Achieving Competitive Advantage through Talent Management
Organizations work towards the achievement of their mission and strategic objectives. This requires a thorough understanding of the resources required for achieving the same. Resources here imply financial and non financial both and they are equally important and interdependent. Technically these resources have been divided into two, non contingent and differentiating capabilities. Whereas non contingent […]
The Normal Distribution Creates an Abnormal Work Culture
Forced bell curve systems are a statistician’s way of looking at the organization. Much like everything else that statisticians do, the forced bell curve is also a mere hypothesis. However, this hypothesis has been largely romanticized and adopted by many companies. In fact about a decade ago, forced bell curve was the norm and companies […]
How Human Resource Managers can deal with Difficult Employees
Introduction One of the key challenges that HR (Human Resource) Managers face in any organization is how they respond to employees violating organizational policies and plain disgruntled employees who are angry with their appraisals and consequent pay hikes and bonuses. Indeed, how astutely and adroitly the HR Managers deal with such employees determines their competency […]
Scope of Participative Management
The scope of participative style of management certainly depends on the organization, its nature, functions and processes. Though associating employees at every stage of decision-making is not possible still regular exchange of information, ideas, consultations, thoughts, decisions and negotiations between employer and the employees definitely is a boon to the organization. Few of the world’s […]
Rewards Management: The Basis of Performance Management
A Holistic Approach to Performance Management This article proceeds under the premise that performance by employees on the job needs to be assessed on a holistic basis. For all of you who are aspiring to make a name for themselves in the corporate world, you need to remember that corporates judge you based on on […]
Management systems are of strategic importance to organizations. HRMS and ERP systems are used these days in the administration of basic human resource data such as payroll, compensation, time management etc. Talent management systems are similarly used to offer strategic gains to an organization in the achievement of long term goals vis-a-vis the human capital.
Talent management systems also referred to as applicant tracking system (ATS) can either be a standalone application or embedded as part of the ERP and other HRMS system. Whereas as applicant tracking system or ATS is software typically meant to handle the recruitment needs, a talent management system or TMS may be a suite of various coherent or disparate modules that covers diverse areas rather than just one. Both are an important feature of a large number of organizations these days.
Applicant tracking system is a regular feature of all HRMS software of many large and small organizations globally. The software allows for tracking recruitment needs. This may include the database of CV’s received, shortlisted, reasons for rejection, list of interviewees, and finally those selected. ATS thus acts as a central location and database for an organization’s recruitment needs. They are developed and designed to assist organizations in better resume management. Major recruitment portals like Naukri.com, monster.com etc have tie ups with ATS software providers for support and data migration.
The software exists as a standalone module in small organizations where it takes care of their recruitment needs or it may be integrated into other HRMS in large corporations. The software is currently entering into small and medium enterprises by software as a service offerings (SaaS) also called as open source.
In organizations talent management system solutions typically take care of the following:
The role is thus wide and farfetched compared to the Applicant tracking system (ATS). Both are however used interchangeably. Nowadays however its talent acquisition and performance management that seems to have gained more weight in the talent management market. The focus is now more on developing integrated talent management systems.
The problem with talent management system may be that of integrating talent management systems with other HRMS applications or software. Many vendors have so far promised varying degrees of integration of with other enterprise management software, the credibility of which still remains questionable. Many vendors also nowadays offer certifications for their claims.
Like ATS, talent management systems also became popular through the channel of software as a service (SaaS), earlier however these were typically delivered through the standard applicant service provider (ASP) delivery model.
As Steven Hankin of Mckinsey and co. described it aptly as a war for talent, lots of vendors are entering the domain of talent management to assist and integrate the same with their strategic human resource applications. Though SaaS model is affordable and less costly other channels are equally lucrative and offer more competitive avenues.
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