Executive Summary: Driven to deliver better business results, many companies are focused on improving how people are managed within their organizations. To support their efforts, a broad array of technology solutions are at their disposal to manage talent more effectively. These solutions have been designed to support each talent management function: recruiting, performance management, compensation management, learning and employee development, and succession planning.
Despite their potential, however, these talent management solutions have not been widely deployed, and they have had only a limited impact on business performance. Many companies have been resistant to adopting them because they focus on efficiency, not necessarily effectiveness, they are designed for HR professionals, not business managers, and they lack integration across functions.
In order to overcome these flaws, a new generation of talent management solutions have been developed. These new solutions are designed to better serve the needs of companies that want to more effectively attract, develop, assess, reward, and retain people with the required skills and competencies to meet an organization's current and future business needs.
To meet their objectives, these new solutions are explicitly designed to empower business managers to achieve better business results. They provide broad and integrated functionality, are built on a common data platform, and present a single, intuitive user interface. They are delivered via an on-demand model that allows them to be more rapidly deployed and updated.
Evidence indicates that businesses are starting to embrace these new technology solutions and take a broader approach to talent management focused explicitly on business objectives. The result is wider adoption and greater impact on company success.
