As the economy takes tentative steps towards recovery, companies are beginning to look at the big picture again and reassess their hiring strategy…or non-hiring strategy as the case may be. Business is reaching the limit as to the level of productivity that they can squeeze from their employees. If companies push employees too far, productivity gains may be lost to stress, illness, and the loss of experienced workers. Talented employees are key to future growth and profitability.
The problem many employers face is recruiting talented employees among the multitude of applicants for a given position. High unemployment is making it difficult for hiring managers and recruiters to identify high-performance workers that can add value to the organization’s bottom line. Newly developed Talent Management Software interfaces with existing technology to remove much of the guesswork when generating a shortlist of candidates.
What Talent Management Software Has to Offer
The functionality of talent management software is to increase efficiencies within the recruiting, onboarding, succession planning, and employee performance management processes. For the recruiting process, it interfaces with social media sites, job boards, and recruitment websites in order to identify potential candidates. The software then seeks to match the parameters of the position to the qualifications of job seekers.
It can run thousands, even millions, of resumes through the application and create a shortlist that makes the vetting process much more streamlined.
How Business can Benefit from Talent Management Software
It costs money to recruit quality employees. Not just the direct costs associated with the hiring process but the opportunity cost due to the time lost to HR and hiring managers. To be successful in the current marketplace, all processes need to be streamlined and efficient. The recruitment and talent development processes should not be excluded.
Talent management software reduces the time spent combing through mountains of resumes trying to match candidates to the position. It also reduces the chance that a quality employee will slip through your fingers due to human error. In addition, it can broadcast job openings through social media and job boards reaching a wider audience than traditional recruitment methods. This results in a greater number of applicants, however, the software algorithm will eliminate all but the best candidates.
It just doesn’t pay to put a warm body in a position…if it ever did. It is critical in today’s business environment to recruit and hire the most talented candidate. To do that, employers must expand their search while automating the vetting process. Talent management software helps accomplish those goals.
