NEW YORK, Jan. 6 /PRNewswire/ -- With economic recovery on the horizon, businesses are bracing for unprecedented turnover as frustrated employees look to "jump ship" as soon as the job market improves. Recent surveys confirm that more than 50 percent of workers plan to quit or change jobs in the coming year.
The threat of massive turnover should have senior management worried. How will your business recover if your talent walks at the first opportunity? What can you do to prevent the talented employees you've cultivated and nurtured from defecting - perhaps to your competition - as soon as the opportunity arises?
TalentStudio human capital and talent management solution provides the most comprehensive and effective tool for the strategic management of workforce talent. Designed specifically to help businesses identify and retain top talent, TalentStudio enables senior executives to make better-informed employee decisions by putting an insightful and actionable workforce dashboard at their fingertips to ensure a more successful long-term workforce strategy.
"Now more than ever, companies must be able to consistently and objectively arrive at people decisions to identify, cultivate and retain those employees who will contribute the most value to the future success of the company," said Jim Hatch, CEO of TalentScope, Inc., the innovative provider of talent management solutions and developer of TalentStudio. "Beyond recruitment and HR management, talent management is about developing and retaining the right people for your strategy, identifying future leaders, and providing front-line managers with the tools and information they need to accomplish their operating goals."
Initially developed with funding from the government of the United Kingdom to more efficiently manage the HR functions for the 1.3 million healthcare professionals employed by the National Health Services of England, TalentStudio combines all HR processes into one integrated platform. This effectively eliminates the need for companies to buy and maintain multiple modules from one or many providers, which often results in expensive integration and efficiency problems when disparate systems cannot communicate.
With one simple and fast implementation, TalentScope allows companies to facilitate all HR processes - performance management, succession planning, career development, workforce planning, goals and objectives management, talent search, talent analytics and demographics, compensation management, and much more - from the point an employee is hired to the time they retire at a fraction of the cost of other software solutions in the market.
"TalentStudio allows decision makers to look beyond typical employee demographic data like experience, education, background and salary, to assess the true potential and real quantitative value the employee brings to the organization," Hatch said. "By integrating key performance metrics alongside goal setting, skills and competency assessments, TalentStudio allows companies to better manage employees' entire career lifecycle and achieve a greater return on their investment in people."
Identify Rising Stars with Comprehensive Talent Assessment
TalentStudio helps managers identify rising stars within the organization, as well as ferret out those who are, or perhaps should be, on their way out the door. Using quantitative assessment tools, such as employee surveys, TalentStudio gathers, stores and evaluates information on employees' skills, motivation, leadership capabilities, aspirations and loyalty. By correlating this data alongside performance appraisals and other performance metrics, TalentStudio generates an employee scorecard that can be used by management to make critical decisions about promotions, restructuring or reductions-in-force.
"By looking at the scorecard, managers can determine, in real-time, whether an employee is ready, willing and able to hold a position of greater responsibility, and if not, identify areas where he or she needs additional support in order to rise to the challenge," Hatch said. "Beyond that, TalentStudio can also aid in succession planning - with a few clicks, management can identify which subordinates might move up to fill the vacancy if the promotion goes through."
Integrated Workflows Streamline HCM Processes
Designed specifically to be user friendly and infinitely customizable to suit any business need, TalentStudio provides a complete human capital management suite under one integrated system, delivered on a Software-as-a-Service platform. From applicant tracking, benefits management and payroll functions to training records, performance appraisal and succession planning, TalentStudio allows both HR and division or department managers to access the most current employee data in real time from anywhere with an internet connection. Customizable access control provisioning ensures that only the appropriate personnel can view and modify records in the system.
A robust search function allows managers and HR administrators to search employee records by skill set, level of education or experience, training received or any other parameter; each parameter can be customized to meet the specific needs of the company.
TalentStudio integrates existing legacy HR software applications; data from disparate software can be quickly and easily imported from other sources into TalentStudio. In most cases, the system can be up and running in two to four weeks, compared to months or years for other, more expensive module-based systems.
To help companies gather critical data not included in traditional HR management software, such as employee goals, aspirations and leadership ability, TalentStudio includes a robust set of pre-defined employee survey questionnaires that can be distributed on demand via email to employees across the company, individual divisions or departments.
TalentScope has been recognized as Software of the Year by Human Resources Executive Magazine during its annual HR Technology Conference and Exposition. For more information about TalentScope's integrated HCM and talent management suite, visit www.talentscope.com.
TalentScope provides innovative and cost-effective talent management and workforce planning solutions that are easy to deploy and use in any business environment. Founded by senior human capital and talent management experts, the company focuses on supporting senior management decisions around talent and workforce planning. For more information, visit www.talentscope.com.
SOURCE TalentScope, Inc.