When it comes to HR technology, most people think of core human capital management systems. While these systems are essential for managing people, they only scratch the surface of what talent development platforms can do.
Vendors of core systems such as Oracle, Workday, ADP, SAP, UKG, and Ceridian are expanding their all-in-one solutions; it's a multi-purpose "complete" system. Small companies can create single-purpose apps and innovate quickly, leading to a cycle of tech growth and consolidation.
A large organization may have dozens of applications to hire, deploy, and grow a skilled workforce and measure its performance and productivity. These apps go beyond traditional HR by providing comprehensive solutions for candidate assessment, coaching, mentoring, and employee engagement.
On top of that are Employee Experience Platforms, pioneered by ServiceNow and Microsoft Viva, answering the need to unify the various tools to manage them as a set of workflows and make optimizing your talent processes more accessible than ever. In addition, they offer employee listening features that enable you to understand your people.
As in every dynamic technology field, innovative ideas continue to develop.
Leverage Your Talent Tech Stack to Drive Value
Now, let's dive into our top six recommendations for getting more value from your talent technology stack.
Develop Strong Leaders
Your succession management process aims to ensure that you have a robust talent pipeline for future leadership roles. It reduces the risk of not having well-prepared leaders to assume critical leadership roles.
Successful companies strive to identify potential leaders early in their careers so they can provide the right development programs and increase their knowledge of the industry and the company.
But a succession plan is for more than just the C-Suite. You have critical roles throughout the business that require strong leadership to achieve your strategic goals.
Build Bench Strength
The application of AI to HR has created a brisk market for Talent Intelligence Platforms that supercharge sourcing, internal talent matching, and succession management. They offer assessments, job design, and skills analysis.
Innovation has spawned the Talent Marketplace. It's an internal driver of career management, internal mobility, job matching, and mentoring. Your Marketplace will create an internal gig market, matching people to skill development and stretch assignments. Those opportunities alone will have a tremendous impact on employee turnover.
You don't have to be a vast enterprise to enjoy the benefits of a talent marketplace. Many affordable solutions are available.
Start Development Early
The development process begins even before the hire. Prospective employees should learn about the company's mission, values, business strategy, and employee value proposition (EVP). During onboarding, you reinforce the new employee's commitment and understanding of their role in the company's strategy and make them part of the team.
Onboarding continues as you prepare the employee to succeed in the new role until the new employee is ready to perform or fails.
Choose the Right Learning Platform
With hundreds of learning systems available, choosing the right learning platform is tough, but one difference quickly narrows a decision.
Although both deliver learning, there's a difference between a Learning Management System (LMS) and a Learning Experience Platform (LXP).
The LMS is designed for managing learning. Its original design was to provide and track what employees were required to learn. It's best for large organizations in highly regulated industries like airlines and pharmaceutical firms.
The LXP arose in about 2015 as a reaction to the top-down managed learning of the LMS. It's designed to help employees understand what they need to know and find it, and to deliver learning in the flow of work (). Employees often manage their own development.
It didn't take long for each to gain characteristics of the other. LXPs have become better at tracking required learning, and LMSs can now deliver any learning from anywhere. You have many more decisions to make, so we recommend engaging an independent consultant to help you through the evaluation and selection process.
Integrate Your Technology
Your technology won't deliver top value until it's well-integrated. For example, your employee records and learning records won't be in sync until you integrate learning with your HRMS, HRIS, or other system of record and establish a single source of truth for each employee data point.
Your applications need to be integrated to work together. You can link your talent intelligence platform to your succession planning or talent marketplace instead of updating it manually.
Build a Strong People Analytics Team
Analytics is the engine that drives wise decisions in employee development. Deliver analytics to decision-makers using dashboards and visualization. One of the best investments you can make is to hire a data visualization expert who delivers business intelligence to the people who need it, where and when they need it, and in a format they understand.
The quality of the decisions you make will repay your investment many times over.
Into Action
Talent development platforms and HR technology are the solutions to creating a competitive organization.
Succession management will ensure a robust talent pipeline while you develop bench strength with an internal talent marketplace and learning platforms.
Be sure to integrate your technological tools so they work together to boost your efforts and build a healthy people analytics team to help your company make the right talent decisions.
Investing in talent development activities that cultivate the skills you need to meet your operational goals will help you maximize operational efficiency at minimal costs.
To get started on your organization’s success journey, read our eBook to see how to align your talent to your business strategy and unlock its true potential.
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