Best Talent Management Software54Talent management suites encompass strategic HR processes including recruiting, retaining, developing, rewarding and motivating performance. The most common talent management modules include Applicant Tracking Systems (ATS), Learning Management Systems (LMS), Employee Performance Management (EPM), 360-degree feedback, and Succession Management. Many of the components of talent management suites were traditionally purchased separately as niche products, but suite adoption is increasing.TCS Chroma1https://media.trustradius.com/vendor-logos/Fc/Xg/VZ43377Z7PS5-180x180.PNGKEA2https://media.trustradius.com/product-logos/SA/f2/2ZJ5QE6ZEPPP-180x180.JPEGDarwinbox3https://media.trustradius.com/vendor-logos/nK/4w/3N8TTIVH5PAQ-180x180.JPEGComenius Talent Management Cloud4https://media.trustradius.com/vendor-logos/bx/nH/6NPM2A9N6R0U-180x180.JPEG

Talent Management Software

Best Talent Management Software

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Talent Management Software Overview

What is Talent Management?

Talent management is sometimes considered a synonym for performance management. However, in reality, talent management software is a set of HR capabilities—including but not limited to performance management—that are considered strategically important to the organization. One possible definition is that talent management software is designed to manage talent through the entire lifecycle from talent acquisition through development to reward and measurement, in order to ensure that the best people are being hired, developed and trained and compensated to maximize value for the organization.

Talent Management Solutions

The primary constituent elements of talent management suites form a continuum of activities and processes, revolving around the most important resource in any organization--its people. The primary talent concerns of most organizations include:

  • Talent acquisition, especially improving the quality of hires
  • Speeding up the time to competency
  • Improving performance and development
  • Making sure that everyone is working on projects with the highest potential for impact
  • Ensuring that talent is rewarded and compensated
  • Finding a new generation of leaders
  • Continuously developing staff to meet the fast changing needs of the modern corporation

A talent management system is designed specifically to help organizations solve common people-related HR pain points and meet these highly strategic goals.

Talent Management Software Features & Capabilities

Most talent management suites cover these core capabilities:
  • Recruitment/ATS: Recruiting is offered either as a component of talent management suites or as standalone products. Features include job posting, candidate management, and applicant tracking.
  • Onboarding: Onboarding is the process of orienting and integrating new hires into the cultural and performance aspects of their job. The goal of onboarding is to speed up new hires' time-to-value and includes features like training tracking, assessments, and new hire portals.
  • Cascading Goal Alignment: Goal alignment features help coordinate employee's personal performance and career goals with specific, higher-level business goals and objectives. They include hierarchical goal setting, line-of-sight visibility, and performance tracking.
  • Performance Management: Performance management is the process of tracking employees' accomplishment of predetermined goals. It is measured via performance plans, status tracking, and reporting.

  • Employee Engagement: Employee engagement is a relatively new facet of talent management. It entails surveying employees to track engagement with culture over time, job satisfaction, and competency levels to target future employee development.
  • Learning Management: Learning management focuses on post-onboarding employee skills development and competencies, as well as customer training in some cases. The market for e-content and learning management systems offers general-use products and industry-focused offerings.
  • Compensation Management: Compensation management entails setting employee pay grades and incentive structures based on performance criteria.
  • Succession Planning: Succession planning is the identification and preparation of top talent within the company for professional growth and leadership positions. It includes the creation of succession plans themselves, as well as candidate tracking and ranking.

Pricing Information

Talent management software pricing varies depending on whether or not it's housed within a larger HR Management or HCM suite. Standalone talent management solution prices can range from $10-20/month/user. Talent management features are frequent components of full HCM suites, which rarely advertise set pricing plans and can vary widely. However, pricing for HCMs and standalone talent management solutions both generally scale by the number of users.

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Talent Management Products

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Tata Consultancy Services (TCS) offers Chroma, a cloud-based enterprise level talent management system.

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KEA is a talent management, corporate learning, and employee engagement solution. It personalizes user experience with the help of AI conversation engine and machine learning. According to the vendor, it is responsive, intelligent and track-able. KEA allows an employee to convert any document int...

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Darwinbox headquartered in Hyderabad offers an end-to-end HRMS software provide core HR functionality (e.g. employee data management), support for recruitment and onboarding, payroll management, time & attendance tracking, as well as comprehensive talent management and employee engagement fea...