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Talent Management System: An overview of its 9 pillars

Talent Management System (TMS) takes Human Resources Information System (HRIS) a step further. Though an HRIS helps the Human Resources of companies to maintain a database of the basic information of their workforce, a TMS enables them to maintain a record of more than just that. It aids them in hiring the right candidates, ensures employee retention and helps in their learning process. It is technology that is of mutual benefit to both the organisation and their perspective/existing employees.

 Let’s have a look at how a Talent Management System contributes to these goals.

 Hiring the right employee

Hiring employees who are the right fit for the role and company work culture is a humongous task for the HR. More so, because it requires them to hire talent from the huge talent pool. An efficient TMS attracts prospective talent, out of which some gets converted into hires to fill-up the available vacancies. A Talent Management System enables the HR to plan and execute recruitment strategies to hire talent.

 Create a culture of learning

Once Human Resource suitable talent, it is their responsibility to arrange for training sessions and create opportunities to imbibe knowledge. A Talent Management System comes into good use in this phase too. These enable employees to get an insight of what the job demands from them and are able to up skill on their existing skill sets. This improves their performance and productivity and meets the expectations of the company.

 Track performance

After the Talent Management System has ensured the environment that fosters learning and an in-depth understanding of the job responsibilities, the talent management suit closely monitors employee performances. It ensures that the HR has a comprehensive knowledge of the tasks that each of the employees are working on, time taken by employees to complete to each of their tasks etc. This facilitates transparency between the management and their employees, enabling the former to offer their feedback, allocate projects and take informed decisions.

 Decide on compensation

Initiative for creating a culture of learning, followed by performance management, optimises the productivity of employees and encourages innovation. This further creates the apt opportunity for employees to achieve excellence. The last of the four pillars of the

Talent Management System

ensures that employees get acknowledged for their exceptional efforts and achievements. A reward system motivates employees to aim higher, push their boundaries consistently and meet stiff targets for recognition. High performers and achievers enjoy attractive compensations and benefits like promotions that help them emerge as future thought leaders of the organisation. y46W�>�;z

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Employee monitoring software trends to look for

Automation is changing the way organisations are doing business. Backed by data, they are ensuring seamlessness in business process management. It can monitor health, location, mood and productivity, helping entrepreneurs take compelling business-decisions. Data-driven employee monitoring software is one such example. Gone are the days when businesses would make the best use of phone listening, video cameras and keyboard stroke recording to track productivity. These technologies would prove to be ineffective at places where they are impractical or difficult to be installed. Data-driven technology makes up for this gap.

Let’s have a look at some of the employee monitoring software that is changing the face of business across industries:

1.       Wearable devices for location and conversation

Rigid 9-to-5 work hours are gradually becoming passé. This is because entrepreneurs have begun to realise that not everyone reaches their peak of productivity at the same time of the day. Some work best in the mornings, some others may be most productive in the evenings and still others at some other time of the day. Employees have their personal lives to take care of along with their profession. This has given rise to the concept of work-life balance. Apart from entrepreneurs becoming increasingly more flexible in their approach, employee monitoring software emerging as a popular technology to track employee performance and ensure maximum productivity. Some instances are smart watches, and heart rate monitors encourage employees to enhance their productivity and keep illnesses at bay by maintaining a fitness routine.

2.       GPS and RFID portables

Also referred to as workflow optimisation tools, Radio Frequency Identification devices are increasingly being used in healthcare, transportation and logistics industries to track employees’ movements. This employee monitoring software help the concerned management to track employee performance to assign tasks accordingly and take other important decisions.

3.       People analytics software

The importance of data can hardly be ignored in today’s business scenario. Data offers actionable insights to entrepreneurs, helping them take important business-decisions. No wonder, data mining has driven employee monitoring software is one of the latest innovations being deployed for tracking employee productivity. This software is integrated into work devices – computers, laptops, tabs, Yammer and Slack chats, unprotected social media platforms – for Human Resources and the top management to extract and analyse data about employees and get insights on their productivity.

4.       Transplantable devices

These devices that are embedded with RFID microchips are being used to reduce theft. They are implanted under the skin of employees, after their consent. This technology is being used to ensure restricted access to locked doors and monitors photocopier use in organisations to protect their business secrets. Some of the industries where transplantable devices are being deployed are the diamonds and real estate industries, among others.

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HR software for small business - Leveraging technology for steadfast business growth

HR software has emerged as one of the latest technology to help organisations across industries optimise their productivity and achieve better business results. It is no different for small business. In fact, they need it even more to ensure maximum utilisation of available resources, which is often constrained for SMEs. Leveraging the power of technology is a sure-shot way of tracking productivity and taking conscious business decisions. This makes HR software for small business a necessity rather than an option that they can consider.

Let’s discuss some of the benefits that make HR software for small business.

Effective Performance Management

An agile HR software helps in monitoring and analysing the performance of each team in an organisation as it is a real-time analytics. This enables managers to track performances of each member of their teams, delegate projects accordingly, offer constructive feedback. This, in turn, ensures a healthy work culture. Apart from efficient Performance Management, it helps the organisation to encourage teamwork, which reduces attrition. What’s more, it also enables them to prepare for the future with a succession plan, charting a steady growth path for themselves.

Efficient Predictive Analytics

Josh Bersin, Principal and Founder of Bersin by Delloitte, believes that Data Analytics tools are a “must-have” for organisations. Naturally, this is no different for small businesses. According to a the DATIS 2017 State of Workforce Management survey, 84% of the respondents interviewed sais that they are ‘likely’ to invest in a predictive analytics tool in 2018. The indispensability of HR software for small business and established organisations has become apparent to business owners across industries. It improves employee retention and streamlines the hiring process.

Improve the talent acquisition process

Finding the right candidate for a vacancy poses a challenge for the HR. It is  greater challenge since they often need to fill up several vacancies across departments at the same time. Gone are the days when Human Resources would have to manually browse through a vast number of job applicants and hire the best-suited candidate for all positions. HR software for small business and established companies automate the resume screening process and analyse qualifications through chatbots accelerate the hiring process. Automation of interviews further optimises the utilisation of available time and overcome space constraint that is often a concern for small businesses. Further, the software are also capable of assessing the facial expressions of candidates being video interviewed, making hiring processes simpler while enhancing the quality of new hires.  

Blockchain

HR software aids Payroll Managers in restricting the costs incurred during the hiring process. Blockchain refers to encrypted digital ledger of public records that are structured into data clusters referred to as ‘blocks’. These are dispersed through social media and hiring networks. Tech experts at Gartner believe that most organisations will integrate HR software into their systems in the next few years, enhancing utilisation of resources.

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Recruit & Develop Talent in Life Sciences w/ Compliance & Training LMS. Reduce Onboarding Time & Track Employee Performance w/ Life Sciences Software.

Align individual goals to the corporate strategy and develop a high-performing workforce to ensure tomorrow's breakthroughs.

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Cloud Talent Management Software for Competency & Compliance LMS, Recruiting & Real-Time Performance Tracking. Improve Your Health & Safety Training Today!

Cornerstone for Healthcare provides a comprehensive suite of talent management solutions for the successful recruitment, development and engagement of staff throughout your entire healthcare organization.

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Financial Services Talent Management Solutions. Compliance & Certification Training for Employees. Identify Top Performers w/ Performance Tracking Software.

Enable financial institutions through the of power cloud-based talent management to develop and retain high-performing employees and align them to the organizational strategy.

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Talent Management Software for Energy Companies. Employee Compliance LMS & Real-Time Performance Tracking Software for Utility Companies.

Align strategic goals from top-to-bottom and deliver employee development programs across operational lines.

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Improve Employee Performance w/ Social LMS, Track Workforce w/ Mobile Performance Tracking Software & Make Recruiting Top Talent Easy.

Manage talent to ensure that customer experiences, brands and employee knowledge remain consistent, connected and current.

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Make the most of these Recruitment Software for nurturing employees

Recruiting, engaging and nurturing employees enable Human Resources to connect with prospective candidates, track their workflow and address their concerns. The software also ensure seamless business processes that enhance their productivity. The workforce of an organisation drive business growth and, hence, it goes without saying that recruiting the right employees at the right time is an integral part of business success.

Here are a few software which help organisations hire and retain the right employees;

Job aggregators

Job portals are an essential part of recruitment software that Human Resources cannot do without. The ability to search for prospective candidates basis keywords relevant to job vacancies gives the HR suitable leads. These software prove to be one of the leading sources of hires at 50%. Here are some examples.

LinkedIn – The platform that brands itself as the ‘world’s largest professional network’ is indeed one with a rapidly increasing professionals signing up for an account. It boasts of 500 mn members from across the globe, establishing itself as an indispensable medium for recruiters.  

CareerBuilder – It is another leading source for hires that is renowned for its services in recruitment and job seeking.

Recruitment CRMs

Recruitment Candidate Relationship Management (CRM) is emerging as an important part of recruitment software to attract and engage prospective candidates. These are some of the popular examples:

Jobvite – It is a preferred CRM for many across the globe and is popular for its Recruiter Nation survey that is held annually.

SmashFly – It is a CRM, customised for content marketing, which begins from the career site or page of a company.

Bullhorn – It is a leading recruiting software that is especially tailor-made for recruiting and staffing consultancies.

Applicant Tracking Systems

A recruiting software stack remains incomplete without an ATS. Its efficiency has making businesses across industries and sizes take notice of it and incorporate it as a part of their recruitment software systems. No wonder, an estimated 90% of large businesses and 68% SMEs have deployed it. Some examples are:

Taleo – With 23% market share, it is unarguably a reliable ATS. Further, its takeover by Oracle for $1.9 billion in 2012 speaks volumes about its demand.

Workday – A 570% increase in adoption between 2014 and 2016, it is fastest growing Applicant Tracking System. Walmart is one of its most prestigious customers.

Artificial Intelligence

IBM Watson – IBM brands their automated recruiting services as cognitive recruitment. It shot to fame by beating the seasoned chess master Garry Kasparov.

Ideal

– This automates the processes of resume screening, candidate sourcing and interview scheduling, saving time required in completing these recruitment processes manually. The ability to integrate it with the existing ATS eliminates the cumbersome task of deploying a new software.

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Essential Features of an Efficient Human Resource Management System

When automation of business processes is what’s driving excellence in organizations, why should the Human Resource department be left behind. However, not all organizations have implemented a Human Resource Management System or may not have selected one that includes the essential features. A HRMS without these features defeats the purpose of having such a system in place.

Let’s have a look at some of the important features that an HRM must have.

Database for employee information 

Maintaining hard copies of essential information of employees is cumbersome and time-consuming. An efficient Human Resource Management System eliminates the need for browsing through piles of hard copies. It streamlines the system of maintaining employee information, enabling tracking them all at one glance on the virtual electronic filing cabinet. 

Project Management 

Project Management enables the HR to track the employees working on a project and the status of the project. It ensures transparency in work processes and prevents communication gaps and bumps. 

Payroll Systems 

Payroll systems integrate employee data with their corresponding payroll. This helps the HR in tracking employee work hours and making changes in their pay. It enhances productivity and ensures quality and flexibility. The team working on the project can monitor the deadlines of a project, enabling them to schedule their work accordingly. The HR can keep a close tab on this and also take necessary actions to prevent impediments that may be adversely affecting project completion. The HR can evaluate performances on the digital medium and manage the appraisal process more efficiently. 

Training Management 

This feature of an efficient Human Resource Management System gives the HR the opportunity to track the need for upgrading the skills of employees or imparting necessary training for new skills. It not only improves the skill sets of employees but also impacts business efficiencies. 

Induction Management 

Though very few companies recognize the need for induction, it plays an important role in helping a new employee to understand the work ethics of the organization. It also makes it easier for them to understand the demands of the roles they have been hired for. This further contributes to their ability to adjust in the organization better and taking lesser time in becoming productive. It encourages teamwork and enables the organization to create a positive impression about them being an employee-centric workplace. 

Entry and Exit Management 

Onboarding and recruiting become streamlined when human resources can monitor new recruitments at one place. Human Resource Management System aids human resources in simplifying the application process, posting vacancies on social media and job portals and identifying candidates suitable for vacancies by filtering applicants. 

Similarly, Exit Management also becomes simplified as the software ensures accurate settlement. It is a time-saver that enables the HR to assign more time for other essential tasks. 

Employee Self Service 

ESS helps the Human Resources to track and update company information and essential personal data. This helps employees to self-serve for regular tasks and doubts about request for time-off, access current benefits that the organization offers, monitor their attendance record, etc.

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How talent management can help you acquire a high performance workplace

Every business has a different future plan for itself. Likewise, each business’ future plans give the world an indication of their long term goals of talent acquisition and management. Developing a pool of talent that cultivates from the company is extremely vital for the company’s success. If the goal of your company is to form a high performing workplace that lacks nowhere when it comes to talent, you need to have a talent management for your business that works on a strategic framework.

 What exactly sets apart a talent management system from the HR?

Talent management is more strategic when compared to HR. HR mainly focuses on keeping an account of the paychecks, complaints, vacation, leaves, etc. while talent management focuses on helping the talent in the organization progress with time. While talent management focuses on the company on a wider term and the employees on a long term level, HR just focuses on the day-to-day activities.

 Here are 3 paramount steps to develop a high performance workplace:

 1. Have a clear sense of direction with your employees

Being clearly aware of what you want your company to achieve will help you take the right steps to get closer to your goal. Apart from being paid for what they do, better employees look for a purpose, something that gives them a sense of fulfillment when they work for a company. When these goals of the company are aligned with the requirements of the employee, the employees tend to give their best shot during work at all times. With this practice, employee satisfaction is guaranteed, plus the goals of the company become easier to achieve when the employees are thoroughly involved in the process of driving the company’s growth.

 2. Develop collaboration wherever possible

Working in a team enables employees to connect with other fellow employees more, and also gives them the chance to learn something new on a regular basis. For companies that look to progress quickly, knowledge and experience is something that needs to be readily available within the workplace. In most cases, a lot of talent is already present in the workplace; the real task is to bring that out. Beyond encouraging collaboration at work, the organization needs to develop and implement tools that make collaboration easier; and that is exactly what talent management for your business will help you with.

 3. Establish goals that are in constant sync

It is important for your company’s goals to be a major part of the goals of your employees as well. Being integrated helps working in harmony and accomplishing things that both the parties intend to. According to HR Trend, talent analytics should be the foundation of building up talent in an organization. When you focus more on the employees, even individually catering to their long term goals, you will be able to align them with the company’s goals in some or the other way eventually. This will help the company stay ahead with their progress level at all times and the employees will connect with the company and its growth more effectively.

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5 ways in which HR analytics help improve workplace performance

Analytical data can be used to improve several aspects in an organization. In the HR department of an organization, is directly responsible for the progress and productivity of the employees in an organization. The use of HR analytics is mostly misunderstood, or is not paid attention to by the department and the employees. It is quite essential for analytics to be paid attention to in an organization for better progress of the workplace. Here’s how use of HR analytics can transform the workplace.

 1. Reduces turnover in the company

Turnover in the company is an ongoing process and reducing it is the ultimate task. HR analytics use predictive modeling to foresee outcomes of the candidates and helps in reducing turnover by matching the candidates with the correct type of work in the organization. The HR analytics software that will be used by the organization determines the traits and characteristics of the employees and scales their performance to give you a classified report to work on making the organization better.

 2. Compares performance with responsibilities

In a lot of companies, employees that are exceptionally great at one aspect in work can lack talent in another. HR professionals need to take this fact quite seriously if they wish to witness positive changes in the workplace. Assigning responsibilities based on the employees’ strengths will not just enhance the performance report of the employee but also enhance the workplace performance.

 3. Enhances employee engagement

Engagement of employees has a direct relation with their productivity. According to Office Vibe, only 13% of the worldwide employees are engaged with their current jobs. It is disturbing because it shows the lack of attention to the employees by their management. Thus it is considerably important for the HR to look after the employees of their organization and keep the engagement levels stable. After all, it has a direct relation with employee retention of the company. With the assistance of HR analytics, the HR professionals can take advantage of the insights and gather all possible information that is important for the company’s success.

 4. Pattern identification

Every HR professional will know that hiring the right employees is not where their work stops, it’s where it starts. They need to also forecast the need of the employees for a certain team within a certain period of time, and that is where HR analytics will come into play. Based on the history of the patterns, HR analytics software will help you identify the need for more employees within the organization.

 5. Helps make the data better

Lastly, just having an access to analytics is not the key to a progressing and successful organization. It also takes constant improvement and action that can help cultivate better practices for the improvement of the workplace. This is why trained HR professionals are supposed to act on these analytics making the data even stronger with time. It just shows that there is more room for improvement in the workplace but it gives a better insight on what exactly to improve.