Evan Rodd, PayScale.com
On the popular FOX TV series, “Arrested Development,” Michael Bluth (played by Jason Bateman) is forced to take over his family’s
failing construction company, after his CEO father is placed in jail under accusations
of treason. The show follows Bluth through a series of hilarious attempts to build
a business out of a staff and family that are beyond ill equipped for the
challenge.
Following the Bluth family from one misguided effort to the
next leaves one to wonder, what kind of talent management systems are in place
in their company? Also, in what world does Portia De Rossi pursue a
relationship with David Cross? I suppose that is another story.
Cloud-based systems are becoming more commonplace in all
corners of the software market, and talent management software is no exception.
Businesses are quickly updating the majority of their HR software, and the
market has grown rapidly to well over $4 billion. Of course, software alone cannot
take all the credit. Strategic management practices need to be implemented to
ensure results, but new developments in technology are making this easier than
ever. How can you determine the effectiveness of your management practices?
Furthermore, what are the benefits of implementing the newest HR software?
We all know the challenges that arise from corporate talent
management — this is where the Bersin & Associates Talent Management
Maturity Model steps in as an asset to your front line of defense.
How do strategic HR programs benefit your bottom line? The
findings may surprise you:
- Companies with level 4 talent
programs generate 26% greater revenue per
employee than their peers. - Companies with level 4 talent
programs have 40% lower voluntary turnover
among high-performers than their peers. - Companies with level 4 talent programs
were 28% less likely to downsize during the 2008 recession… and… - Companies with talent management software
are likely to be 11% higher on the maturity model.
There are many factors that contribute to the success of
your business, but securing top talent remains a key ingredient in driving
financial revenue. How you manage talent, define goals, and match the demand
for skills with available resources all determine wether or not you prevail in
the talent war. HR software alone is not the answer, but rather how you use it
to structure your company’s goals, talent program, and development planning.
Strategic implementations of the HR programs can help you
define clear goals, and allows talent to hone their skills and contribute to
the success of a thriving company. Software provides a number of different
solutions, but it needs to support dynamic management practices to ensure
maximum potential. Do you think Michael Bluth could have saved himself a lot of
grief if he had only utilized the latest cloud-based systems?
More than 2,300 organizations use PayScale’s subscription software to:
- Allocate raises. PayScale Insight allows you to allocate raises based on employee performance and labor budget.
- Attract talent. Price jobs based on your local market and competition.
- Retain employees. Get pay right and show them how you did it. Your employees will be more satisfied to stay.
- Drive performance. Get their salary right so they can focus on doing a good job.
- Be confident. With know-how to talk about comp with anyone.
What are you waiting for?
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