The not only to store employee records and

 

 

The human capital is truly valuable
part of every business institution, therefore, it is essential and critical for
a business to be adaptable to the growing need to invest in the proper
management, development and preservation of its people.  In line with this, a lot of companies
nowadays, are using human resource information system as a simple database to
store employee records and basic information. 
But HRIS, was not able to fully meet the successful management of human
resources.   And thanks to the rapid advancement of
information and technology system, talent management systems have been created
to help companies not only to store employee records and basic information but
also cater various and complex HR functions in a simplified, effective and
efficient way.

 As mentioned in the article, talent management
systems are generally considered to be comprised of four modules, also called
“pillars” namely recruitment, corporate learning, performance management, and
compensation management. And these four modules are being offered by vendors in
one entire suite, however most companies rarely buy it because it is too
expensive.   So what they normally do is they purchase one
module at a time not only to manage their cash outflow but to assess the
capability of the system.  And once
proven that the purchased module is able to meet the companies’ requirements
and expectations, they may opt to purchase another module until such time that
the whole talent management system is fully implemented inside the
organization.

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For the first pillar which is
recruitment, it is the basic foundation of HR function with the objective to
meet both the needs of the company and the needs of internal and external
applicants.  In order to help them find
the right candidate for the job, HR department uses traditional way by relying
on job search engines such as Jobstreet and LinkedIn and also through head
hunters.  HR department must ensure that
there is a right person for the vacant position.  Because of this essential function, HR
department must have a reliable tool or system to carry out their tasks
effectively and efficiently.  In line
with this, the recruitment management software system will enable HR department
to perform and facilitate their tasks in an advance and effective manner.  This is because the system is designed to
automate and simplify the processes from job opening to hiring new personnel
through discovering, assessing, and selecting right fit candidate. 

For the second pillar which is corporate
learning, HR department’s function does not end with recruitment process.  They must ensure that the hired personnel
will have a continuing development of talents and skills. It is their
responsibility to identify the need of each personnel inside the organization.  A certain training / seminar is not applicable
to all because each personnel has different level, position and job
description.  In addition, corporate
learning nowadays are open to new ways to develop employees, trainings/learnings
are not confined to the four corners of the office.   Usually, they identify the appropriate
training / seminar for each individual or group.  Therefore it is essential that they maintain
a database of all personnel’s learning path and career achievements.  In line with this, learning management system
will help HR department to keep track of the career development of each
staff.  It will also assist department
head (e.g. Finance Department) to plan their workforce to temporarily replace
someone that is enrolled in a certain training / seminar.  I think that learning management system is
also useful if there’s a need for internal promotion.  It will enable them to easily assess
potential personnel by checking the training and seminars that they’ve
attended.  The efficiency of the system will
help them compare competitive personnel within hours instead of going through
the traditional way of using manual tracker and various documents which will
take them days or even months to accomplish. Corporate learning is essential to
develop and push each employee’s fullest ability and capacity.

Following corporate learning, is
performance management.  Most companies
are still using the common way of assessing the performance of employees, which
is the annual performance review.  This
kind of assessment allows the manager and the employee to sit down and have a
one-on-one discussion on the result of previous year’s performance based on
pre-defined criteria where they need to agree on the identified
accomplishments, strengths and areas for improvement.  It also includes setting up of new goals and
identifying tools that will help the employee achieve such goals.  However, there is an increasing rate on the
number of companies that perform frequent reviews, I think the reason for this
is to identify if an employee requires coaching on areas where he/she needs
improvement. Performance management is a great way to acknowledge employees who
did well and showed dedication, commitment and excellence, but it also help the
heads of various departments to be more open and encourage those employees that
needs improvement.  It will enable them
to come up with fresh and innovate ideas that will motivate and bring the best
of their people.

The last pillar is called compensation management.  When handling various computations related to
compensation, most companies are using Microsoft Excel instead of dedicated
software.  However, when there’s a wide
information that must be analysed, there are available compensation management
modules being offered in the market to automate the task.  It will enable users to perform tasks,
retrieve data and execute computations as directed. Excellent compensation
management helps organizations in attracting employees, fire up better
performance, promotes motivation and ensure retention of top talent.  A top talent will have a hard time leaving
the company if he/she receives what she deserves or even more.  She will likely stay if the compensation is
commensurate to his/her skills and experience and if he/she is being rewarded
for valuable contributions for the growth and success of the company.

On the other hand, there is a talent management suite that
include all four pillars mentioned above. 
Though it may be appealing for companies who have capacity and resources
to purchase this suite, they still need to test, evaluate and raise all the
relevant questions in order to come up with a wise and sound decision whether
to purchase a talent management suite or one pillar at a time.

 

 

           

 

 

 

 

 

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