Implementing a single, integrated talent management system across your company can smooth the flow of information across HR, payroll, and benefits administration. This sharing of data can enable your business to better innovate and your employees to better perform. Here is a closer look at some of the strategic benefits an integrated talent management system can offer your company.
1. More strategic hiring
Integrating hiring efforts such as job descriptions, applicant tracking, pre-employment assessments, background checks, and drug testing can help ensure that you're bringing high-quality talent into your organization. Plus, with an integrated system all the data you take in about a new hire during the recruiting, hiring, and onboarding processes can be imported into their employee profile for use in other areas of talent management, reducing time-consuming data entry and the opportunity for clerical errors.
2. Improved employee experience = happier employees
Sharing one employee profile that begins when resumes are sourced and continues throughout the employee’s time at the company can help you maintain long-term relationships with star performers and may reduce turnover. The ability to easily update employee information, view pay stubs, and manage benefits from a single, integrated system can give employees peace of mind and may help them stay productive at work. An integrated system may also make it easier to manage benefit plans that help attract and retain productive employees.
3. Ability to tap into the expertise of partners
No in-house lab for conducting pre-employment screenings? No problem. An integrated talent management system enables you to identify the right partners to handle specific aspects of your HR functions, allowing your internal team to focus on their core responsibilities. Third-party partners can include companies that specialize in recruiting, onboarding, benefits administration, payroll outsourcing, and training and development.
4. Access to accurate data drives smarter business decisions
Unified HR systems integrate services throughout the HR lifecycle, from recruitment, to benefits management, to ongoing performance assessments. This end-to-end view of employee information gives management a better vantage point to see patterns within your operational data, making it easier to determine how decisions will affect other areas of the company. Plus, by implementing a single HR system across your company, you can mitigate roadblocks to the ideal scenario of each area of your company working together using accurate data. For example, using a single HR platform may help avoid clerical errors, which are often difficult to pinpoint in a dispersed system and can lead to cash flow problems and wasted time trying to fix issues across different departments and software.