Filling vacant positions can often seem like a daunting task, no matter how large or small your business may be. From drafting a job posting to deciding where to post it, recruiting and talent acquisition are involved and complicated human resources tasks. Ongoing talent acquisition is even more involved, especially when it comes to managing the resumes and profiles of dozens, or even hundreds, of candidates.
Human resources management software has revolutionized the way that businesses approach staffing and talent management, among other things. Talent management software companies are now offering the standardization our business needs to not only make these processes hassle-free for you, but to give candidates a more personalized experience in recruitment and professional development.
Today's highly skilled talent pool is looking beyond the scope of the job to determine whether or not a company is a good fit for them. Being sure to get candidates’ background and personal details correct during the interview process is crucial in establishing a personalized hiring experience from the start. Talent management software can give you the edge over your competitors to make sure you secure the best talent for any role within your company.
What is Talent Management Software, and What Can it Do for My Business?
Whether you’re a small business owner/operator, or the head of a human resources department for a major corporation, talent management software can offer automation and standardization that will save your company both time and money.
There are countless talent management software companies pitching products to business owners; however, they may vary in the features they offer. Most talent management software companies offer, at a minimum, four basic services within the scope of the software. These are the following:
- Performance Management
- Learning and Development
- Compensation Management
In other words, talent management software will not only automate the hassles of the recruitment process, but will build a profile for each candidate that can track their performance and professional development indefinitely.
Personalizing the individual’s HR experience throughout the course of the employee’s career not only increases your chances of retaining highly skilled workers long-term, but will keep you organized and informed when making employee-specific decisions, like when to give a pay raise or promotion. It will also track training metrics for both the individual, and as a company-wide snapshot to help determine your workforce’s strengths and weaknesses.
How Talent Management Software Helps Find the Best Candidates for You
Talent management software uses company-specific algorithms and artificial intelligence to analyze company data and performance objectives and help determine what human capital is required to meet both short and long-term goals. Integrated talent management systems can work as part of a bigger human resources team not only to anticipate company needs but also to automate certain processes based on those needs.
For example, if you’re a company that requires constant recruitment of highly skilled workers to meet the demand of your large or expanding business, talent management software can create and post ads on your behalf, using multiple employment platforms. If you’re currently trying to meet a short term hiring objective but are planning to diversify and expand your business over the next several years, talent management software can create postings to pique the interest of future candidates and prepare for the next talent acquisition push.
Maybe you’re a small business with 50 to 100 employees, and only need to seek out candidates to fill vacancies once every year or two. For you, talent management software can offer all of the same benefits of automation and standardization and still save you money in the long-term with software as a service (SaaS). SaaS for talent management works the same way as other software subscriptions, like your Adobe or Microsoft subscriptions. You pay your monthly subscription fee and enjoy the e-benefits of the software for as long as you need it. When you’re done, your data is stored for future use.
Talent acquisition software can also manage your social media posts when you’re looking to recruit candidates. Many talent acquisition software types have integrated artificial intelligence that can generate and publish their own posts according to your HR needs using @ tags. This allows your business to reach out beyond those candidates that are actively seeking employment. Social media is a great way to reach pools of highly skilled candidates who are considering leaving their current jobs for better opportunities.
Working With Your Current HR Configuration
If integrating talent acquisition management software sounds like it could benefit your business, but you already have an HR department or team, please note: using this software doesn’t have to replace human jobs. It also doesn't need to completely replace your current system or technology. Many talent acquisition software companies have designed products that are meant to be a supplement to your current system of operation.
Talent management software can often be used as a plug-in to whatever HR management software you’re already using. Data tracked and organized within the software can be exported and migrated to your current configuration in many cases. If you’re employing a team of HR folks who are doing a great job for your business, this software can help that team level-up their recruitment and employee management skills and can save them time through subtask automation.
Screening large pools of applicants with software-generated screening tools can save an HR team countless hours of work. This software can also be used to identify and filter keywords and phrases in a large volume of resumes in minutes. Essentially, adding this software to your human resources tool belt cuts down the time it takes for your team or department to do mundane and time-consuming tasks when their time and talents are better focused elsewhere.
With so many talent acquisition software companies competing for your business right now, there’s no better time to try it. Shop and compare SaaS products to see which is best suited for your unique business needs, and take advantage of trial periods to determine which works best for you.