The not only to store employee records and

  The human capital is truly valuablepart of every business institution, therefore, it is essential and critical fora business to be adaptable to the growing need to invest in the propermanagement, development and preservation of its people.

  In line with this, a lot of companiesnowadays, are using human resource information system as a simple database tostore employee records and basic information. But HRIS, was not able to fully meet the successful management of humanresources.   And thanks to the rapid advancement ofinformation and technology system, talent management systems have been createdto help companies not only to store employee records and basic information butalso cater various and complex HR functions in a simplified, effective andefficient way.  As mentioned in the article, talent managementsystems are generally considered to be comprised of four modules, also called”pillars” namely recruitment, corporate learning, performance management, andcompensation management. And these four modules are being offered by vendors inone entire suite, however most companies rarely buy it because it is tooexpensive.   So what they normally do is they purchase onemodule at a time not only to manage their cash outflow but to assess thecapability of the system.

  And onceproven that the purchased module is able to meet the companies’ requirementsand expectations, they may opt to purchase another module until such time thatthe whole talent management system is fully implemented inside theorganization. For the first pillar which isrecruitment, it is the basic foundation of HR function with the objective tomeet both the needs of the company and the needs of internal and externalapplicants.  In order to help them findthe right candidate for the job, HR department uses traditional way by relyingon job search engines such as Jobstreet and LinkedIn and also through headhunters.

  HR department must ensure thatthere is a right person for the vacant position.  Because of this essential function, HRdepartment must have a reliable tool or system to carry out their taskseffectively and efficiently.  In linewith this, the recruitment management software system will enable HR departmentto perform and facilitate their tasks in an advance and effective manner.  This is because the system is designed toautomate and simplify the processes from job opening to hiring new personnelthrough discovering, assessing, and selecting right fit candidate.  For the second pillar which is corporatelearning, HR department’s function does not end with recruitment process.  They must ensure that the hired personnelwill have a continuing development of talents and skills. It is theirresponsibility to identify the need of each personnel inside the organization.

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 A certain training / seminar is not applicableto all because each personnel has different level, position and jobdescription.  In addition, corporatelearning nowadays are open to new ways to develop employees, trainings/learningsare not confined to the four corners of the office.   Usually, they identify the appropriatetraining / seminar for each individual or group.  Therefore it is essential that they maintaina database of all personnel’s learning path and career achievements.  In line with this, learning management systemwill help HR department to keep track of the career development of eachstaff.  It will also assist departmenthead (e.g.

Finance Department) to plan their workforce to temporarily replacesomeone that is enrolled in a certain training / seminar.  I think that learning management system isalso useful if there’s a need for internal promotion.  It will enable them to easily assesspotential personnel by checking the training and seminars that they’veattended.  The efficiency of the system willhelp them compare competitive personnel within hours instead of going throughthe traditional way of using manual tracker and various documents which willtake them days or even months to accomplish.

Corporate learning is essential todevelop and push each employee’s fullest ability and capacity.Following corporate learning, isperformance management.  Most companiesare still using the common way of assessing the performance of employees, whichis the annual performance review.

  Thiskind of assessment allows the manager and the employee to sit down and have aone-on-one discussion on the result of previous year’s performance based onpre-defined criteria where they need to agree on the identifiedaccomplishments, strengths and areas for improvement.  It also includes setting up of new goals andidentifying tools that will help the employee achieve such goals.  However, there is an increasing rate on thenumber of companies that perform frequent reviews, I think the reason for thisis to identify if an employee requires coaching on areas where he/she needsimprovement. Performance management is a great way to acknowledge employees whodid well and showed dedication, commitment and excellence, but it also help theheads of various departments to be more open and encourage those employees thatneeds improvement.  It will enable themto come up with fresh and innovate ideas that will motivate and bring the bestof their people. The last pillar is called compensation management.  When handling various computations related tocompensation, most companies are using Microsoft Excel instead of dedicatedsoftware.

  However, when there’s a wideinformation that must be analysed, there are available compensation managementmodules being offered in the market to automate the task.  It will enable users to perform tasks,retrieve data and execute computations as directed. Excellent compensationmanagement helps organizations in attracting employees, fire up betterperformance, promotes motivation and ensure retention of top talent.  A top talent will have a hard time leavingthe company if he/she receives what she deserves or even more.  She will likely stay if the compensation iscommensurate to his/her skills and experience and if he/she is being rewardedfor valuable contributions for the growth and success of the company.On the other hand, there is a talent management suite thatinclude all four pillars mentioned above.

 Though it may be appealing for companies who have capacity and resourcesto purchase this suite, they still need to test, evaluate and raise all therelevant questions in order to come up with a wise and sound decision whetherto purchase a talent management suite or one pillar at a time.