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THE BUSINESS CASE FORTALENT MANAGEMENT SYSTEMS
NO LONGER OPTIONAL
WELCOMEThe webinar will begin in a few momentsConnect headphones to use VOIP
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AGENDA
1. Costs and consequences of poor talent management practices
2. Results of the survey you completed
3. Best practices around talent management systems
4. Q & A
5. Special Offer
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FOR BUSINESSES THAT GETTALENT MANAGEMENT RIGHT
Higher Staff Engagement
2.5x Faster Growth
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FOR BUSINESSES THAT DON T
Businesses in the USA are wasting $105 billionbecause of poor people management
13% of US employees leave their jobs beforebecoming competent
US Managers spend up to 41 days per yeardealing with under-performance
US employees admit to not reporting 68% oftheir mistakes
SHL / Future Foundation 2006
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POSSIBLE CAUSES
80% of companies have in-depth information about their hard assets
25% of companies have in-depth information about their human capital
their hard assets
2% of time spent understanding human capital
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DRAKE SURVEY RESULTS
Only 20% of respondents feel they have enough information about their human capital
Compared to 50% who feel they have enough information about their hard (capital) assets
Majority of respondents (60%) spend less than 40% of total time on managing staff
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GUIDING PRINCIPLE
Measurement=
Management
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CONSEQUENCES?
Low productivity
Low morale
Low engagement
High staff turnover
Poor quality
Waste
Bad client service
Lost clients
Lost market share
Lost business
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WHAT S THE ANSWER?
Talent management is not easy to get right
Finesse and insight required, but basic principles apply
WHERE TO START?
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BASIC PRINCIPLES
Organizational Strategy
People Strategies
Manpower planning, recruitment, on-boarding, performance, compensation, learning, mentoring, career development, succession, off-boarding.
Supported, held together, institutionalized by a Talent Management System
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WHAT A TMS IS NOT
A quick and simple solution to all people-related problems
Medium of command
Social forum
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WHAT IS A TALENT MANAGEMENT SYSTEM
Next-generation of traditional Human Resource Management Systems (HRMS)
HRMS:
Transaction processing
Administration of basic human resources processes(personnel administration, payroll, time management)
TMS
Leverages information on HRMS
Combines into advanced functionalities
Assist in strategic business decision making
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WHY IS THIS IMPORTANT
Measurement = Management
People / talent are the single most expensive category in most businesses
On average, companies spend 70% of total cost on people
Ability to manage that resource turns human
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DOES IT WORK?
CedarCreststone 13th Annual HR Systems in Canada. Survey 2010 - 2011
Businesses using a TMS / HR automation
Businesses NOT using TMS / HR automation
Net income growth 48% 11%Sales per employee $517,000 $395,000
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TMS BEST PRACTICE
A great TMS will be:
User-friendly - Configurable to your needs
On one platform, hosted, SaaS Model
Affordable, secure, comprehensive, scalable
Supported by outstanding vendor team
Supportive of all your talent management initiatives
Advanced in its analytics to provide the right information at the right time to make the best business decision
Directly linked to improvements in your bottom line
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TMS BEST PRACTICE
Standard HRMS functions
Payroll
Benefits Administration
Workforce Planning
Workforce Acquisition
Applicant Tracking
A comprehensive TMS should include the following functionalities on ONE platform:
Competency Management
Performance Management
Learning Management
Career Tracking
Reports and Analytics
Employee and Manager Self Service
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WHERE TO FROM HERE?
your own business case!
Add up the numbers:
cost poor performance
cost of high staff turnover
HR administration cost
Project a 5% improvement in $/c
A system pays for itself!
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Q & A
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SPECIAL OFFER
Carola Moore416 216 1021
Let a Drake TMS expert help you create a business case!
OBLIGATION FREE!!
