History of Talent Management Systems
Despite the fact that the definition of Talent Management may differ from vendor to vendor or from one analyst company to another, primarily Talent Management functions comprise of recruitment, learning, performance management, career and succession planning. Though many individual elements of Talent Management has been there in the market for quite a long period the demand for talent management has grown in the past couple of decades as a cohesive integrated and well-connected function.
The overall market for talent management solutions is estimated at $5 billion and continues to grow at approximately 12% yearly. These findings reinforce the energetic character and continued development of this talent management suite Marketplace ·
The sellers in this area are bringing varying challenges and advantages to the fore. Although some enterprises continue to engage in a best-of-breed approach by implementing point solutions for talent management, the study indicates that there’s momentum change of consumers embracing three or four modules from one seller keeps growing.
Growing number of clients as part of the integrated talent management strategy purchasing more modules from one vendor, though these modules tend to be deployed over several project implementation stages.
3 items to consider before you buy any Talent Management solution
- Keep the Whole HR roadmap and more especially the big talent picture on Your Mind
- Determine a logical starting point. Which ability function or functions are causing the main source of pain?
- Consider your organization size and industry sector.