Informational Training Methods
Informational training methods are basically used to teach facts and figures and for developing a change in attitude. There is a one way communication between the trainer and the trainee that involves the transfer of information without many deliberations. New policies, programs, code of conduct are transferred using informational training methods. Lectures, audio visuals, self […]
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 […]
The Challenges of Managing Attrition in Contemporary Organizations
The Reasons for Attrition In recent months, there has been a spate of news items about how attrition is taking its toll on many organizations in Asia and especially in the IT sector in India. Whereas in the west, because of the recession and the gloomy economic conditions, attrition is no longer an issue and […]
The Return on Knowledge
Knowledge management has been a buzzword amongst modern day companies for a few years now. However, many companies are still skeptical about investing significant sums of money in a knowledge management system. This is because the return on knowledge management can be difficult to measure. When companies undertake other cost-cutting or business improvement activities, the […]
The Dilemma Facing Students and Professionals: Generalization or Specialization ?
The Dilemma between Specialization and Specialization If you are a student who is planning an MBA (Master of Business Administration) or a Technical Degree, you would no doubt be faced with the choice between going in for a generalized degree or a specialized one. The former gives you a broad overview of your preferred discipline […]
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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