Any successful company knows that the basis of its success is its people. Talented people are crucial to developing and implementing business strategies and meeting organizational goals. Their skills, strategic thinking, and creativity are the main drivers of every company’s success, and managing this type of talent is an important part of every human resources department. Total talent management solutions, a new trend in workforce management, aims to help companies recruit and manage all of their people, from full-time employees to independent contractors.
Managing an entire workforce is challenging, regardless of a company’s size or scope, so searching for end-to-end solutions that facilitate this management is understandable. Transforming data into analyzed, usable information can help companies to better manage their workforce and make more informed decisions.
There are several reasons why companies may choose to create these larger solutions through software bundles that integrate different, independent software applications into one “super” service.
Total talent management solutions can optimize a company’s entire talent pipeline by developing an effective process to identify, acquire, develop, and retain top talent. It’s like thinking of the workforce as a house – you can’t build a house with only 70% of the required materials. Integrated solutions claim to give access to 100% of the information about an entire workforce, which companies can then use to make decisions about recruiting, development, and retention.
Bundling software products to create larger solutions is also a way to keep up with technology. Cloud and network-based SaaS (Software as a Service) computing allow companies to access information from their talent management software anywhere, anytime. By combining software products and offering them as a bundle deal, companies get to reap these benefits. It also helps companies to stay ahead of the curve and keep up with new trends.
Although total talent management solutions sound like a great way to integrate a company’s workforce management, there are also disadvantages and things to look out for.
The key takeaway when it comes to bundled total talent management solutions is to be smart. Don’t just follow the crowd to be trendy – take the time to evaluate your company’s needs and determine what solutions would truly help and how much you’re willing to pay for them. If there’s a bundled software option that fits your needs, then great! But if not, don’t try to fit a square peg in a round hole just because it seems like it will save you time and money – you’ll likely end up spending more of both if you do.