PUBLISHER: QKS Group | PRODUCT CODE: 1637526
PUBLISHER: QKS Group | PRODUCT CODE: 1637526
This product includes two reports: Market Share and Market Forecast.
QKS Group Reveals that Talent Management Software (TMS) Market is Projected to Register a CAGR of above average by 2028.
A talent management application helps organizations optimize their talent experience and overall strategy by automating and streamlining various processes. It consolidates data from multiple platforms, such as application tracking systems, self-service portals, talent marketplaces, learning management systems (LMS), career hubs, and HR information systems (HRIS), into a centralized system. This centralization provides a comprehensive view of the existing talent pool and helps anticipate future needs and changes. The application ensures employees receive a consistent, personalized, and engaging experience tailored to their Key Result Areas (KRAs), Key Performance Indicators (KPIs), Objectives and Key Results (OKRs), career trajectory, performance reviews, succession planning, and skill development areas. By offering an insight-driven, journey-focused platform, the application enhances employee satisfaction and engagement, enabling HR teams to retain and develop top talent effectively.
Quadrant Knowledge Solutions defines a talent management application as "a comprehensive software suite that enables organizations to efficiently oversee their workforce by automating diverse HR functions such as recruitment, onboarding, learning and development, succession and leadership development, opportunity marketplace, performance management, compensation, engagement surveys, and analytics and reporting. Talent management applications are designed using a range of technologies, such as artificial intelligence and machine learning. The applications aim to simplify HR processes and enhance decision-making in the field of talent management."
QKS Group Reveals that Talent Management Software (TMS) Market is Projected to Register a CAGR of above average by 2028.
The talent management software market is experiencing growth due to several key factors. The increasing need for businesses to streamline HR processes and improve efficiency is driving demand for these solutions. Additionally, the growing emphasis on employee engagement and retention, alongside the need for effective succession planning, fuels market expansion. The rise of remote work and the consequent demand for digital tools to manage a dispersed workforce also contribute significantly. Moreover, advancements in artificial intelligence and data analytics enhance the capabilities of talent management software, making them more attractive to organizations seeking to leverage data-driven insights for better decision-making. Lastly, the increasing adoption of cloud-based solutions provides scalability and flexibility, further propelling market growth.