Talent Management Systems: Benefits, Tools, and Applications

This report provides an overview of talent management systems, defining talent management as the process of recruiting, hiring, retaining, and developing talented employees. It discusses the efforts and tools used in talent management, such as workforce planning, performance management, and training and development, highlighting the use of talent management software like Success Factors BizX and Oracle Talent Cloud. The report also outlines the usefulness of talent management efforts, including attracting talent, optimizing performance, increasing retention, aiding in training and development, and facilitating succession planning. References to relevant academic sources are included to support the discussion.

HUMAN RESOURCE
MANAGEMENT
Talent Management Systems

INTRODUCTION
What is Talent Management?
Talent management is a concept that is aimed at recruiting, hiring, retaining and
developing the most talented employees that are available in the industry. Under
talent management, organizations implement strategies that can enable them to have
a better and more talented pool of human resources. Some people have also defined
talent management as a concept that is used by business organizations to forecast
the human resource requirement of their subsidiaries and creating plans to fulfil the
demand identified.

TALENT MANAGEMENT EFFORTS AND
TOOLS
Talent management is a complicated process that covers a number of core and non core-functions of
human resource management process. Of late, multinational organizations have started using talent
management systems and software applications that can be helpful in managing the employees of a
company by maintaining data related to an employee right from his date of application to the day on
which he or she leaves a company (Collings, Scullion, & Caligiuri, 2018). Certain efforts that are a
part of talent management and are being performed by business organisation by using software
applications are discussed below:
1) Workforce planning
2) Performance Management
3) Training and Development
4) Succession Planning

COMPANIES USING TALENT MANAGEMENT
SYSTEMS
Talent management software are becoming increasingly famous for their
ability to offer an oversight of an organization's workforce. Following are
some of the famous talent management software used by business
organizations all over the world, along with a list of the customers that
use them:
1) Success Factors BizX
2) Oracle Talent Cloud

USEFULNESS OF TALENT MANAGEMENT
EFFORTS
Talent management efforts can offer a number of benefits to an organisation, which
can ultimately lead them to achieve market competencies. Some of the benefits of
talent management efforts are discussed below:
• Helps in attracting and recruiting a talented pool of employees
• Helps in optimizing the performance levels of a company’s human resources
• Helps in dealing with labor turnover rates by increasing retention rates
• Helps in training and development of a company’s workforce (Whelan & Carcary,
2011).
• Helps in succession planning and ensuring that the human resource demands of a
company are met within the shortest possible time and in the best possible manner.

REFERENCES
Collings, D. G., & Mellahi, K. (2009). Strategic talent management: A review and research agenda. Human resource management
review, 19(4), 304-313. Retrieved from Human resource management review.
Collings, D. G., Scullion, H., & Caligiuri, P. M. (2018). Global talent management. Routledge.
HEATHFIELD, S. M. (2018, December 2017). The Best Talent Management Practices. Retrieved April 2019, from
www.thebalancecareers.com: https://www.thebalancecareers.com/best-talent-management-practices-1917671
SAP SuccessFactors. (n.d.). SuccessFactors BizX Suite. Retrieved April 2019, from www.successfactors.com:
https://www.successfactors.com/en_gb/download.html?a=/content/dam/successfactors/en_gb/resources/brochures-product/
bizx-suite.pdf
Oracle Cloud. (n.d.). Talent Management Cloud Customer Success. Retrieved April 2019, from cloud.oracle.com:
https://cloud.oracle.com/en_US/opc/talent-management-cloud/customers
Whelan, E., & Carcary, M. (2011). Integrating talent and knowledge management: where are the benefits? Journal of knowledge
management, 15(4), 675-687.