Why HR Is Adopting Talent Management Systems

Workforce Management, October 6, 2008 | Go to article overview

Why HR Is Adopting Talent Management Systems


HALOGEN SOFTWARE INC.

Reason 1: Boards are Demanding Succession/Talent Plans

The National Association of Corporate Directors has repeatedly noted corporate performance and CEO succession as the two top concerns for hoards.

Organizations who believe they have succession planning covered because they have identified a replacement for each senior leader are short-sighted.

The most recent thinking on succession planning focuses on developing talent pools-identifying and developing high-performing employees across all key functions, rather than merely naming a few as executive replacements.

Boards are increasingly looking to HR to provide analytical data on everything from retention to skill gaps, and talent plans that align with strategic plans, to ensure that companies have the talent they need to achieve their strategic goals. Organizations can meet these needs with talent management software.

Reason 2: There's a Need to Secure Top Talent Now

Statistics on the growing global labor shortage are not new. By 2012 there will be a 3.3M shortage of skilled workers in the U.S. alone.

According to the 2008 Tap Five Total Rewards Priorities Survey by Deloitte and ISCEBS, a shortage of skilled and talented workers has become the most pressing concern among employers.

Retiring workers are typically in experienced management or technically complex positions; the pool of workers immediately following them is much smaller. Without a plan of action, the loss of experience, continuity and "corporate memory" can be severely damaging.

The ability to attract and retain skilled employees is critical to your organization's survival. The right talent management system can provide you with an effective means to increase employee satisfaction and retention.

Reason 3: Keeping the Changing Workforce Engaged

As the current workforce ages and Baby Boomers begin to move into retirement, Generation Y is entering the workforce. Managing this new generation of workers requires a shift in corporate cultures.

Gen Y has grown up being told they can do anything, and having access to technology that provides them with immediate answers. They need to know that what they do matters, and expect to be compensated and valued for their contributions. Millennials' desire to advance quickly and demands for real-time ongoing feedback and development are important talent management considerations.

These requirements make it even more important to automate talent management processes.

Reason 4: Companies Need HR to Become More Strategic

Increasingly, HR leaders are being called upon to help achieve corporate goals with strategic talent plans. …

The rest of this article is only available to active members of Questia

Already a member? Log in now.

Notes for this article

Add a new note
If you are trying to select text to create highlights or citations, remember that you must now click or tap on the first word, and then click or tap on the last word.
One moment ...
Default project is now your active project.
Project items
Notes
Cite this article

Cited article

Style
Citations are available only to our active members.
Buy instant access to cite pages or passages in MLA 8, MLA 7, APA and Chicago citation styles.

(Einhorn, 1992, p. 25)

(Einhorn 25)

(Einhorn 25)

1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

Note: primary sources have slightly different requirements for citation. Please see these guidelines for more information.

Cited article

Why HR Is Adopting Talent Management Systems
Settings

Settings

Typeface
Text size Smaller Larger Reset View mode
Search within

Search within this article

Look up

Look up a word

  • Dictionary
  • Thesaurus
Please submit a word or phrase above.
Print this page

Print this page

Why can't I print more than one page at a time?

Help
Full screen
Items saved from this article
  • Highlights & Notes
  • Citations
Some of your highlights are legacy items.

Highlights saved before July 30, 2012 will not be displayed on their respective source pages.

You can easily re-create the highlights by opening the book page or article, selecting the text, and clicking “Highlight.”

matching results for page

    Questia reader help

    How to highlight and cite specific passages

    1. Click or tap the first word you want to select.
    2. Click or tap the last word you want to select, and you’ll see everything in between get selected.
    3. You’ll then get a menu of options like creating a highlight or a citation from that passage of text.

    OK, got it!

    Cited passage

    Style
    Citations are available only to our active members.
    Buy instant access to cite pages or passages in MLA 8, MLA 7, APA and Chicago citation styles.

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn, 1992, p. 25).

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn 25)

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn 25)

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences."1

    1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

    Cited passage

    Thanks for trying Questia!

    Please continue trying out our research tools, but please note, full functionality is available only to our active members.

    Your work will be lost once you leave this Web page.

    Buy instant access to save your work.

    Already a member? Log in now.

    Search by... Author
    Show... All Results Primary Sources Peer-reviewed

    Oops!

    An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.