Business organizations need to invest heavily in acquiring the right infrastructure to implement a strong and sustainable talent management strategy.
This helps them, through training, knowledge sharing and motivation, to manage and improve their talent pipeline, reduce attrition and thereby improve productivity. Strategic HR management is the key to this and this is exactly what a competent talent management software can do for you.
There is no ‘perfect window of opportunity’ when it comes to implementing or introducing a new talent management software. As long as the need for an HR technology solution is identified, it should be put into action. With competent cloud-based solutions like HRiQ available in the market, the HR department can evaluate the available options and decide on the one which allows maximum customization without ever compromising on features and functionality.
There are many aspects the HR department has to check for while choosing the right solution for their organization. The right one can achieve tangible and intangible benefits far beyond simple automation of HR operations. Here are six points of consideration that will ensure that your organization can successfully implement a strategic talent management software:
Selecting software which has the correct functionality is the most important factor for any business process to be automated. Only a software that is tailor-made for an organization can serve 110% of functionalities aligned to the organization. However, this can mean an exorbitant bill and months or years of customization. HR leaders can also consider an “off-the-shelf” talent management software with basic customization that covers basic functionalities.
The right solution should cover all the basic HR and talent management functionalities of the HR department such as an HRMS to maintain the employee master, a knowledge and competency database, timesheets, attendance records, payroll, appraisal forms, training management records and any form of government regulations that pertains to the organization.
Oftentimes the most commonly-used talent management software might not be the best choice for an organization, as these are often “out-of-the-box” solutions. Customizing a solution against business needs and requirements can be complex, but there is no need for HR leaders to be put off by such complexity, and settle instead for the ‘second-best’ solution.
HR leaders should do an extensive research into available solutions, as different software vendors allow customizations to different extents. Get the best one which allows the right amount of customization to align with the business processes.
This is one of the biggest reasons an HR department would go for a modern integrated talent management software. The right solution can give the HR manager a lot of real-time insights on their employees, how aligned they are to the assigned work, how engaged they are with the organization, their productivity levels and more.
Rather than analyzing numerous reports and doing extensive number-crunching, HR leaders should instead play a more strategic role by offering real-time visibility in measuring staff performance against business objectives, and make use of this available data for better workforce planning and strategy.
Mobility is another important factor especially relevant in the current economy. People are always on the move and cloud computing has made distances and borders disappear. Organizations that operate in multiple locations can leverage from cloud-accessible talent management software. This also applies to people who are always on the move such as sales managers or software implementation teams outsourced to remote locations.
Mobile talent management solutions ensure remote employees can access and input their timesheets, claims, or attendance as accurately and efficiently as those on-site. More importantly, managers and directors are ensured of always-on accessibility to all the data and reports and stay agile in their decision-making despite being on the move.
When the talent management function is aligned perfectly with other key departments, an organization functions more smoothly. Business goals should be well aligned with employee goals and results should be easily verified.
Implementing an HR and talent management software can add up to considerable capital investment on hardware, infrastructure, and human capital training, so budget is also a key factor in decision making.
While large organizations with ample budget can afford a top-of-the-line solution, they must also consider simultaneously the considerable non-monetary investment of human capital retraining.
For smaller companies or those without the necessary budget, cloud computing and technology sharing offered by reputed software vendors is an optimum solution to allow them to afford a talent management software.