As resources become increasingly scarce, organizations must invest in the right tools to effectively oversee the development and performance of their most important asset, their employees
Mountain View, Calif. (PRWEB) July 27, 2010
With workloads expanding beyond one's typical job responsibilities as a result of the economy shifting organizational roles, it's easy for talent management to get pushed to the back burner until July and December when mid and end-of year performance reviews are due. While it might not seem like an immediate business imperative, properly managing an organization's talent through regular performance monitoring and the identification of learning opportunities are essential for helping employees' achieve their maximum potential on a daily basis, which increases productivity and ultimately impacts the bottom line.
"As resources become increasingly scarce, organizations must invest in the right tools to effectively oversee the development and performance of their most important asset, their employees," said John Borgerding, President of SumTotal Systems. "Newly developing talent management technologies can help HR executives navigate today's challenge of aligning talent development initiatives to an organization's business goals so that talent isn't misused or wasted. These solutions help improve communications, streamline processes and drive a performance-driven business culture."
Bersin & Associates' 2009 Talent Management Factbook reported that organizations with superior talent management experience 26% higher revenue per employee and a 40% lower turnover among high performers. The study also cited that companies embracing effective talent management strategies have a greater ability to hire the best people, develop great leaders, respond to changing economic conditions, and plan for future workforce needs.
Similarly, an Ernst & Young report from May 2010 found that companies that integrated their talent management programs delivered 38% greater return on equity than companies with non- or partially integrated programs, while companies that aligned talent management to business strategy experienced, on average, a 20% higher return on equity.
Implementing an integrated talent management solution that gives organizations the ability to track employee performance on a project basis throughout the year, which can in turn help identify skill gaps and needed learning development, allows for a more holistic view of a workforce. SumTotal is committed to providing solutions that offer a unified approach to talent development – incorporating performance, learning and compensation management – so companies can optimize employee value in a more streamlined and cost-effective manner.
About SumTotal Systems, Inc.
SumTotal Systems, Inc. is a leading provider of proven talent development solutions that automate and integrate learning, performance, and compensation management to drive business results on a daily basis. Our solutions strengthen and develop employee skills to accelerate time-to-market, close skill gaps, and reduce the risk of business disruptions. With more than 1,500 customers and 18 million users worldwide, we have increased the performance at some of the world's best-known companies, organizations and government agencies. Our category leadership and applied insight help us understand the critical success factors for businesses of all sizes. For more information, visit http://www.sumtotalsystems.com
SumTotal and the SumTotal logo are registered trademarks or trademarks of SumTotal Systems, Inc. and/or its affiliates in the United States and/or other countries. Other names may be trademarks of their respective owners.
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