HRIS and Talent Management systems are powerful and effective tools for any business. We all know that we cannot possibly hope to manage that which we do not track and measure.
For measure we must. Not just the input and output of daily production and operations, but the most costly and valuable resource of all – our employees and human capital.
We don’t always like the idea of measuring people. Intuitively, it makes us fear losing some of that which makes us human.
But HRIS and talent management systems are here to stay. And for good reasons. Over the last few years, the development in this area has been remarkable. Increased vendor competition and technological advances have drastically improved functionality and user interface. We can now do much more, much easier and with less time and labor.
We have also witnessed a seemingly never ending wave of mergers, acquisitions and strategic partnerships within the industry.
It therefore did not come as a surprise when Halogen Software yesterday (October 29, 2012) announced a new partnership. The partner, however, is worth noticing: SHL.
SHL may not be a well-known company to many in the HR circles in the US. It may be better known in other parts of the world, especially in Europe.
SHL brandishes itself as “the leader in talent measurement solutions, driving better business results for clients through superior people intelligence and decisions – from hiring and recruiting, to employee development and succession planning.”
In other words, SHL is a global psychometric assessment provider.
Every year, SHL delivers more than 25 million selection and development assessments in more than 30 different languages. SHL provides solutions in 150 countries and maintains a local presence in more than 50 countries.
With the new partnership, Halogen and SHL promises enhanced value to Halogen customers across several key areas of talent management, including talent acquisition, leadership development, career development and succession planning.
There is no doubt that Halogen customers will be able to make better talent decisions and possibly gain a competitive advantage with the new functionality provided by the integrated assessments. Particularly within the area of selection and hiring, but also when it comes to performance management, talent assessment, succession planning, competence and leadership development.
Here’s an example: According to the Human Capital Institute (HCI), the cost of hiring the wrong person for a position has been estimated to be 1.5 to 3.5 times the incumbent’s salary. The underlying science of SHL’s assessments combined with a robust talent acquisition process can significantly reduce the risk of incurring these costs. If you were able to avoid one or two bad hires a year, the cost savings would be significant.
The use of objective assessments can also be extremely valuable when tied to your company’s core competencies, performance standards, or KPIs linked to your corporate values.
You may already use assessments for identification of high potentials, executive coaching and development, learning and development programs, management assessment processes, or the performance evaluation process.
However, if you have yet to integrate assessments into your HRIS or talent management system or processes, you’re not alone. Many companies are in the same situation, often because of lack of resources or internal expertise. If that is the case, I recommend doing one of the following:
- Reach out to HR colleagues and ask them what they do and what is working for them.
- Contact your existing HRIS or Talent Management software providers to check if they recommend or have a partnership with specific assessment providers or solutions
- Contact Corporate Elements or another trusted talent management consulting organization.
It is worth exploring. Assessments can add additional value to your existing HRIS and Talent Management systems and processes, and there is a proven return on investment. Assessments can also be an effective tool to reduce liability by adding objective criteria to your recruitment and development initiatives. And, whether you deploy assessments as an integrated feature in your HRIS or as a separate solution, it will prove to be a valuable and effective tool in the management of your most valuable resource.
About Ole Rygg, MA, PHR, CTC:
Ole is an independent talent management consultant, executive coach and strategic business partner who has been providing consulting and training services to businesses, non-profits, and government organizations since 2002. He is the president and founder of Corporate Elements (http://corporateelements.com), a leading provider of executive coaching, talent management, organizational development and productivity improvement products and services. Corporate Elements partners with you to provide the manpower, experience and cutting-edge expertise you need to reach new goals and operate to the full potential of your business.
You may contact Ole via email at email@example.com or by phone at (218) 329-0836.