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.Infor CloudSuite HCM1https://media.trustradius.com/vendor-logos/qg/yE/TTWOKM9V0PAB-180x180.JPEGCreate LMS2https://media.trustradius.com/vendor-logos/L3/Yg/3QU0LZ85X3AT-180x180.JPEGHaufe Talent Management (umantis)3https://media.trustradius.com/vendor-logos/iL/bC/UCTX1RUXQPUH-180x180.JPEGInfor Talent Management4https://media.trustradius.com/vendor-logos/qg/yE/TTWOKM9V0PAB-180x180.JPEGPSI True Talent (formerly Align Talent)5https://media.trustradius.com/vendor-logos/uh/rv/RIM33TFBG3VK-180x180.PNG

Talent Management Software

Best Talent Management Software

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Talent Management Software Overview

What is Talent Management?

Talent management is a set of HR capabilities that are considered strategically important to the organization’s labor or workforce. Talent management software is designed to manage talent through the entire lifecycle from talent acquisition through development to reward and measurement. Talent management software helps ensure that the best people are being hired, developed, trained, and compensated to maximize value for the organization.

Talent Management Systems

Talent management software forms 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 and strategic planning 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. These systems can be broadly applicable to a range of industries and talent pools. Some talent management systems focus on specialized talent pools with unique needs, such as healthcare talent management software.

Talent Management Software Features & Capabilities

Most talent management software covers 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 entails surveying employees to track engagement with culture, job satisfaction, and competency levels to target future employee development. It is a relatively new facet of talent management.

  • 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.

Talent Management Systems Comparison

To compare different talent management systems, consider these aspects of each software offering:

  1. Talent management suite vs HCM suite: Talent management capabilities exist both in standalone suites and as modules of more comprehensive Human Capital Management suites. If you already have an HR management suite and just need an external talent management product, a standalone offering may be more efficient and cost-effective. However, if you’re looking for additional HR software beyond talent management, a more comprehensive suite can pose substantial integration and data centralization benefits.

  2. Integration with other software you use: Integration and data flow within your HR environment is an increasingly important aspect of talent management, according to our study of talent management professionals and external research. In response to this need, many vendors are improving their ability to integrate with various 3rd party software. To get the most out of your own data, make sure that every product you’re considering can demonstrably integrate with the other software you’re using.

  3. User base demographics: Most talent management users skew towards larger businesses and enterprises. As businesses grow in size, they often need talent management functions that are more complex, in-depth, and varied than smaller organizations. In addition to exploring the specific features offered, look at the size of each products’ users to get a preliminary gauge of how well the product would be able to scale to fit your needs.

Start a Talent Management comparison

Pricing Information

Talent management systems’ 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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Infor CloudSuite HCM's cloud-based human capital management software solutions replaces complex processes, workflows, and systems with sophisticated, yet intuitive technology, allowing HR professionals to deliver streamlined workforce processes. The suite evolves from Infor's acquisition Lawson Sof…

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Create LMS is an online Learning Management System for organisations of all sizes. It is available in 20+ languages and offered as an SaaS LMS platform or on premise (self hosting).

TrustRadius Top Rated for 2020

2020 Top Rated Talent Management Software

There are plenty of options out there, but here's our shortlist of the best Talent Management Software. These products won a Top Rated award for having excellent customer satisfaction ratings. The list is based purely on reviews; there is no paid placement, and analyst opinions do not influence the rankings. To qualify, a product must have 10 or more recent reviews and a trScore of 7.5 or higher, indicating above-average satisfaction for business technology. The products with the highest trScores appear first on the list. Read more about the Top Rated criteria.

Frequently Asked Questions


Why use talent management?

Talent management software is used to streamline and optimize the acquisition, compensation, and development of your business’s talent pool. It entails HR processes revolving around your talent (personnel) from recruitment to offboarding.

What are the core functions of talent management?

There are 6 core areas in talent management. Modern talent management suites should support most or all of these functions:

  • Recruiting
  • Onboarding
  • Performance management, including goal management
  • Compensation management
  • Learning management
  • Succession planning

How is talent management different from performance management?

Performance management is a subset of talent management focusing on employee goal setting and achievement, as well as company benchmarks and expectations for productivity. Talent management includes a broader set of features, including performance management, that supports employees throughout their lifecycle at a company.

How much does talent management software cost?

Talent management software cost differs based on whether it is part of a larger HR suite/HCM product or if it is a standalone offering. Standalone talent management software can range from $10-$20/user/month.

Why does talent management matter?

Talent management is crucial to sourcing and getting the most value possible out of your existing talent pool, including supporting skills development and retraining. It is also playing a growing role in retention and addressing employee engagement.