Did you know that with an integrated Talent Management system, companies are 156% more likely to train better leaders than companies without an integrated system? In the past, the trend has been to purchase an individual software platform that was the best for learning, talent acquisition, performance, and competency management, which leaves companies’ talent management systems disjointed and cumbersome, creating siloes within an organization.
A silo, as defined by the Business Dictionary, is a mindset present when certain departments or sectors do not wish to share information with others in the same company. This type of mentality will reduce efficiency in the overall operation, reduce morale, and may contribute to the demise of a productive company culture.
Business siloes lead to wasted time and money, engagement levels suffer and so does performance. Among other things, they also result in a loss of communication among employees, departments, managers, and executives. None of these are good for business. Companies need to rid their workplaces of siloes and build collaborative, not cooperative, relationships with other departments and employees.
Here’s why you should skip out on having multiple, separate talent management modules and switch to a company that provides an integrated management system instead:
- Integrated systems lead to more efficient business processes. Corporate goals are aligned, making it easier for employees, departments, and managers to communicate with one another and know they are on the right track. When people are working in sync with one another, the company will reap the benefits.
- Human capital is tied to the workforce plan. The purpose of integrated talent management is to ensure that your most important assets, your people, are tied to corporate goals. Once your people know and realize the goals of the company, they can do their jobs much better. Without this connection, their efforts are seemingly pointless. “When employees’ goals are aligned to business objectives, everyone has a stake in the ultimate success of the company.”
- Data sharing and the language throughout an integrated system are consistent and efficient. Integrated systems use the same competencies throughout, instead of having multiple departments using different language to say the same thing. Information is shared with all departments, employees, and managers. Succession plans are shared with talent acquisition, and performance reviews are aligned with learning and competencies. This is a major reason integrated systems are more efficient. If everyone is sharing information and speaking the same language, there will be fewer barriers to overcome in order to achieve success.
- An integrated system is lower in cost and reduces administrative tasks. Lowering cost is important to any company for one simple reason: it saves them money. And with the integrated system, it also saves them time from learning several different systems and saves them from entering the same data in several different portals. This makes administrative tasks simpler and much easier to navigate.
If you are aware of siloes in your company, it’s time to take action! Instead of having a reactive approach to the future, be proactive and switch to an integrated solution.
According to Bersin, companies that made the choice to have an integrated talent management system were 92% more likely to adapt to changing economic conditions and be better prepared for future workforce needs. Companies that switched to one system also had a 40% lower turnover rate and more engaged employees. The results are clear. Integration and ease of use are in; disconnection and difficult processes are out!