The Business Need for Talent Management

Transcription

1 The Business Need for Talent Management HR Technology Solutions, Inc. One Richmond Square, Ste. 222W Providence, Rhode Island Toll Free

2 Importance of Managing Talent Talent is a key differentiator between your organization and your competitors Talent creates products and services, serves customers, and conducts the daily activities of your business A Talent Management system provides the focus and the tools to make the best business decisions possible concerning selecting, assessing, developing, rewarding, motivating, and utilizing your most important asset - people

3 High-performing companies use Talent Management as an essential tool to achieve excellence Companies with higher percentages of engaged employees outperform their industry peers Gallup research reveals that top performing companies, on average, have a ratio of engaged to disengaged employees of 8:1, while in poor performing companies the ratio is 2:1

4 Talent management is a business process designed to gather multiple human capital data and to transform it into actionable intelligence for - Identifying and developing employees - Increasing the retention of top talent - Reducing risk of vacancies in the talent pipeline - Ensuring employees have the job competencies required for success

5 Talent Needs To Be Managed Like Other Business Functions Business Management Practices Talent Management Practices Continuously review finances and future budget resources Identify and develop new products, services and markets Continuously communicate with partners, stockholders, investors, and customers Define, measure and compare employees competencies to job requirements Set goals and measure employee performance Plan for succession, employee development, and filling open positions from internal talent pools Continuously communicate with employees about their career aspirations and next job assignments

6 Benefits of Talent Management Increase employee engagement and commitment Increase workforce productivity and profitability Increase retention of key employees and reduce turnover cost Develop next generation leaders Reduce risks of vacancies in the talent pipeline Automate HR processes to reduce administrative time and cost Link employee pay with performance

7 Online Technology Enables Information Sharing and Communication Across Different Talent Management Processes and Among Multiple Parties Executive Leadership HR Manager Supervisor / Coach Employee

8 Job Description Candidate Selection 360 Feedback Performance Management Compensation Succession Planning 200+ Benchmark Job Description Essential Job Responsibilities General Competencies Function-Specific Competencies Leadership Scope and Activities Tools & Equipment ADA Compliance Criteria Professional Credentials Contacts (Internal/External) FLSA Exemption Testing / Reports Manage Job Requisitions Manage Candidate Information Competency-Based Interview Questions Multi-Interviewer Competency Ratings Candidate Job Readiness Profile Comparative Candidate Rankings Interviewer Comments Built-in Feedback Form Templates Performance Questions Competency Ratings Feedback Comments Link to Review Periods Link to Client Projects Individual Feedback Reports Feedback Provider On-Time Report Essential Job Tasks Performance Goals Developmental Goals General Competencies Functional Competency Performance Summaries Overall Rating Workforce Analytics FULLY INTEGRAGTED MODULES Internal Job Evaluation External Salary Data Analyzer Salary Grade Structure Geographic Range Differentials Merit Guidelines Budget Planning Merit Increase Recommendations Pay Equity Analyzer Career Tracks & Job Ladders Education & Work Experience Competency Levels Performance History 360 Feedback Ratings Job Readiness Timeframe Language Fluency Relocation Willingness Employee Path Career Planning

9 Employee Competency Assessment

10 Workforce Competency Analytics

11 Employee Readiness to Move Up in Job Track

12 HRToolbench is a full cycle talent management software system that increases workforce engagement and productivity, develops internal talent, saves administrative time and cost, and increases company performance HR Technology Solutions HR consulting services complement HRToolbench technology to provide client organizations a complete Talent Management Solution

13 To learn more Contact: HR Technology Solutions Toll Free Or Visit: