Like time and tide, technology waits for no man. The ever-evolving world of technology provides solutions at a dizzying rate of speed. What was cutting-edge a year ago may be considered antiquated by today’s standard.
The issue that arises because of this constant evolution is that companies are often confused as to when and how to upgrade legacy talent management systems for new technologies. Admittedly, it is ineffective cost-wise to continually abandon old technology in favor of the new.
Fortunately, however, there are usually signs that help you decide when an upgrade to your talent management system is needed. Here are a few for your consideration.
Your Team is Frustrated by The Inefficiency of Your Current System
Does your talent management software play well with other technologies you are using? Or does your team spend hours each day manually entering duplicate information from one system to another?
Trish McFarland, Vice President of Human Resources Practice and Principal Analyst, Brandon Hall Group, observes that “One of the most prevalent complaints I receive from HR leaders involves having applicant tracking systems that do not interface with the HR system. This one inability creates hours of re-entering candidate data when they are hired.”
This type of duplication of work is inefficient, costing your company time and money all day long, every day. It also increases the possibility of manual entry errors, something your team needs to avoid from a risk management perspective.
If your team is still using Excel as a workaround for deficiencies in your current talent management software, it is time for an upgrade.
You Cannot Capture the Metrics You Need
In order to function correctly for today’s competitive talent management climate, your software must be agile. You need to be able to capture important KPIs quickly and make adjustments as needed to attract and retain top talent.
The article “When to Upgrade Your Applicant Tracking System” has this to say: “Have you or your CEO ever wanted to know applicant conversion rates, how long it takes to review resumes, or other key metrics at a glance? A modern ATS gathers, stores, and reports powerful analytics to help you pinpoint bottlenecks in your hiring process. From employee referrals to recruitment marketing, all your information is trackable and therefore, available to optimize.”
If your talent management software does not give you real-time information in key areas, it is time for an upgrade.
Your Talent Management Software is not Mobile and Social friendly
This is a huge red flag that you need an upgrade. The reality is that today’s candidates are interacting via mobile devices. If your software cannot accommodate the growing role of mobile in applicant tracking and talent management, make no mistake: You will miss out on top talent.
Similarly, your talent management software needs built-in social tracking capability. Since you are likely recruiting on social platforms, your TMS must be able to pinpoint where your top candidates are on social media so you can focus your recruiting efforts in the right place at the right time.
Your Internal Processes are Lagging behind The Current Need
Things change. Perhaps when you chose your legacy system, it was perfect for your existing needs. However, an honest, comprehensive review of your current needs may reveal that you are in serious need of an upgrade.
If your current system does not enable things like email integration to streamline the recruitment communication process or integrate with social platforms like LinkedIn to facilitate the application process, it is time for an upgrade.
The Bottom Line
While it may be tempting to drag your feet about upgrading your talent management software, the reality is that upgrading can net you some big advantages. It can help you streamline your processes, saving all-important time and money. It can help you capture metrics that can inform your future talent management strategies, and facilitate talent acquisition and retention.
Could you use an upgrade? Contact us today for help with an assessment to determine if and how an upgrade to your system can benefit your business.