Over the last few years, the software industry has experienced a vast amount of advancements due to new and evolving technology innovations, becoming the backbone of a wide range of industries. As it continues to change the way processes and operations are undertaken and managed, end-users are resorting to software for a wide range of operating and management solutions.
These changes in the software environment has transformed a large number of industries, making automation and computer control an industry norm. Less time to deliver, consistent results, and increased reliability in how various processes operate are a few of the significant elements.
With applications that spread across the segment of automation, robotics, and Internet of Things (IoT), the software industry is expanding at an encouraging pace, and is anticipated to continue its success in the coming few years as well, thereby positively impacting the prospects of growth of numerous niche markets that it caters to.
What Does This Mean for Talent Management
Talent management software, refers to a suite that is integrated in nature and addresses the “four pillars” of talent management: recruitment, compensation management, learning and development, and performance management. This modern day technology is utilized by many HR management professionals to manage employees and gain a competitive advantage.
Overall, talent management software automates specific processes from the time a potential candidate fills out an application to the time he/she is hired, continuing to track the employee lifecycle until retirement. Today, talent management systems come with applications that fall under a wide variety of broad functional areas (like the pillars).
However, as cloud computing has gained extreme momentum over the last couple of years, so has cloud-based talent management systems. Today, a good number of vendors are being referred to as the fifth pillar of talent management because they offer any one of these broad functional applications, and even more in-depth and niche applications. Now, the names and number of pillars vary depending on the talent management vendor.
In addition, many elements like the augmented usage of mobile apps for the purpose of talent management are foreseen to promote the growth of the talent management industry. The increasingly use of various mobile devices, like tablets and smartphones, in many of the talent management and HR processes is further encouraging market vendors to launch mobile-friendly websites and/or mobile apps built specifically for HR.
Potential candidates can now apply to jobs via mobile devices, and in turn, recruiters are being forced to make sure of mobile devices for the purpose of checking application statuses, posting job notifications and so on.
Looking for more? Download our talent management buyers guide and check out the top-24 products available in the market with full page vendor profiles, key capabilities and questions to ask yourself and the vendor before purchasing a talent management solution. For those just starting the talent management software search process, this is truly the best resource to help get you going.