Talent management software

A talent management strategy is one where activities related to people management are linked. A well-designed talent management program brings a paradigm shift in the way organizations function, and employees contribute to the role, development, and future of both the employees and the business as a whole. For many people, talent management software amounts to an expensive, complex and confusing system that is ideal only for large-scale organizations. Contrary to belief, talent management software can do wonders for even a small organization. It automates tasks and helps to build credibility as a conscious organization.

What is talent management software?

A talent management system or software is an integrated software program or platform that offers organization support to integrate human resource activities like recruitment, induction, performance management, learning and development, compensation and benefits, and succession planning.

Talent Management is different from talent acquisition. Talent Management is essentially supporting and helping the employee throughout his talent lifecycle- basically supporting their skills and knowledge during their tenure with the organization. With a robust process for talent management, organizations can ensure that employees get the right training, feedback, and opportunity to enhance their skills and knowledge to perform in their roles. With software-talent management, conducting tasks can become easier as it will include notifications, reminders, and suggestions for every single employee for the human resources department to monitor and manage. 

Benefits of talent management software

Talent management software links the whole employee lifecycle and every other aspect associated with the employee. This makes it unarguably the most important toolkit for the human resource department. Talent management software can:

  • Monitor, manage, analyze and improve processes related to recruitment, induction, engagement, performance, and succession planning.
  • Offers a framework for the organization to recruit, employ, engage and retain the best talent and match job profiles to roles.
  • Helps to create an employee experience that is engaging, seamless, and interesting.

Good talent management software will take every stage of employee tenure, making the lifecycle an engaged and motivated exercise.

Features of talent management software

Some of the best Talent Management Software is made of tools that consolidate the various aspects of employee experience. A few of the tools that are incorporated are:

Applicant tracking system

These tools help to recruit and interview prospective candidates. It reduces paperwork by including job posts in collaboration with career sites. 

Onboarding

Another term for induction is Talent Management Software helps to engage new hires with a solid induction program and follow-up to help new employees settle into their roles and improve performance.

Employee engagement

Talent Management Software helps to gauge the engagement of employees by conducting surveys to weigh sentiments, tools to identify and celebrate milestones and achievements, and feedback channels for employees to know their areas of improvement.

Performance management

Talent Management Software provides effective performance management templates and also incorporates 360-degree performance management reviews to help each employee, irrespective of their role, gain insight into their abilities.

Top 10 talent management software

monday.com talent management software

Monday.com

Insperity talent management software

Insperity

TalentSoft

TalentSoft

iCIMS Talent Acquisition

iCIMS Talent Acquisition

ADP Workforce talent management

ADP Workforce

Oracle HCM Cloud talent management

Oracle HCM Cloud

Zoho Recruit talent management

Zoho Recruit

UltiPro talent management software

UltiPro

Saba Talent management software

Saba TMS

Cornerstone OnDemand

Cornerstone OnDemand

Monday.com

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Pricing

$30 per month for annual plan

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Free Version Availability

Yes

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Suitable For

Small and Mid-size businesses

This application provides functionalities to track talent pipeline and keep employees engaged. It offers visibility to day-to-day performance for employees and helps in the performance management process. From submitting leave requests to streamlining internal planning and coordination, the application offers a robust system to manage employee wellbeing.

 Key features:

  • It helps to manage and optimize the employee recruiting process
  • It helps to streamline internal planning and coordination with hiring managers
  • It helps to track candidate records
  • It manages the employee onboarding process
  • It automates and manages the performance appraisal process.

Insperity

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Pricing

$99 per month for annual plan

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Free Version Availability

Yes

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Suitable For

Mid-Size and Large Scale businesses

The application offers a comprehensive full-service HR platform to streamline and simplify various aspects of the organization and its talent management processes. From compensation management, and payroll to training and development, organizations can benefit from Insperity. The application offers personalized guidance and tools that assist one in recruiting the right talent for the firm.

Key features:

  • Shoulders burden of routine administrative tasks associated with employee benefits.
  • It assists with talent sourcing and recruitment activities
  • It helps with HR administrative duties and payroll management
  • The application offers features like employee liability management with respect to compensation coverage and insurance
  • It offers real-time support with aspects of HR compliance
  • It acts as a centralized platform to manage different aspects of HR

TalentSoft

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Pricing

$85 per month

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Free Version Availability

Mid-size and large-scale businesses

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Suitable For

No

Another talent management application that helps to meet the requirement of a talent manager. The application offers components like recruiting, compensation, training, workforce planning, and performance management. It is ideal for managing employees working onsite or abroad. It also helps to scale up and reduce operations based on the needs of the organization.

Key features:

  • It offers online talent management services to make the recruitment process easier.
  • It helps with cloud application, web development, and SaaS development
  • It offers a learning management system for employees to log in and upgrade their skills and knowledge by signing up for courses.
  • It streamlines compensation management and makes routine payroll tasks easier.
  • It also offers a succession planning

iCIMS Talent Acquisition

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Pricing

$25 basic version

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Free Version Availability

No

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Suitable For

Mid-size and large scale businesses

A very intuitive and flexible solution it comes with a range of features to manage the hiring process for employee engagement. It also offers collaboration with career sites and social media channels. It offers Mobile AI engagement, application tracking, employee onboarding solutions, and candidate relationship management.

Key features:

  • It offers interview schedules and background screening as part of the recruitment process
  • It helps with employee assessment
  • It offers solutions like posting jobs on sites, integration with channels in social media and other channels

ADP Workforce

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Pricing

$25 per month

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Free Version Availability

Small and mid-size companies

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Suitable For

No

A wonderful tool that makes use of AI to find out data according to location. This real-time information helps managers to make timely decisions. It also offers a custom career site and social networks with help to enhance the recruitment and onboarding process. With customizable workflows and built-in templates, managers can design compensation strategies and manage benefits.

Key features:

  • Payroll and tax management are the highlights of this system.
  • It offers HR management services like training and development and performance management
  • It helps to track the time and labor hours of every employee

Oracle HCM Cloud

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Pricing

$8 per month per employee with a minimum of 1000 employees.

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Free Version Availability

No

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Suitable For

Large-scale businesses

A flexible tool for employee management it helps to facilitate talent review and succession planning. With the software, organizations can manage performance appraisals, compensation and benefits, goal and target setting, and career development. It also boasts machine learning and artificial intelligence functionality.

Key features:

  • It offers digital assistants and virtual reality to help managers to simplify tasks
  • It helps with rewards and management programs
  • It also has an attendance management feature which helps to track employee absenteeism,
  • It offers employee self-service for employees to manage their work.

Zoho Recruit

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Pricing

$25 per month for standard package

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Free Version Availability

Yes

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Suitable For

Small and mid-size businesses

The software is a complete workflow solution for recruiters. It boasts features that help managers to organize, monitor, and streamline the recruitment and hiring process. It helps to compile data from interviews, resumes, and other trackers associated with application processes. The data is compiled for managers to view the gaps and fill them efficiently. The software can also integrate with applications like Outlook. Google Apps etc.

Key features:

  • It facilitates managing candidate database
  • It helps to match candidate profiles to job descriptions
  • It integrates job adverts to job sites and social media handles to increase visibility and garner interest

UltiPro

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Pricing

$25 per month

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Free Version Availability

No

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Suitable For

Small and mid-size businesses

A comprehensive talent management solution, the software comes with a predictive analytics feature to help talent managers identify top performers. This helps managers to chart the professional growth and careers of employees and devise a plan for their career enhancement to improve chances of retention and reduce attrition.

Key features:

  • It helps in managing the positions of employees and matching their job profiles.
  • It helps with routine administration tasks and frees up the time for strategic decisions
  • It also comes with performance management tools and helps with succession management

Saba TMS

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Pricing

$15 per month

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Free Version Availability

Yes

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Suitable For

Small and mid-size businesses

It is a comprehensive software package to help managers find talent and fill gaps. It features talent dashboards, candidate assessment, benchmarking of talent, knowledge performance index management, and career planning. The software also helps to budget compensation packages and automates workflows across different locations.

Key features:

  • It offers employee engagement insight by conducting surveys and research
  • It assists with the performance appraisal cycle.
  • It streamlines the recruitment process by automation tasks and managing the employee onboarding process
  • It also helps in deriving a strategic workflow modeling feature.

Cornerstone OnDemand

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Pricing

$6 per month

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Free Version Availability

No

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Suitable For

Suitable for all kinds of businesses

A flexible talent management software it comes with integrated cloud-based performance management systems. It also has different components for recruitment, human resource management, and employee development.

Key features:

  • It has a comprehensive recruiting module that manages the entire recruitment process from job posting, sifting of resumes, interviewing, job offer, and induction.
  • It also has a performance appraisal module that helps to tie up with learning and development so that employees get a chance to develop their skills and knowledge.
  • It also features a succession plan template that helps managers to chalk out a succession planning chart for employees to work towards and help with retention.
Product Pricing Free Trail Mobile App Ease of Use Ratings
Monday.com $30 per month Yes Yes 8.5/10 8.5/10
Insperity $99 per month Yes Yes 8/10 7/10
Talent Soft $85 per month Yes Yes 8/10 9/10
iCIMS Cloud $25 per month No Yes 8.6/10 8.7/10
ADP Workforce $25 per month No Yes 8/10 8.5/10
Oracle HCM Cloud $8 per month for 1000 employees No Yes 6.5/10 7/10
Zoho Recruit $25 per month Yes Yes 8.5/10 9/10
Ulti Pro $25 per month No Yes 9/10 9/10
Saba TMS $15 per month Yes Yes 7.8/10 8/10
Cornerstone onDemand $6 per month No Yes 8.5/10 9/10