Showing 1-20 of 81 products
RUN Powered by ADP (RUN"), is a web-based payroll solution designed for small businesses. The solution can be deployed on either iPhones, iPads or on any touchscreen device. RUN can integrate with multiple third-party accounting software... Read more
Recent recommendations: 88 recommendations
ClearCompany is a software system that works for human resources (HR) and recruiting teams across both public and private industries. The ClearCompany Talent Alignment Platform connects recruiting, new employee onboarding and performance... Read more
Recent recommendations: 87 recommendations
BambooHR is a cloud-based human resources (HR) software service for small and midsize businesses. BambooHR offers small and growing companies a human resource information system (HRIS) that includes an applicant tracking system (ATS)... Read more
Recent recommendations: 67 recommendations
Workforce Ready by Kronos is a human resources (HR) platform that combines workforce management with human capital management (HCM) capabilities and is suitable for businesses of all sizes. Kronos Workforce Ready is a single cloud-based... Read more
Recent recommendations: 57 recommendations
Ultimate Software’s UltiPro® is a cloud-based human capital management (HCM) solution designed to help organizations manage their HR, payroll, and talent needs. A configurable solution, UltiPro has functionality for recruiting and... Read more
Recent recommendations: 32 recommendations
APS has a mission: to make payroll and HR easier. They have been providing payroll and tax compliance services to companies since 1996. In 2004, APS released its cloud-based solution for workforce management. APS delivers a single-system... Read more
Recent recommendations: 31 recommendations
ADP Workforce Now is a human capital management solution for companies with more than 50 employees. The core capabilities of the solution include human resources management, payroll, benefits, talent management, compliance, time and... Read more
Recent recommendations: 29 recommendations
Saba provides companies across the globe with a cloud-based learning and talent management application designed to drive employee engagement, elevate skills and improve business productivity. Saba provides traditional talent management... Read more
Recent recommendations: 24 recommendations
iSolved is a unified, cloud-based human capital management (HCM) solution that offers key workforce functions including payroll, HR, time and attendance and benefits enrollment, as well as people-centric functions such as learning... Read more
Recent recommendations: 21 recommendations
Performance Pro by HR Performance Solutions is a cloud-based performance appraisal solution for HR professionals. Performance Pro is customizable and allows users to align the solution with company’s strategic goals. The system can... Read more
Recent recommendations: 19 recommendations
Humi is Canada’s HR, Payroll, and Benefits solution for Canadian small-medium sized businesses. Companies use Humi to manage their employee data, employee onboarding, time off tracking, performance management, recruiting, reporting,... Read more
Recent recommendations: 16 recommendations
Collage is a cloud-based human resources (HR) and benefits management platform built for the needs of small and midsize businesses. Collage also digitizes group benefits enrollment and can sync with any insurance provider in Canada. Collage’s... Read more
Recent recommendations: 14 recommendations
Bridge is an employee development platform built specifically for employees and managers. It provides peer-to-peer practice, live in-person training, external learning, online courses, mentorship, manager 1:1s, goal tracking and peer... Read more
Recent recommendations: 12 recommendations
PerformYard is a cloud-based feedback and corporate performance management solution that allows users to set goals and track performance. The solution also helps in other human resources (HR) processes such as onboarding and organizational... Read more
Recent recommendations: 11 recommendations
Ascentis offers a cloud-based human capital management (HCM) suite designed for midsize companies of all industries. It includes HR and benefits, recruiting and onboarding, talent management, time and attendance and payroll. Ascentis... Read more
Recent recommendations: 11 recommendations
SentricHR is a cloud-based Human Resources (HR) and payroll software designed for midsize and large businesses. It offers core HRIS, benefits, recruiting, talent management, time and attendance, absence management and payroll. SentricHR... Read more
Recent recommendations: 10 recommendations
Performance Culture is a cloud-based performance management solution that helps managers and employees manage and analyze performance through continuous coaching, timely feedback recognition. The solution is designed to align company... Read more
Recent recommendations: 8 recommendations
Built on intelligence and machine learning, Oracle HCM Cloud is a complete human resources (HR) application suite. It is a personal, adaptable tool designed to support the entire workforce lifecycle worldwide for every industry and... Read more
Recent recommendations: 8 recommendations
Trakstar is a cloud-based Human Resource Management (HRM) solution that provides HR professionals employee evaluation functionalities like performance review, goal management, 360-degree feedback and succession planning. With Trakstar,... Read more
Recent recommendations: 7 recommendations
Workzoom by Nortek is the all-you-need cloud-based people management platform that helps clients simplify HR, payroll, benefits, time, recruiting, performance, learning, expense management and much more. Workzoom has all the functionality... Read more
Recent recommendations: 7 recommendations
No business wants to lose its best employees. When employees retire or quit, it creates a workflow imbalance, resulting in lower productivity until their replacement is found. While this may not impact large businesses as much, small businesses like yours bear the brunt of it the most.
For that reason, you need to plan ahead to minimize this productivity loss and ensure stability in the structure and processes, despite attrition. You can do this by identifying valuable skill sets or potential in the current workforce to replace outgoing employees.
The process of identifying, nurturing and retaining employees for future roles is known as succession planning.
With the help of a succession planning tool, HR teams can aggregate vital data about employee performance, potential and development. This data can help them make decisions about how to replace outgoing executives and high-value employees.
But it's not always easy to find the right succession planning software on your own. You need a detailed understanding of the software features. Fully realizing the benefits of these features will help you purchase the right software. This guide will help you understand succession planning software, its features and benefits.
Here's what we'll cover:
What Is Succession Planning Software?
Succession planning software helps HR managers make decisions about how to replace employees who are retiring or resigning. For business continuity, it's crucial to fill these employment gaps as quickly as possible.
The software helps in the following ways:
- Defines the competencies required to undertake the required roles.
- Identifies employees who have the potential to fill a given role.
- Assesses employees against set criteria.
- Trains employees to move into new roles by primarily leveraging the right experiences.
- Builds a database that can be used to make future staffing decisions for key roles.
Succession planning in EmployeeConnect (Source)
Common Features of Succession Planning Software
In this section, we cover the key software features that a buyer should be aware of before they purchase a solution. Most small businesses will need some (or all) of these features in their succession planning software:
|Competency modelling||Provides a framework of the skills, knowledge, ethics and values that are required for different departments and functional areas.|
|Talent pools||Uses a talent database to help users locate the desired and most suitable talent for given roles. The feature lists the employees according to their capabilities and competency levels.|
|Goal management||Allows users to create and assign employee goals that are aligned with the larger business objectives. Managers can track the status of employee goals and provide their feedback in real time.|
|360-degree feedback||Lets you collect employee performance feedback from peers, supervisors, line managers and other stakeholders, and store it in a centralized database.|
|Reporting and analytics||Helps users create employee performance reports based on the 360-degree feedback. These reports can help you identify performance trends, list the issues and make decisions regarding workforce planning.|
|Training management||Lets users evaluate employee feedback evaluation reports to identify employees' key strengths and weaknesses. Based on these reports, managers can develop personalized training development plans for their employees.|
What Type of Buyer Are You?
Before you start shortlisting vendor options for succession planning software, you need to understand your buyer type. This will help you analyze your requirements and prioritize software features into "must-have" and "optional" for your business.
This section breaks down the most common buyer types. Here are the two main categories of buyers:
Small and midsize businesses (SMBs): They typically operate with a few resources and employees on tight budgets. Succession planning software can help them better manage their resources and employees, avoid disruptions in the workflow and sustain the business for a longer duration of time. The main features that these buyers need in a succession planning tool are goal management, talent pool and training management.
Large businesses: They operate in a complex hierarchy, with employees spread across different locations. Large businesses significantly benefit from a talented workforce that is keen to take on leadership roles in the future. They need a comprehensive approach to ensure that future leaders have the essential industry expertise. Succession planning software should help their talent climb up the career ladder. The primary features they will need are competency modelling and training management.
Benefits of Succession Planning Software
Here are some of the benefits of using succession planning tools in your business:
Centralized database to store, track employee data: Storing employee data in a central database allows HR managers to view, edit or update employee information easily. It also lets them pull talent metrics from the database for different jobs and filter employees based on location, skills, role and other criteria.
Periodic performance evaluations: Succession planning software allows HR managers to evaluate employees on a regular basis (weekly, monthly or yearly). The feedback helps managers identify the top talent in the organization.
Identification of skill gaps: By mapping employee skills to desired competencies, HR managers can identify employees' key strengths and weaknesses. They can then provide leadership training to the top performers and personalized training or individual development plans for those who lack the desired skills.
Business continuity: Irrespective of their size or industry, all businesses need succession plans to prepare for sudden resignations and terminations. Thirty-five percent of businesses have a structured succession planning process and 34 percent verified that their succession planning was highly effective. The top reasons to implement succession planning in their business are to identify and prepare future leaders (89 percent) and ensure business continuity (72 percent).
Picture this: You find a succession planning solution that has all the relevant features, but lacks the option for integration. This could hamper your business in the future. Unfortunately, such instances aren't uncommon and require a thorough check before purchasing a solution. Here are some things you should keep in mind:
Support services: Before you start assessing succession planning tools, consider your employees and the type of support (email, phone or chat) they would prefer. In case, a support option isn't available, check if the vendor provides support forums and discussion boards to help employees resolve their queries.
Speed of implementation: The implementation time will depend on the type of software you choose—an integrated system or standalone software. Integrated tools require a significant investment of time and resources compared with standalone ones. Check with the vendor about the time it'll take to implement the tool and train users.
Data transfer services: When migrating from a legacy system, businesses need to transfer the data to the new system. Most vendors include a data transfer option in the software license cost, while others charge extra for it. If data transfer services aren't included, you may need to hire a third party, which would further increase your budget.
Scalability: Choose a tool that is scalable in terms of the number of licenses or users. This will help you prepare for future growth as you will be able to add new users as and when needed. You should also ensure that there aren't any hidden costs or fees before you purchase a solution.