Talent Management Systems
As per Wikipedia, “a talent management system (TMS) is an integrated software suite that addresses the "four pillars" of talent management: recruitment; performance management; learning and development; and compensation management.”
These applications typically consist of several modules which provide businesses with enhanced capabilities in the areas of talent management, such as:
performance management
goal management
compensation management
talent acquisition / recruiting
Learning management systems
career development
succession planning
Learn the 7 Benefits of Having a Talent Management System
Companies use TMS systems for strategic assistance in accomplishing long-term enterprise goals in regards to talent, aka “human capital.”
Companies are spending more than ever on talent acquisition. Between 2007 and 2011, organisational spending on acquiring talent grew 68%
SaaS talent management software companies such as Cornerstone OnDemand, Oracle, SuccessFactors and ELMO Software are leading the way in strategic human resources applications.