In spite of the delayed economic trend, the talent management software market has seen a lot of highs and is making a good summer and Fall.
There are many leading vendors like Success Factors and taleo which have taken it upon themselves to improve their horizons and there are many other software providers who have introduced many new features. Companies are still buying new products an purchasing the best kinds of software in the market.
Growth rates are very less than what was shown a year ago. The talent management market is slowly growing by around 15% and it is said that it would reach around $ 2.5 billion very soon. This was also confirmed by heads of research firms.
The talent management software is thus slowly growing as a business and there are many business heads like Accenture, IBM, Mercer and Hewitt which have made a lot of strategies to bring about many kinds of talent management software into the market. They are also thinking of bringing in a lot of outsourcing and consulting software too.
Talent management software normally refers to certain kinds of applications that help the organizations with the main HR responsibilities. These tasks include areas like employee performance and recruiting and also compensation. The tools are getting sold very quickly in the past few years. The organizations are now searching to improve on the people and also start the processes that are base on paper.
Taleo and Success factors have today been major players in the flied and in the recent past they have tried to improve the entire software structure. Success Factors have redefined their main aim to executing business these days. Earlier Success factors had talent management and performance as its main mission and today they have shifted it to making business as their main performance. So it brought in a new tool that is mainly designed to permit easy collaboration between line managers and recruiters.
In fact Success Factors has said that they are on a great mission to solve the problem of lack of executing ability in the business arena. In fact they have been applauded by investment firms for their efficient management of business execution. It has been said that this company is in the focus and has a better vision perspective.
Taleo also got considerable spotlight sometime in the month of September. It brought in a lot new versions of the software in talent management. This is inclusive of a new kind of user interface and it permits a lot of access of mobile devices like iPHones.
The Taleo 10 is inclusive of developing the employee module which has been so designed to give the managers a lot of idea of the way the employees have had development plans. These plans have been so formed that they focus a lot on competencies, goals and performance reviews.
Taleo would soon be also taking over software firms . Thee are also their kinds of vendors in talent management that have ben really busy in the market. For example Plateau systems brought in its talent gateway which is a group of web based collaboration and communication tools. Employees thus would have a lot of dedicated web sites which would have access to many tools like message boards and blogs alongwith document libraries.
Lawson Software also has announced the updates it had in managing the software for talent management. This is inclusive of a planning tool that has improved greatly. This company is permitting organizations to create a lot of tools for talent to get ready for the turnover in not only key positions but also executive jobs. Individuals can also be flagged as potential successors for more than a particular position.
Software trends in the market have brought in a small revolution in the market.