Oct 15, 2023
5 min read

5 Best Talent Management Systems to Unlock Employee Potential

In this article:

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.

Effy AI

talent management systems

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.
Effy AI pricing

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.

Talent Management Systems Effy AI Review

Lattice

Talent Management Systems 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.

Best Talent Management Systems Lattice Review

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.

Talent Management Systems Lattice Review

Rippling

Talent Management Systems 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.

Talent Management Systems Rippling Review

Image source: Capterra

Leapsome

Talent Management Systems 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. 

Talent Management Systems Leapsome Review

Deel

Talent Management Systems 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.
Talent Management Systems Deel pricing

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.

Talent Management Systems Deel

Best talent management systems: Comparison table

Platform Features Pricing Best for
Effy AI Powerful analytics
AI-generated insights
Science-based templates
Reviewer nominations
Participants selection
Feedback in Slack/MS Teams
Customization
Free plan available Small and medium-sized businesses
Companies that run performance reviews once or twice a year
Lattice Performance
Compensation
Analytics
OKRs & Goals
Career Development
Engagement
Starts at $4/person/month Large companies
Leapsome Reviews
Goals
Surveys
Learning
Compensation management
Competency framework
Instant feedback
Meetings
Leapsome AI
No information Large companies
Deel Hiring
Onboarding
Reporting
Payments
Referrals
Connections
Pulse surveys
1-on-1s
Free, then starts at $49/month for a Contractors package Multi-national companies or businesses that hire worldwide

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.

What’s Effy software?
Performance review
Easily launch review cycles in your way, track progress.
360 degree feedback
Collect feedback from peers and managers. Identify strength and improvements areas.
Templates
Choose templates that are right for you. Start review process in 15 min.
1:1s
Collaborate effectively with team meeting agenda, action items and meeting notes
Personal development plan
Develop your people by providing them an explicit plan to the next level. Track goals progression.
AI generated insights & Analytics
AI will generate an extended summary for every employee, including top strength, areas to improve and action plan.
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