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Rippling

Rippling gives businesses one place to run HR, IT, and Finance. It brings together all of the workforce systems that are normally scattered across a company, like payroll, expenses, benefits, and computers. So for the first time e...Read more about Rippling

No reviews yet

179 recommendations

Paycom

Paycom offers user-friendly HR and employee-driven payroll technology to enhance the employee life cycle, in a single software. Paycom drives efficiencies, increases data integrity and gives employees power over their HR informat...Read more about Paycom

4.4 (862 reviews)

116 recommendations

isolved

isolved is the most-trusted HCM technology leader, providing the best combination of software and services to meet the needs of today’s People Heroes – HR, payroll, and benefits professionals. From talent acquisition to workforce ...Read more about isolved

3.9 (503 reviews)

92 recommendations

BambooHR

Instead of using fragmented spreadsheets, limited or clunky software, and physical paper, BambooHR helps you centralize your data and automate the way you complete key HR tasks. As you hire, onboard, and pay your employees, every ...Read more about BambooHR

4.6 (2747 reviews)

69 recommendations

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Paycor

Paycor empowers leaders to build winning teams. Paycor’s human capital management (HCM) platform modernizes every aspect of people management, from recruiting, onboarding and payroll to career development and retention, but what r...Read more about Paycor

4.4 (2764 reviews)

68 recommendations

WorkforceHub Time & Attendance

WorkforceHub is a cloud-based time, attendance, and leave management system for small to mid-size businesses. This software can capture time data from web-based clocks or physical clocks for employees onsite, mobile, and working a...Read more about WorkforceHub Time & Attendance

4.4 (30 reviews)

58 recommendations

Factorial

Factorial is a cloud-based human resources (HR) solution that caters to small businesses across various industry verticals. Key features include a time-off manager, an organisational chart generator, a document manager and more. ...Read more about Factorial

4.5 (252 reviews)

44 recommendations

ClearCompany

Since 2004, ClearCompany’s end-to-end Talent Management platform has enabled thousands of companies to maximize talent by empowering people at every stage of the employee journey. ClearCompany integrates data-driven best practices...Read more about ClearCompany

4.4 (316 reviews)

42 recommendations

Dayforce HCM

Dayforce makes work life better. Everything we do as a global leader in HCM technology is focused on improving work for thousands of customers and millions of employees around the world. Our single, global people platform for HR, ...Read more about Dayforce HCM

No reviews yet

30 recommendations

Keka

Keka is a cloud-based human resource (HR) solution, which helps businesses manage staff profiles, track attendance, process recruitments and analyze performance. Features include GPS, pulse surveys, document storage, helpdesk, rol...Read more about Keka

4.4 (72 reviews)

25 recommendations

JazzHR

JazzHR is a Software-as-a-Service (SaaS) applicant tracking system. Founded in 2009, JazzHR provides recruiting and hiring software accessible to businesses of all sizes. JazzHR’s sourcing tools enable users to post jobs, mir...Read more about JazzHR

4.3 (469 reviews)

24 recommendations

Workable

At Workable, we know that when you make a great hire, you’re really making it possible for your company to do greater things. So we help you hire the greatest, every time, and effectively manage them with our expanded HR features....Read more about Workable

4.4 (444 reviews)

23 recommendations

PayPro Workforce Management

Over the past 30 years, Paypro has grown into a full service Human Capital Management provider, helping its clients in all aspects of payroll, time and labor management, human resources and employee benefits. Paypro has built its ...Read more about PayPro Workforce Management

4.7 (10 reviews)

22 recommendations

Performance Pro

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 ca...Read more about Performance Pro

4.5 (186 reviews)

18 recommendations

Netchex

What is Netchex? Netchex is a cloud-based human resource (HR) and payroll management solution designed for businesses of all sizes. Key features include recruiting and onboarding management, performance management, payroll managem...Read more about Netchex

4.5 (151 reviews)

17 recommendations

TalentReef

Mitratech’s TalentReef platform enables hiring managers to focus on business operations and customers while decreasing time-to-hire. Today's candidates want a fast, intuitive way to find jobs and apply. We go beyond simple job bo...Read more about TalentReef

3.5 (85 reviews)

16 recommendations

Quantum Workplace

Quantum Workplace helps organizations make work better every day with its employee success platform. We empower organizations to understand employee experience, inspire impact, and create a magnetic culture that attracts and retai...Read more about Quantum Workplace

4.7 (59 reviews)

16 recommendations

Collage HR

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 Canad...Read more about Collage HR

4.2 (52 reviews)

14 recommendations

Paylocity

Paylocity is a cloud-based human capital management (HCM) platform that provides human resources and payroll management tools to help businesses manage core HR functions. Key features include payroll processing, benefits administr...Read more about Paylocity

4.3 (825 reviews)

13 recommendations

PurelyHR

PurelyHR is powerful modular HR software for small to medium-sized businesses. Our cloud-based platform simplifies your everyday HR tasks including leave management, employee directory and onboarding, time tracking, performance ma...Read more about PurelyHR

4.5 (326 reviews)

12 recommendations

Buyers Guide

Last Updated: March 16, 2023

Talent management is a hot topic within the Human Resources (HR) software market. This software category refers to two primary functions: the acquisition of new hires and development of employees. There are more than 100 different software solutions available to improve your processes of interviewing, hiring, onboarding and retaining employees. Learning management is also increasingly being considered as part of this application category. With the HR market in constant evolution, we thought this guide would help you make better, more informed buying decisions.

Here’s what we’ll cover:

What Is Talent Management Software?

Why Do Companies Buy Talent Management Software?

Benefits and Potential Issues

What Type of Buyer Are You?

Market Trends to Understand

The Vendor Landscape

What Is Talent Management Software?

Talent management software is the trump card when it comes to successful acquisition, development and retention within an organization. That’s because with the right system, hiring managers can easily track applicants, stay organized throughout the interview process and minimize the paper trail when onboarding new hires.

It's certainly possible for companies to buy separate, "stand-alone" systems for each of these tasks—for example, one solution for tracking applicants, another for new-hire onboarding, and so on. But for companies looking to automate all of the above, a comprehensive talent management suite will incorporate all of these functionalities.

The top platforms also help modernize and streamline the performance review processes. Employees and managers can track individual performance goals and accomplishments throughout the year, making the review process a collaborative effort with measurable success.

With the evolution of cloud computing, complex processes have been revolutionized by engaging and involving a broader set of employees and managers. Cloud computing, or Software as a Service (SaaS), gives users the ability to tap into resources from anywhere there is Internet access. These Web-hosted, feature-rich solutions enable candidates to view and apply for your open positions online, answering specific questions and submitting important documents without flooding email in-boxes. Hiring managers can quickly access key information and identify their best applicants, minimizing time spent filtering through countless emails.

Core functionality includes:

  • Online applications

  • Interdepartmental communications

  • Resume import function

  • Applicant flagging/fast-tracking

  • Candidate tracking

  • Real-time performance documentation

  • Key document tracking

  • Goal tracking

  • Electronic record-keeping

  • Employee self-service

Why Do Companies Buy Talent Management Software?

Over the years, we’ve spoken to hundreds of companies considering the purchase of talent management software. As a point of reference, we thought it would be helpful to provide potential buyers with an overview of past clients’ main application requests, as well as reasons for purchasing this type of software.

The number one application requested by companies searching for talent management software was performance review, while applicant tracking and recruiting came in second.

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Almost half of the buyers we spoke with were looking to automate and/or improve their efficiency or effectiveness with the purchase of a new talent management system.

(https://software-advice.imgix.net/managed/tinymce_files/images/Why

Also interesting to note, the sizes of businesses seeking talent management software spanned a wide range. It seems that talent management is a concern for companies of all sizes.

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However, the type of talent management system you purchase will most likely be dependent on the number of employees you currently have, and the type of software you currently employ. As such, it is important to note that there are several different types of buyers.

Benefits and Potential Issues

Modernizing the approach a company takes to attracting and retaining talent makes it easier to keep employees engaged and motivated. Furthermore, by streamlining the processes for acquiring and retaining talent, employers can stay better organized and communicate more effectively. With candidate and employee information available at their fingertips, managers and HR professionals can quickly accomplish routine tasks to focus on more strategic initiatives. And employees that have a sense of their value within an organization are far less likely to leave than those who don’t. Having the right talent management tools is important to taking your people processes to the next level.

What Type of Buyer Are You?

Before you purchase a system, it is important to assess what kind of buyer you are. We believe that the majority of buyers fall into one of these categories:

Integrated suite buyers. These buyers work for organizations where some, or all, of the HR processes have become disjointed and inconsistent. They need reliable solutions to improve operational efficiency within their existing HR processes, while effectively updating their management of top talent. Quite simply, these buyers are looking to implement a range of applications, all within one integrated suite. Integrated HR suites with robust functionality are often the best solution.

Best-of-breed buyers. These buyers work for large organizations specifically interested in updating acquisition, development and retention strategies and processes. They need straightforward, easy-to-use talent management system tools that can be implemented into a complex operation with minimal interruption. Functional depth is critical to meet demanding departmental requirements, and best-of-breed systems with high SaaS capability offer the best solutions.

Cost-conscious buyers. These buyers work for organizations that are looking to update their existing systems while keeping costs low. Although there are less expensive on-premise options available, the evolution of SaaS in HR software is changing the industry. That’s because organizations with more limited resources are able to access a broad range of solutions. Cost-conscious buyers looking to enhance their acquisition process should consider stand-alone, best-of-breed applications to integrate with their existing HR systems, either on-premise or on in a hosted, SaaS-based model.

Market Trends to Understand

These trends should be considered as you research talent management solutions.

Consolidation. Recently, larger HR software companies have aggressively acquired many best-of-breed solutions as a means of strengthening the arsenal of their integrated suites. For buyers, this means increased functionality and integration with the rest of your HR system. These integrated suites offer across-the-board functionality, which provide users with a one-stop shop. Larger vendors have the resources to offer more customer support, and offer easy-to-implement solutions. The downside? Service sometimes experiences disruptions as vendors are acquired. Locking in rates and service/maintenance terms should minimize any discrepancies.

Software as a Service. SaaS has changed the HR landscape, offering exceptional usability for managers and employees at every step in the process. With its Web-based interface, SaaS offers buyers the tools to simplify and streamline complicated processes, such as applicant tracking and performance appraisal. Improved accessibility translates to increased usability, which in turn creates a more cohesive and collaborative effort when interviewing candidates or reviewing employee performance.

Strategic HR. Regardless of industry or size, an organization’s greatest resource is its people. Today, some of the most successful companies are focused on enabling HR professionals to harness this resource to its fullest. Analysts have been coining phrases like proactive management, talent pooling and retention strategies for a while now, and branding this category of software as “strategic HR.” Modernizing the process of attracting, acquiring and developing talent with these strategic tools enables an organization to consistently build the value of its talent pool. Buyers should consider whether they purchase these strategic HR tools from an existing HRMS vendor or a pure-play strategic HR vendor.

The Vendor Landscape

These types of buyers...

Should evaluate these systems...

Integrated suite buyers

Sage Abra HRMS, Lawson HCM, ADP, PeopleSoft

Best-of-breed buyers

Halogen, Taleo, Plateau

Cost-conscious buyers

iCIMS Talent Platform, aQayo, AcquireTM