APPEARANCE OF ANY PRODUCT OR MANUFACTURER IN PM NETWORK DOES NOT CONSTITUTE AN ENDORSEMENT.
BY PETER FRETTY
Of the 133 U.S. small-business CEOs who answered a recent survey conducted by the Kauffman Foundation, 128 planned to hire new employees in 2012. Contrast that to Europe, where a rising unemployment rate is lowering hiring optimism. Australia, Japan, China and parts of Southeast Asia all have low unemployment rates. Yet all of these outlooks require the same talent management solution: one that recruits and retains top talent.
After all, project teams in any country require the best people to succeed. “Having a robust talent management solution in place allows project managers to go into an employee profile and gain a working knowledge of a potential team member,” says Claire Schooley, a senior industry analyst with research firm Forrester in Cambridge, Massachusetts, USA. “No other [type of] solution is as instrumental at best fulfilling the people component of any project.”
Traditionally, talent management solutions lacked integration of recruitment, retention, social media and career development. But a recent push for suite-based offerings has led to more compatible options for organizations. “It's not quite where it needs to be, but the industry is getting closer,” says Ms. Schooley.
Today, the best talent management solutions offer rich profiles enabling project managers—if they have access rights—to search for information about employees companywide, including a candidate's performance history, willingness to relocate, successful learning endeavors, languages known, key skills and ongoing interests.
“This gives a much better sense of a person than the traditional résumé a project manager receives when posting an opening on the internal job board,” Ms. Schooley says. “In addition, many of today's solutions also include information about the employee's activity within social networks and communities the candidate belongs to.”
Another recent upgrade: Talent management solutions now are almost entirely software as a service, and smart phone and tablet compatible. PM
What Features to Expect from a Talent Management Solution
|Product||Recruitment Attribute||Retention Attribute||Social Attribute||Career Development Attribute|
|Wisetail(not offered as a suite)||✓||✓||✓||✓|
IS YOUR ORGANIZATION STRUGGLING TO ATTRACT AND RETAIN TOP TALENT?
of companies in North America have difficulty attracting critical-skill employees
of North American businesses have trouble retaining employees
Source: The Talent Management and Rewards Imperative for 2012: Leading Through Uncertain Times, Towers Watson. Results based on a survey of 316 organizations in May/June 2011.
JUNE 2012 PM NETWORK