Talent management suites are an integrated collection of components including talent acquisition to on-boarding, performance appraisal, goal management, career development, succession management, learning management, benefits management. These components will help companies perform Human Capital Management Processes of planning to screen and source talent, acquire and on-board, assess performance, reward and develop employees with training.
Historically, HR professionals had to invest in separate/ individual components to perform various functionalities in the talent management suite. However, offerings of the HCM Software vendor community has continued to expand beyond their capabilities, which now covers almost all of the processes in a talent management suite. As a HCM software solution provider for many years, we have incorporated all of the above components into our talent management suite in the HCM software which makes Microimage HCM a best-of-breed software to support the talent management processes of an enterprise.
Our talent management suite with these components integrated into it, will minimize the cost and effort involved in integrating multiple niche solutions, thus making the entire talent management process easier and viable.
Gartner research (client inquiries and formal surveys) also indicate that the number of customers adopting few modules from a single vendor continues to grow, and that customers are increasingly encouraged to buy more modules from a single vendor, even though these modules tend to be deployed over multiple project implementation milestones. Gartner further reveals; The overall market for talent management solutions (license and subscription software only) is estimated at $3.3 billion, and continues to grow at approximately 10% annually. These findings prove the vibrant nature and continued evolution of the talent management suite market.