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According to a study by McKinsey & Company, 35% of workers who exit a company mention uncaring leaders as one of the top three reasons for leaving. It’s a somewhat terrifying statistic, isn’t it? Regular, well-managed feedback is one of the best ways to be on the safe side of it, and good talent management systems are a big help in this regard. Here are our picks for five software tools worth considering in 2023!
5 best talent management systems: A detailed overview
Here are five talent management software systems you should consider in 2023.
1. Effy AI
Effy AI is a highly customizable performance management platform that allows you to organize your employees' personal information and optimize various talent management processes within the company, such as running 360-degree feedback, assessing whether a new employee is a good fit, conducting promotion reviews, etc.
Key features
- Powerful analytics – Use a wealth of analytical data, heatmaps, etc., to optimize talent management.
- AI-generated insights – Data-driven insights generated with the help of AI algorithms.
- Science-based templates – Access over 20 expertly created questionnaires. It’s a vast bank of ready-made questions at your disposal.
- Reviewer nominations – Collect reviews from different sources and allow employees to suggest peers and request approval.
- Feedback in Slack/MS Teams – Easy access to the review process thanks to communicator integration.
- Customization – If our ready-made questions don’t meet your expectations, you can customize them.
Integrations
Effy AI integrates with your HRIS (Human Resources Integration System). You can also connect it to Slack to send surveys and enable peer selection and automated notifications.
Pricing
Effy AI offers the following subscription plans:
- Free – unlimited review, unlimited members, free templates, Slack integration.
- Pro – $75/month (billed annually). 30 AI reports included, unlimited members, free templates, Slack integration.
Reviews
Effy AI has a 5.0 score on Capterra and a 4.9 rating on G2. Users like how quick and easy it is to implement and use but also notice it’s a new, still-evolving product that may still lack some features.
2. Lattice
Image source: G2
Lattice software is a cloud-based performance management solution that helps HR professionals monitor employee productivity and progress. It enables teams to identify, set and track goals, and conduct meetings and assessments.
Key features
- Performance reviews – Conduct reviews and 1:1s, collect feedback, 1:1s, get updates, and offer praise.
- Compensation management – Centralize cycle management and access comprehensive benchmarking data.
- Analytics – Access sentiment analytics, DEIB analytics, and team analytics. Make use of the adoption dashboard.
- OKRs & Goals – Set OKRs and track goals within your organization.
- Career Development – Help employees plan and develop their careers through individual plans, competency matrices, and career tracks.
- Engagement – Run pulse and engagement surveys, optimize onboarding & exit, and monitor eNPS to engage and retain employees.
Integrations
The platform offers many useful integrations, including popular tools like Okta, Slack, Atlassian Jira, etc.
Pricing
Lattice has four distinct pricing modules:
- Engagement – $4/person/month. Optimize employee engagement.
- Grow – $4/person/month. Access employee career development features.
- Compensation – $6/person/month. Manage compensation and promotions.
- Performance Management + OKRs & Goals – $11/person/month. Tracking goals and OKRs.
Alternatively, you can buy performance management or OKRs & Goals separately at $8/user/month.
Reviews
Lattice has a 4.5 score on Capterra and a 4.7 rating on G2. Users like the interface, ease of use, and 1-1 recordings but criticize the limited feature set and lack of flexibility.
3. Rippling
Image source: Capterra
Rippling is a cloud-based workforce management platform. It helps businesses manage their payroll, benefits, and expenses, but also elements of their IT infrastructure (devices, apps, etc.). The tool allows users to automate and streamline tasks, such as onboarding new employees, updating employee data, and syncing data across different applications.
Key features
- Recruiting – Source, hire, and onboard talent for your company.
- Payrolls and benefits – Easily run payrolls and manage benefits for your employees.
- Expense planning – Manage expenses with a powerful, automated system.
- Time & attendance – Easily and accurately track time and attendance.
- Headcount planning – Achieve alignment within the company regarding hiring and compensation.
- Pulse – Send customizable employee surveys.
- App and device management – Integrate with various systems and easily set up and manage devices within the organization.
Integrations
Rippling integrates with many tools, such as Google Workspace, Slack, Dropbox, Zoom, GitHub, and many others.
Pricing
The Rippling platform consists of several products/services, which the company sells separately. The pricing starts at $8/user/month, but you need to submit a quote request for more information.
Reviews
Rippling has a 4.9 rating on both G2 and Capterra. Users like the ease of use but criticize the implementation and support teams' slow response times and professionalism.
Image source: Capterra
4. Leapsome
Image source: G2
Leapsome is a platform that helps companies create a high-performance culture by aligning goals, enabling feedback, and fostering learning. It facilitates peer feedback exchange and allows managers to set and track OKRs and conduct performance reviews.
Key features
- Reviews – Conduct 360-degree reviews and performance evaluations.
- Goals – Facilitate alignment and drive accountability with clear goals.
- Surveys – Use engagement surveys to understand and improve company culture.
- Learning – Create customizable learning paths for employees.
- Compensation – Streamline compensation and promotion processes.
- Competency framework – Measure performance and visualize development and competencies across the company.
- Instant feedback – Facilitate positive culture within the company thanks to instant public or anonymous feedback.
- Meetings – Create clear agendas and action items to help everyone stay on point.
- Leapsome AI – AI-enhanced insights and feedback summaries.
Integrations
Leapsome integrates with various HRIS platforms (BambooHR, Workday, Personio, etc.), single sign-on solutions (Okta, GSuite, OneLogin, Active Directory), and other business tools such as Slack, Jira, and Microsoft Teams.
Pricing
The tool’s website doesn’t provide pricing details. You’ll need to contact the company directly to get a quote.
Reviews
Leapsome has a 4.8 score on G2 and a slightly lower 4.7 rating on Capterra. Customers praise the interface (in general) and the dynamic nature of the platform but complain about some features being hard to find and use.
5. Deel
Image source: G2
Deel is a comprehensive platform that simplifies hiring and paying workers worldwide. It allows you to create contracts, manage payrolls and benefits, etc. Moreover, one of its components – Deel HR – offers a suite of features related to performance management.
Key features
- Hiring – Hire employees and find contractors worldwide without creating countless job postings.
- Onboarding – Easily onboard new hires, no matter their country of origin.
- Reporting – Create customizable reports on costs, headcount, and payrolls. You can display them in the dashboard or share them outside the platform.
- Payments and benefits – Manage payrolls in over 100 countries worldwide, as well as benefits for teams located in the US.
- Referrals – Use candidate referrals to lower recruitment process costs.
- Connections – Build relationships within teams thanks to meetups and channels devoted to shared interests.
- Pulse surveys – Run surveys to keep a finger on team culture.
- 1-on-1s – Conduct one-on-ones efficiently and get more out of them thanks to excellent documentation and an easy-to-use feedback plugin.
Integrations
Deel integrates with tools like QuickBooks, NetSuite, Xero, BambooHR, Ashby, Greenhouse, Bob, etc. You can also use the provided API to connect to other solutions.
Pricing
Deel offers four pricing plans designed for somewhat different purposes:
- EOR – $599/month. A complete feature set.
- Contractors – $49/month. Manage and pay contractors worldwide.
- Global Payroll – Custom pricing. Manage multi-country payrolls.
- Deel HR – Free. Automate and optimize various HR processes.
- Immigration – Custom pricing. The company sponsors visas and handles immigration in 25 countries.
Reviews
Deel has a 4.6 rating on G2 and a 4.7 score on Capterra. Users like the customer service and interface but complain about time reporting and problems with payrolls and compliance.
Best talent management systems: Comparison table
Conclusion
Talent is a successful company's most valuable asset, and how you manage it is of extreme importance. Optimizing this process is not only advisable but unavoidable, and investing in a comprehensive talent management solution is the best way to achieve good results.
If you’re looking to level up your performance management, our Effy AI may be the answer. With its help, you can store important project and talent information in one place, simplify the feedback process, and automate various workflows. Want to try Effy AI out? Create a free account right now!
FAQs
Here are answers to some common questions about talent management tools.
What is the talent management system?
Talent management software refers to solutions that help organizations plan, develop, and retain human capital. They help optimize employee performance, learning, and development.
What is an example of talent management?
Talent management can include recruitment, training, mentoring, coaching, feedback, career development, succession planning, and recognition.
What are the components of a talent management system?
The talent management process has four main components: talent acquisition, talent development, talent retention, and talent optimization. Good software should help optimize them.
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