and financial statistics of the company. The TMS dashboard shows general information about the company’s human resources.
- Employee profiles enable staff to access their user accounts with information about their name, position, skills, and current responsibilities. Also, they may use these profiles for communication and networking.
- Recruiting management for the HR department includes integration with popular job search websites and facilitates searching for candidates with the required skills and characteristics. This section also contains tools such as digital signatures to sign work agreements and other documents quickly.
- Succession management is all about planning the employee’s path in the company. In this section, leadership defines the company’s missions and sets goals to guide and allocate employees. Based on these, employees may see what they should do in the company and which competencies they should develop.
- Goal and performance management is where the company’s leadership sets weekly, monthly, and yearly goals and then monitors their completion based on the data flow. Also, this section often includes the possibility to add feedback to the employees’
- Compensation management and reporting include statistics based on the completed goals, financial performance, and other metrics. Here, the company’s management may calculate a fair salary based on these statistics and make other staff-related decisions.
- Learning and development section is where employees' skills may be evaluated to plan their improvement. Here, third-party LMS vendors are often integrated to provide a seamless experience of various online courses dedicated to improving required skills.
As you see, these features cover the talent management cycle fully. See below what an interface of a typical TMS (Remofirst) dashboard looks like: it includes a list of workers, their countries, expenses, and quick statistics.