At SumTotal we have always believed in an integrated approach to talent development to increase employee engagement and workforce productivity. We are seeing more and more customers looking for a complete talent development solution, not just a learning platform or performance management product.
Here’s why: A new report from Ernst & Young (highlighted in Talent Management magazine) shows that by integrating talent management functions, companies are delivering better bottom-line results than companies with non-integrated solutions.
Ernst & Young found that companies that effectively manage talent consistently deliver higher shareholder value, which is not surprising. Companies that align talent management with business strategy deliver, on average, 20 percent higher return on equity, according to the survey. But more interesting is the finding that those that integrated their talent management programs delivered 38 percent greater returns than non- or partially integrated companies. This survey validates our view that by integrating learning management, performance management, and compensation management functions, companies have a far better chance of effectively aligning the workforce to business goals and delivering greater returns.
In the current economy, the last thing in the world businesses can afford is to waste talent, or be surpassed by competitors that manage their talent better. The ability to derive the most value from the workforce is critical to the success of any business. When employees across various departments and organizational levels aren’t operating from a unified strategy, it makes it next to impossible to come together to work toward common objectives.
SumTotal offers a complete, best-of-breed, unified and integrated talent development solution that is easily and flexibly deployed for proven reliability and lower cost. Our unified SumTotal Talent Development Suite makes the task of optimizing employee value easier.The suite integrates talent management functions to help companies reduce turnover at critical positions, manage succession plans, minimize business disruptions, and reduce the risk of non-compliance, litigation, and lost business reputation.
As the survey shows, an integrated solution can help companies make measurable improvements that ultimately increase profitability and operational efficiency. At SumTotal, we deliver solutions that help organizations develop and implement effective talent development. Companies that align talent management with business strategy and integrate across functions and platforms will deliver better bottom-line results.
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