When searching for a talent management system, companies want an efficient and easy to use product that will fit their company’s processes the best. In order for talent management to function at its best though, companies need to look at integrated functions. Instead of having several different modules through different software providers, it is more efficient and easy to use if it is one integrated system.
There are several benefits to investing in an integrated system and, according to Bersin & Associates by Deloitte; companies using an integrated system have far more advantages than their siloed competitors.
The reason being is that an integrated system eliminates siloes that cause miscommunication, double entries, inconsistent information, poor productivity, and a decrease in employee engagement. Systems that are disconnected waste time and effort by employees. Why not put more time and effort into the productivity of the end goal of the company and less time into a software nightmare?
What if a manager needs to fill a position immediately? The best way to do that is using an integrated system with succession management. Right away hiring managers know the strengths of current employees and have knowledge of candidates that are qualified and ready to take on the responsibilities of the open position. With an integrated system, managers throughout the company won’t overlook the talent the company already possesses in order to fill those important positions.
Other reasons an integrated system is better includes:
- Shared data: all modules share information with each other. Talent Acquisition, Learning, Performance, Competency, Compensation, Succession, and Workforce management are all combined into one single software management tool.
- Competencies are one common language throughout all modules. There’s no confusion and less communication failures because there’s no variance between modules.
Bersin & Associates Talent Management Factbook says that companies with integrated talent management systems are at a far greater advantage than others:
- 26% higher revenue
- 40% lower turnover with high performers
- 17% lower voluntary turnover
- 87% greater chance of ‘hiring the best’
- 156% greater chance to develop great leaders
- 92% greater ability to adapt to changing economic conditions
- 144% to plan for future workforce needs
With those numbers, it’s crazy to think some companies don’t have an integrated system! Integrated systems are far better and produce greater results than other siloed softwares. Integrated programs have the capability to identify workforce gaps and potential risks, as well as high performance patterns. Why not save yourself and your company time and frustration and implement an integrated system to start increasing productivity to achieve those end goals in a more efficient amount of time?
For more information on integrated talent management software, check out TEDS, Inc., at www.teds.com.
Check out other related blogs:
- Integrated Talent Management - Part 1 of 3
- Integrated Talent Management - Part 2 of 3
- Integrated Talent Management - Part 3 of 3