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(IT-NEWSWIRE.COM, March 06, 2018 ) According to Publisher, the global talent management market to grow from USD 6.46 billion in 2016 to USD 17.57 billion by 2023, at a CAGR of 15.37%. The year 2016 has been considered as the base year, while the forecast period is up-to 2023.
Talent management software refers to the wide array of integrated applications that human resource management (HR) professionals use for recruitment, performance management, training & development, and compensation management of employees. Talent management software plays a very important role in keeping track of individual employee from the date of hiring to the complete employee lifecycle in the organization. The talent management software has facilitated HR professionals to play a pivotal role in employee engagement and retention. HR professionals can pull all the data and run analytics to optimize employee engagement strategies and bring more value to the company.
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The major forces driving the growth of the talent management market include the better professional development decisions and improved onboarding experience. Moreover, high performing workforce and commitment to align business strategy are also some of the factors that are driving the market growth. However lack of awareness, and budget constraints may hinder the market growth. In the middle of difficulty lies opportunity such as the unified integrated system for performance assessments, and need for big data analytics and cloud-based talent management system. The possible challenges for the market growth are a holistic talent management approach with involvement of top management, and lack of skilled talent. But key players in the market are overcoming the challenges with continual improvement and innovation.
Based on industry, the global talent management market is studied across aerospace & defense, banking, financial services & insurance, consumer goods & retail, education, energy & utilities, government, healthcare & life sciences, information technology, manufacturing, media & entertainment, telecommunication, transportation & logistics, and travel & hospitality. Based on geography, the global talent management market is studied across Americas, Europe, Middle East & Africa, and Asia-Pacific.
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Key Players:
Avature Talent Management Suite
Cornerstone OnDemand
Crelate Talent Software
Halogen TalentSpace
IBM Kenexa Talent Acquisition Suite
Lumesse Talent Management Suite
Oracle PeopleSoft
Oracle Taleo
SAP SuccessFactors Talent Management Suite
Saba Cloud
ReportsWeb.com
Rajat Sahni
+1-646-491-9876
sales@reportsweb.com
Source: EmailWire.Com 
Source: EmailWire.com
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