What is Talent Management Software?
Talent management software assists in recruiting potential talent for a job position. When working in talent management, it’s better to use software that can make the workforce recruiting process a lot easier.
List of Leading Talent Management Software
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Cornerstone OnDemand
- Price: Varies, but Free trial offered
- Features: Compensation and competency management, Recruitment management, employee performance, succession planning, employee lifecycle management
- Available: For iPhone and Android
- Cons: Frequent data errors, slow customer support and random reports of inaccurate data
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Oracle HCM Cloud
- Price: $9.00 per employee/month, Free trial offered
- Features: HR and Employee lifecycle, financial, customer experience, employee self-service, and content/project management
- Cons: Poor UX, support, and help
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BambooHR
- Price: $6.19/month for employees (Essentials package), $8.25/ month for employee (Advantage package), Free trial offered
- Features: Cloud-based applicant tracking, performance management, available for mobile apps, onboarding tools, e-signatures, time-off tracking
- Available: For Android, iPhone, and Windows
- Cons: Not the best for larger organizations
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Ascentis
- Price: Can be negotiated, Free demo offered
- Features: Compensation, competency, recruitment, training, performance and employee lifecycle management, goal setting, succession planning
- Available: For Android and iPhone
- Cons: Not available on Windows, timecard and payroll features not integrated directly, poor customer support
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Paycom
- Price: $9.00/month, Free trial offered
- Features: cloud based and streamlines review process between employees, managers and HR, automatic updates to payroll, analytics, headcount, turnover and overtime
- Cons: Not available for Android, iPhone, and Windows
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ADP Workforce Now TalentSoft
- Price: $300.00 – $750.00/ month
- Features: user friendly training tutorials, centralized web based application used anywhere, employee self-service management, easy payroll and tax management, wide variety of standard reports
- Cons: Poor customer service, lack of helpful payroll management
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UltiPro
- Price: $600.00/year
- Features: Access to profile information whenever and wherever, ability to keep track of all skills, education and awards, saves location while working with app
- Available: For Android, iPhone
- Cons: Vague interface, not available for Windows
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Ceridian DayForce HCM
- Price: $11.50 per employee/month
- Features: HR, payroll, benefits and talent and workforce management, scalable framework and real time data such as continual pay calculation and enabling decision-making.
- Cons: Costly when changes need to be made, lack of support and implementation model
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Workday HCM
- Price: $100.00 – $200.00/ employee within a three year contract
- Features: Time tracking, HR, Payroll and Talent Management, Workforce planning, Learning, Benefits, audits and internal controls, big data analytics, compensation
- Cons: Expensive, not a good software for small businesses
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SAP SuccessFactors
- Price: $8.00/month, $85.00/employee for Annual subscription
- Features: Goal documentation, Performance and learning management, goal setting priorities, payroll modules
- Cons: Vague navigation with SuccessFactors feature and could only perform basic necessities
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Talent Soft
- Price: Free demo offered
- Features: Performance, talent acquisition, payroll, HR management, employee reviews
- Cons: Lack of easy ways to customize reports, only suited for companies where a segment of the employees don’t have a company email address or access to a company computer
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iCIMS Talent Acquisition
- Price: Free trial offered
- Features: Job postings, resume searches, assessments, background screening, great use for larger organizations
- Cons: not available for Android, iPhone and Windows, lack of access to certain functions, keeps closed jobs on profile, lack of notifications with use of alerts
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Zoho Recruit
- Price: $12.00/year, Free trial offered
- Features: Advanced search, applicant tracking system with CRM, Candidate Status, Careers page, Job opening creation, Zoho Recruit emails, integrations with Google Chrome, advanced reports and analytics, AI powered candidate matching with semantic search
- Cons: Poor customer service, outdated features, poor integration with Microsoft Office and Outlook
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Saba TMS
- Price: $300.00 – $750.00/month
- Features: Links to learning, performance, succession and talent management, succession planning, goal setting, recruitment management
- Cons: Expensive, poor function of features and overall functionality
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Paylocity
- Price: $2.00 per employee/month
- Features: integrations for payroll, activity dashboard, employee, labor and payroll management, employee self-service, financial analysis, document templates, pre-registration, employee portal
- Cons: no free trial, difficulty with reports, abysmal customer service
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IBM Talent Management
- Price: Free trial offered, $5,000.00/month
- Features: onboarding, training, real-time test feedback and reporting
- Cons: Expensive, lack of updates
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PeopleFluent Mirror Suite for Talent Management
- Price: Price quote offered for free, Free trial also offered
- Features: customizable interface, excellent performance management, time tracking, and employee management, applicant tracking system, vendor management system
- Cons: Difficult UX, lack of updated features
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HealthStream
- Price: Free trial offered, Prices can be negotiated
- Features: online learning, progress tracker, employee, HR and payroll management
- Cons: Difficult functions with learning feature
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SilkRoad Onboarding
- Price: $300.00 – $750.00/month
- Features: HR onboarding system, employee engagement, administration, self-service portal, payroll, employment forms, available for iPhone, Android
- Cons: Not available for Windows, unable to write customer reports
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Meta4 PeopleNet
- Price: Prices can be negotiated
- Features: Payroll, Talent and HR Management, employee lifecycle plans, performance management, integrated modules
- Cons: No mobile application, heavy interface customization, lack of flexibility with solution integration within modules of existing processes and systems
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TribeHR
- Price: $5.00 per employee/month, Free trial offered
- Features: Goal tracking, vacation calendar, skills tracking, employee notes, job postings, shared resources, anonymous micro-feedback, applicant tracking
- Cons: poor customer support, lack of features and poor functionality of features
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Engagedly
- Price: $2.00 – $6.00 per user/month
- Features: Assessments, Ongoing check-ins and Project reviews, measurements of employee engagement, 360 Multirater feedback, system for performance management, goal setting software, employee surveys, advanced analytics, and reports
- Cons: Long time for updates, lacks support for voluntary team participation, difficult UX
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Monster TMS
- Price: Free trial offered, $249.00/month (Starter plan), $449.00 (Standard plan)
- Features: Assessments, Job postings, Resume parsing, candidate tracking, workflow management, internal HR
- Cons: Not available for iPhone, Android, and Windows
Why You Need a Talent Management Software?
To break all of this down for you, the use of talent management software will allow you as an employer to seek the right fit for a certain position. Here are a few helpful qualities to have for effective talent management software.
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Process based software
Visibility , transparency and being open for customization without the expense of a consultant’s intervention are the top priorities to have when enabling process based software for talent management. Doing so will allow your company to create radical decisions in required business operations.
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Team-Based Design
One of the most modern talent management systems include a team-based design. What this means is that working in teams has become an innovative way of working, and it’s great to use this with talent management software. This will allow the opportunity to oversee employee performance within different teams.
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Social Media Integration
Integrating with social media platforms is essential for talent management software because it will allow you to open up an opportunity to engage with employees.
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Channel Independence
Having channel independence, or using a preferred device, will allow more freedom between the talent management system and a potential employee, recruit and HR professional.
Hence, it’s important to have the ability to have a smartphone or desktop around in order to engage within the talent management system(1) between the two parties.
Final Thoughts
As a company, the importance of using modern ways of communication will create an effective way for using talent management.
With the additional effects of talent management software, it’s great to rely on such software such as Cornerstone or Oracle. If you’re not using any talent management software by now, then it’s best to not miss out on this opportunity.
Lastly, have a good relationship between you as a recruiter or as a potential employee. You want to keep tabs with one another during this process. Using different types of channels or social media platforms for communicating is just one step closer to the future of modern technology and talent management.
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Aileen Padua is an aspiring social media coordinator. She is currently majoring in Advertising at Fresno State University. With her understanding about the power of social media, Aileen is passionate about preserving and enhancing the image of one’s reputation in the public eye.
