Talent management is more important now than ever before, due to corporate globalization and a growing workforce, especially for big businesses and enterprises. One of their greatest challenges today is obtaining reliable and consolidated data that they can use to efficiently manage their workforce and business strategies.
By integrating Core HR into your talent management system, organizations end up with centralized data on one model, thus simplifying talent management.
Bastien Marchand, content marketer for Talentsoft, a leading developer of cloud-based talent management and HR solutions, says that 68 percent of HR departments plan to implement an HR data standardization process within the next 18 months. The administrative aspect of talent management can be a bit complex sometimes, between recruiting, departures, promotions, transfers, managing contracts, etc.
With this in mind, Marchand gives his expert advice and insights as to why businesses should integrate Core HR functions into their talent management systems:
Grouping Core HR, administrative management, and analysis indicators and connectors together to open up to third-party systems (like payroll management), provides companies with an overall view of their data and information, which is critical when managing multiple subsidiaries or international offices.
The evolution of a data model gives meaningful insight on:
Data history: HR managers can track the actions carried out in Core HR for administrative data, as well as in libraries.
Data localization: Information is adapted and displayed accordingly.
Data contextualization: HR leaders can use contextualized data in their administrative management process thanks to a user-friendly and dynamic interface with a secure data flow.
Legal conformity: This is a key challenge, as regulations change from country to country. For example, companies in the U.S. keep self-reported data on their employees race for affirmative action purposes, or to justify their hiring practices. This practice is prohibited in Europe, and in Germany, managers must have access to their employees birth dates, but the birth year is irrelevant.
This is why using API’s (Application Program Interface) to integrate into the current HRIS (Human Resource Information System) ecosystem greatly improves and facilitates your administrative talent management.
Keep in mind however, that each company is different, and faces their own specific set of challenges. It’s important to be able to deploy a Core HR that is adapted to your company’s specific requirements. Marchand explains some of the different types of Core HR systems associated with talent management:
Primary system: Data is entered directly in Core HR, which will then be used to supply secondary systems, such as payroll management.
Replica system: Data is created in a third-party system, such as payroll, then retrieved, stored and updated in Core HR.
Hybrid system: The hybrid model allows for a progressive deployment, adapted to your company’s requirements, and promotes a rapid ROI (Return on Investment).
By implementing a flexible Core HR, you’ll be able to gain a comprehensive view of your organization and talents, plus optimize your administrative management system!