22 Jun For an Engaged Workforce, Choose Talent Management Software with these 4 Tools
Employee engagement – often defined as an associate’s willingness to contribute discretionary effort to the organization – is a major issue plaguing employers today. It’s a critical concern for two reasons: for one thing, employee engagement has a direct impact on countless business outcomes (most notably, performance), and for another, companies have a difficult time finding effective solutions to combat the issue.
For instance, the Bersin by Deloitte Global Human Capital Trends report shows that 79% of companies polled feel that they have a significant retention and engagement issue. IT Business Edge states that having a disengaged workforce contributes to higher turnover, increased absenteeism, and lower productivity. Perhaps worst of all, Gallup estimates that disengaged employees could cost the U.S. between $450 and $550 billion in lost productivity each year.
Instead of letting your employee engagement and productivity levels drop, you can take a proactive approach to improving these areas with the help of talent management software. When searching for tools to boost your talent management system, make sure that the software you choose has the following capabilities:
- Retention-Driving Capabilities such as stay interview software to drive engagement for your key contributors
- Compensation Planning Support to help your managers easily connect performance with pay to show appreciation for top performers and encourage ongoing productivity
- Performance Management Solutions that provide real-time updates so managers can engage their people by providing timely feedback and offering praise for exemplary performance
- Total Rewards Communication Tools that drive motivation and commitment in associates by presenting them with a clear picture of the full value of employment in your company
When you implement talent management software featuring the capabilities listed above alongside a strong performance management framework, you create a workplace that has all of the strategies in place needed to support engagement on an ongoing basis. Then, not only will your teams be happy and focused, you’ll also see lower turnover, better performance, and greater profits overall.
HRsoft is a leading provider of strategic talent management software that improves manager effectiveness and business results. Our full suite of cloud-based HR software solutions includes applicant tracking software, compensation planning software, total rewards software, stay interview software, performance management software, and content management software. To learn more about our Talent Management Software, click the button below!