Talent management is going through a major transformation with machine learning, analytics and mobile among the technologies leading the overhaul. Executives can choose from an array of new talent management tools such as micro-videos for employee learning, applications for continuous performance management and mobile access, and even blockchain for ensuring accuracy in hiring.
Talent management tools affect every aspect of a company and give HR a key role in improving business results instead of just overseeing personnel transactions. The area includes human capital management software for talent acquisition, onboarding, employee engagement, training, performance management, compensation, succession management, reporting and analytics.
In "Predictions for 2017: Everything is Becoming Digital," Josh Bersin, principal and founder of Bersin by Deloitte, details many of the new talent management tools. Bersin emphasizes that learning management, for example, is turning to video and employee-generated content while becoming similar to favorite learning sites like YouTube.
Bersin also mentions Saba Software, which has a product that uses machine learning to suggest training content for employees. He said companies are buying new performance management platforms and using people analytics to improve retention and innovation and reduce fraud.
Despite concerns about security, mobile is also picking up speed in talent management. Mobile can make it easier for employees to use software for time and attendance, core HR records, performance management, recruiting and talent acquisition. Mobile, for example, is a key aspect of a Cornerstone OnDemand human capital management system for VCA Animal Hospitals, based in Los Angeles.
Blockchain, a public ledger of transactions that can spot unauthorized alterations, could also dominate future talent management tools, especially in recruitment for validating accomplishments and resumes, according to analysts.
Consider this handbook on talent management trends to help understand how blockchain, mobile, video and analytics are helping to reinvent talent management.