As a human resources manager, your job is not finished once you have identified the perfect candidate and filled the vacant position in your company. In fact, the truth of the matter is your job has just begun.
In order to retain the talent you just secured, you will have to do a little more work than simply sign off on the new hire packet. Talent management involves much more than simply attracting and hiring the right candidates for the job; it involves a number of tasks and disciplines, including:
- Ensuring substantial management and training
- Managing and maintaining a competitive compensation package for each employee
- Offering additional retention programs such as bonuses and stock options
- Creating visible promotion paths
- Monitoring employee performance and education
This is a lot of work, especially for companies who employ hundreds upon thousands of employees. How can companies realistically keep track of all the hiring information, monitor each employee’s performance, and create competitive compensation packages and retention programs while continuing to manage the day-to-day HR functions? The answer is simple: with a human resource information system (HRIS).
HRIS: Pairing Human Resources with Talent Management
An HRIS is more than a tool to streamline payroll and simplify the day-to-day human resources processes. When used to its full capacity, HRIS can serve as a full talent management system, allowing companies to create, manage and deliver personalized training programs for its employees, measure employee performance, and create fair and competitive compensation packages to increase employee retention. HRIS can be used by the human resources department to:
- Increase Return on Employee Investment (ROEI) by increasing productivity and decreasing employee turnover rates
- Reduce administrative costs
- Spend the training budget more efficiently
- Identify skills gaps across the organization
- Reduce the risk of noncompliance
- Drive employee engagement and innovation
- Develop a healthy leadership pipeline
Do not allow complicated processes to affect your talent management. Give us a call today to learn how you can simplify the process and keep your employee around for the long haul.