A company’s talent pool is the first stop for recruiting. Your talent pool is filled with the best candidates for your current and future job openings. This is likely where you will find that ideal employee you’re searching for.
But to make the most out of your talent pool, you need the best talent pool management software. We’re here to help! This is your guide to the benefits of talent management pool software, with reviews of the five best options of 2024.
What is talent pool management software?
So, what exactly is talent pool management software? It is a specialized digital tool catering to an organization’s need for managing potential job candidates. This will typically have a variety of features that streamline such aspects of recruitment as candidate sourcing, screening, and tracking.
Depending on your choice of software, there may be additional features, as well as automation and innovative technologies. These make managing a talent pool even easier.
Benefits of talent pool management software
Here are the top three benefits that you can look forward to when using talent pool management software.
Improved recruitment process and talent acquisition efficiency
The first step in building an efficient talent management pool is acquiring that talent. That means your recruitment and talent acquisition strategies are crucial to the process. Talent pool management software improves your recruitment and talent acquisition efficiency.
Talent management software gives you access to centralized data which simplifies your talent sourcing and talent acquisition processes. Features like automated candidate matching streamline these processes even further. Combined, these features save you time and money while filling job posts.
Aluminate for Enterprise is the ideal solution, serving as a central database of current employees, alumni, and other top talent in your professional community. For more efficient talent management, you can segment them into categories with their own dedicated spaces, with the Groups module.
Enhanced job candidate experience
Talent management software does more than simply streamline recruiting and the hiring process. It enhances the candidate experience, too. It offers them more personalized communication, proactive engagement, and feedback on their job applications.
Candidates with a more positive experience are more likely to want to work for you. They will be engaged from the start. Aluminate for Enterprise is the perfect solution here, too.
The digital dashboard shows members all that is available to them. It speaks to everyone you include on the platform, matching them to the content that is most relevant to them.
Better talent management insights and planning
Your talent management system can always do with some improvement, but for that, you need insights into what’s working and what isn’t.
Talent pool management software gives you better talent insights for more data-driven recruiting decisions. When you have limited time to fill specific roles, you can rely on the data to find the most qualified candidates.
Once again, Aluminate for Enterprise is the answer. By communicating with candidates via the digital dashboard and inviting them to engage with you, you get valuable insights into your talent management strategy’s success.
Your top leadership positions are often best filled by your corporate alumni. They are already familiar with your work processes and have the expertise you know you can rely on. Also, these boomerang hires won’t need the extensive training that other new hires would need.
When you use a platform like Aluminate, which also serves as an efficient alumni program, succession planning is a breeze.
5 Best Talent Pool Management Software of 2024
To get the most from your talent management strategy, you need the best talent management software. Here are the five best talent management tools in 2024.
1. Aluminate for Enterprise
Aluminate for Enterprise is not strictly an HR solution. Rather, it is an online community platform that can be used for a wide variety of business needs, including as a talent management system. Other potential uses are as an enterprise social network, professional community platform, or alumni program.
It is this versatility that has made Aluminate a winning choice among leading organizations. It offers possibilities every business can appreciate, from a central database of top talent to segmented employee groups, all accessible from a dynamic digital dashboard.
Top features include:
- A central database for your talent pool, current employees, corporate alumni – whatever you choose to use it for.
- A digital dashboard that connects users to everything from engaging posts to important announcements.
- A group module that allows you to segment your talent pool into sub-categories.
- A mentor-matching feature that assigns mentees to their ideal mentor.
- Job posts are made visible to the most qualified candidates for the role.
- Highly customizable features for all industries.
Pricing is bespoke to your requirements.
2. Workday
Workday offers solutions for finance, IT, and HR. Its HR features are suitable for payroll administration, human capital management (HCM), and managing the employee experience. Workday has AI at its core, with the Workday Skills Cloud. It leverages machine learning to streamline talent management processes.
Top features include:
- A central database of top talent.
- A variety of HR-related features catering to talent management, onboarding guidance, and succession planning.
- The Workday Skills Cloud which matches candidates to job openings using AI-driven skills and competency analysis.
- Organize and manage talent pools based on skills and potential roles.
- Candidate relationship management to maintain and nurture relationships with potential candidates.
There is no free version, and Workday does not offer any pricing information on its website.
3. Sage HR
Sage offers software products and solutions for multiple industries and business needs. The Sage HR software can be used as a database of the most suitable candidates, and to onboard new employees.
Many HR processes can be automated, and some features allow employees remote self-service capability. This allows HR teams to save time, while still informing employees of schedule changes, company policy updates, and more.
Top features include:
- A database for collating data on all your top candidates.
- HR features like automated alerts and reminders, and company announcements postings.
- Self-service features for employee use, where they can review and request PTO.
- Evaluate and match candidate skills to relevant job openings within the system.
The core HR product is affordable, but additional features cost extra.
4. Talentsoft/Cegid
As part of Cegid’s expansion in the European HR tech market, it acquired what was formerly known as Talentsoft. As part of Cegid, it offers its users a global HCM platform for centralizing employee data and covering a variety of HR processes including talent acquisition and talent management.
Top features include:
- A global platform and a central database for talent management.
- Group and manage candidates by skills, experience, and potential roles.
- Maintain connections with candidates through personalized communication tools.
- Match candidate skills to job opportunities using AI-driven analytics.
Pricing is quote-based.
5. BambooHR
BambooHR is a user-friendly platform for managing different aspects of HR. It serves as an employee database and can be used for managing talent pools, recruitment processes, onboarding, employee performance, and much more.
Top features include:
- A central database for all your top talent – categorize and manage candidates based on skills and roles.
- Track interactions and maintain relationships with potential hires.
- Align candidate skills with job requirements for effective role placement.
- A range of add-ons for payroll, benefits administration, and time tracking, to complement the talent pool management system for a more comprehensive HR suite.
Bamboo HR offers Core and Pro HR plans, with a range of add-ons at additional cost. You can get a free quote through their website.
Invest in Aluminate for Enterprise for the best in talent pool management
Your talent pool is the wellspring of promise and potential. It is where you can look to find the right person for the right job, every time. Talent pool management software allows you to manage that pool effectively.
But talent management software should be more than a central database of top talent. It should adapt to your way of doing business. When your talent management solution co-exists seamlessly with your corporate alumni program and employee engagement platform, you know you’ve got a winner.
This is what Aluminate for Enterprise does for its users, and it can do the same for you. Request a free demo of the world’s most customizable online community platform, today.
