HR Professional - April/May 2008 - (Page 30)

FEATURE ‘‘ To understand the true cost of a TMS, you talent management costs and build your good indicator of TMS success, particularly in terms of the variety of products and length of use in a particular market. The best systems have 90 per cent customer retention rates and those customers often add modules over time. In a good client-vendor relationship, all parties must be able to give and receive open feedback. Over the past 10 years, there has been much consolidation among TMS providers, reducing the number of companies offering very similar products. Also, some of the largest companies have changed their names, including Taleo, formerly RecruitSoft and Vurv, formerly RecruitMax. Taleo is expanding beyond recruitment by offering a new performance management module, while Vurv now has an entire TMS suite. The large European players, such as JobPartners and MrTed, have built their software as service models on talent management and are poised to make a major impact in the North American market. These European firms are the ones to beat for service and system functionality because they have been operating globally for a number of years, learning from multinational customers where they need to make improvements and where they are adding value. they optimize their use of web-based HR systems. Choosing a package Beyond checking references, customer renewal rates are also a HIRE AN ABC (Accredited Business Communicator) > The experience, expertise and abilities of ABCs bring global best practices to organizations. > An ABC stands for competence, trust and commitment. > When you hire an ABC, you get “experience that delivers.” > Advertise on CareerLine, Toronto’s best recruitment resource for professionals in the ﬁeld of communication. http://toronto.iabc.com Ph: 416-968-0264 • Fax: 416-968-6818 30 A p r i l / M a y 2 0 0 8 365078_IABC.indd 1 2/11/08 3:13:53 PM Getting buy-in During the evaluation phase, it is often easy to gain support for a TMS—until the cost is clearly identiﬁed. A $1 to $2 million price tag, which scales down annually after one year, can seem expensive. It’s crucial that this investment be considered from the amount and speed of the returns it can bring. A reduction in time to ﬁ ll, reduced turnover through better screening of new hires, evaluation of internal employees for development and succession planning purposes, and an overall reduction in the cost per hire are important metrics and can HR P R OF E S S I ON A L http://www.toronto.iabc.com

Table of Contents Feed for the Digital Edition of HR Professional - April/May 2008

HR Professional - April/May 2008 Contents Editor's Letter Contributors Leadership Matters By the Numbers On the Web Careers World Watch Accounting Health & Safety Foreign Professionals Management Office Life Legal Compensation Web 2.0 @ Work Talent Management Systems On Message Strategy HR 101 Interview With Colin Mackay Off the Shelf The Last Word

HR Professional - April/May 2008

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