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5 of the Best Talent Management Tools for Small Business


Minyang Jiang

Software tools have become critical to a company’s success across departments – and HR is no exception. The right talent management solution can take your workforce to a new level of productivity, professional development, and leadership.

The trick is exactly that – choosing the right software tool for your HR setting. Here are a few basic tips for choosing the best fit for your organization:

  • Evaluate your needs. Before even beginning your search, outline why and where your organization most needs a talent management tool.
  • Assess your position. Have a clearly defined timeline, budget, and list of needs (see above) as you start your search – this way you’ll have a short list right off the bat.
  • Anticipate challenges. No software solution can be implemented without seeing at least a few hurdles. Look for where these ahead of time so you can plan accordingly. Budget constraints, employee pushback, and integration are all prime examples.

If you’re looking for more specific suggestions, you’re in luck. With the help of TrustRadius’ ratings and reviews, we list the 5 best talent management tools to get you started in this process.

#1: UltiPro

The goal of UltiPro is to improve employee experience, from recruitment to benefits and beyond. The specific uses of UltiPro include payroll processing, scheduling, performance and compensation management, and learning tools.

Pricing is available by request, but some reports indicate that the SaaS model starts at around $600/year for up to 5 users.

#2: Workday HCM

Workday Human Capital Management helps companies organize and equip large workforces with self-service features. The HCM system includes tracking and analytics for essential workforce management elements, including pay and promotion, leave, bonuses and equity. The cloud-based software is considered scalable for companies of all sizes.

Pricing is based on each individual employee, which runs around $100-$200 per year.

#3: Oracle HCM Cloud

This Oracle solution to talent management aims to give leads all the information they need to become strategic, engaged and adaptable to their specific settings. The selling point is the connection between HCM capabilities and broader business tools, such as ERP and business intelligence. This may be a good fit for larger enterprises.

Pricing is based on a specific feature set and priced per employee. The starting point for the full HCM cloud system is $8/mo. per employee.

#4: Saba

Saba is a cloud-based talent management solution with six areas of focus in the apps: recruiting, learning, performance, compensation, succession and planning. The machine learning element of the system translates into personalized recommendations for managers.

Pricing is not publicly available, but managers can submit an RFP for more information.

#5: Cornerstone OnDemand

Cornerstone OnDemand is designed as a cloud-based one-stop shop for recruitment, training and management tools. Core features include onboarding, learning experiences and content, compensation and succession planning, workforce analytics and benchmarking.

The vendor has a pricing calculator for users to get an easy estimate based on included features and number of users.

Author Bio:

Taylor McKinney is a Marketing Specialist and writer. When she is not writing about the latest tools and small business trends she is enjoying Austin’s beautiful scenery with her family.