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5 Talent Management Tools for Small Businesses

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In today’s technologically advanced world, software tools have become an important part of a business’ success. You can take your workforce to the next level if your business is equipped with the right management tools for your business.

How do you choose the right software tool for your business? Here are a few basic tips you can implement:

  • Evaluate the needs of your business. Before anything else, figure out why you need a management tool and where your business most needs it.
  • Preempt challenges that come your way. When implementing a software solution, expect to come across a few challenges along the way, such as integration, budget constraints, and employee pushback. By anticipating these obstacles, you can plan your strategy accordingly.
  • Assess your situation. It’s important to have a timeline, budget, and a list of your business’ needs as you look for the perfect software solution.

Once you’ve assessed your situation, evaluated your needs, and preempted challenges, you can now begin your search for a talent management tool. Here are some of the best software tools for small businesses:

  1. AssessTEAM

If you’re looking to conduct employee reviews, you might want to check out AssessTEAM. It’s similar to a traditional approach to performance reviews; it even comes with a look like the paper-based employee evaluation forms businesses use back in the day. But that’s not what makes AssessTEAM attractive. People opt to use AssessTEAM because of its low price, which starts at $1/month/employee.

The $1/employee contains the features of a standard package, such as performance reviews, 360-degree feedback, goal setting, integrations with other software, and reporting.

  1. UltiPro

From recruitment to benefits (and more), UltiPro aims to improve the overall employee experience. Some of UtliPro’s features include scheduling, performance, compensation management, payroll processing, as well as learning tools.

You won’t be able to view their pricing on their website but it’s available upon request. Some reports say that UltiPro’s SaaS model is priced at $600 annually for up to five users.

  1. Saba

Saba is a cloud-based talent management software that focuses on recruitment, performance, compensation, planning, learning, and succession. Saba analyzes your business’ data and then issues personalized recommendations for managers. Pricing for this software is not available for the public, but you can submit an RFP for more information about Saba.

  1. Small Improvements

Small Improvements is another management tool that enables you to customize it to your business’ look and feel. This promotes a strong foundation for performance management and encourages your employees to become more involved in the process. Small Improvements is a great tool if you need a talent management tool while improving your employment brand.

  1. Oracle HCM Cloud

The Oracle HCM Cloud equips your employees with the information they need to become engaged, strategic, and adaptable. You can integrate the Oracle HCM Cloud with other business tools, such as ERP and business intelligence. The price starts at $8/month/employee for the full HCM cloud system.

Are you looking to take out a loan to fund your talent management software? SMB Compass can help! We can help your business secure the funding it needs for growth and expansion. You can contact us by phone at (646) 569-9496 or email us at info@smbcompass.com.

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