For the past few months, we’ve talked in this column about the fierce battle companies are waging to find and retain top talent, and the creative ways they are using software to accomplish these goals. We’ve also discussed the rise of Software as a Service and cost, ease-of-use and deployment/upgrade benefits that accompany this new model of software delivery. At the intersection of these trends is talent management software, which has become one of the hottest and fastest-growing categories in the software industry.
Nevertheless, until recently, talent management has not been used as the strategic weapon it can and should be for organizations. That’s all about to change. Advances in talent management software, including the unification of key functions, cutting-edge analytics and dashboards, a dynamic user interface, and tools that support global deployment, are key tenets of what many in the industry now are referring to as Talent Management 2.0.
Talent Management 2.0 is the next generation of talent management software. Its form is a unified software suite that provides global businesses with detailed views into their most critical employee data. This is a considerable step forward in the HR market. Rather than purchasing point solutions that are disconnected from one another, businesses have a single system of HR dashboards driven by a business intelligence engine that integrates employee compensation, performance, development, recruiting, and competencies data. Talent Management 2.0 software is truly global in nature, which is critical as companies diversify their operations globally.
Talent Management 2.0 is primed to disrupt the software market for three reasons. First, the sizable labor shortage predicted by the Department of Labor at the end of the decade. Second, the critical need companies have to focus more carefully and strategically on compliance. And, third, the success of the Software as a Service model.
Check back here on Wednesday, October 10 for details about the industry’s very first Talent Management 2.0 offering. The future is now!
