BizAnalyst Network: Talent Management: Managing Your 'Greatest Asset', Your People

Thursday, March 30, 2006

Talent Management: Managing Your 'Greatest Asset', Your People

After years of saying that people are their greatest asset, companies are realizing they need to do more than just talk. Top employees dissatisfied with their work environments are increasingly going elsewhere, a problem companies can't afford in today's competitive environment.

Why does the Yankee Group expect the market for talent management software to grow by 20 percent in 2006? An intensely competitive environment means that companies need to work harder at retaining talented employees and culling underperformers from the ranks. Software from vendors like SuccessFactors, Halogen Software, Authoria and Recruitmax can help companies with performance reviews, succession planning, compensation, goal-setting and employee surveys, among other tasks. One customer, Allied Building Products, used software to identify and correct discrepancies in how employees were compensated. Its retention of new hires has doubled in the 18 months the company has been using the product, says its CFO.

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http://ct.itbusinessedge.com/t?ctl=DABFBA:3C5015E