Using marketplaces to extend your HR software
August 15, 2018
Finding the right talent management solution isn't easy— over $14 billion HR software and platform marketplace is saturated with products. Sorting through solutions and comparing them to determine the best fit for your organization can be daunting and time-consuming.
Today, there are many point solutions and best of breed tools available, but it takes effective integrations and APIs to glue the pieces together seamlessly. A marketplace enables companies to compare and purchase third party tools and solutions that’ll integrate with their existing solution, thereby expanding it to create a custom-fit talent management suite, complete with a multitude of business capabilities under one unified experiences. Here’s more on how marketplaces are improving the ways that companies select and purchase talent management solutions.
Today, there’s an overwhelming number of available talent management solutions out there, but how can companies determine the best tool for their needs?
In a marketplace environment, buyers can visualize all the possibilities and make an educated decision after comparing them based on price, functionality and integration compatibility.
Increased Insight into Integration
One of the biggest problems with early talent management solutions was that different systems weren't housed under a single platform. Modern human resources software now exist under one roof—they have prebuilt integrations and more flexible APIs that allow companies to connect software with applications that fit their specific needs, from vendor-specific tools to third-party applications such as Workplace by Facebook.
These integrations are simple to configure and manage, and can grow with an organization as its future needs evolve and change. But how can you tell if your existing technology will integrate with a new tool that you're considering? An effective marketplace can delineate which solutions integrate with others. With the right integration, data can then be collected and stored, providing learning and development leaders with access to real-time insights.
Access to Next-Gen Talent Management Apps
Often, HR teams may not even be aware of a functionality that they may want to add to their existing talent management arsenal until they're introduced to it while browsing through a marketplace. But expanding your solution ecosystem could pay off when it comes to employee engagement.
For example, technology from HR software vendor Broadbean, which allows a company’s applicant tracking system to post to multiple job boards simultaneously, could be a solid addition to your existing solution and enable a more productive and engaging work environment for your HR team. Marketplaces provide an opportunity to "window-shop" and browse through completely new types of tools.
Moreover, the HR software marketplace of today gives organizations the flexibility to create a talent management platform that aligns with specific business goals, meets the needs of the modern employee and is simple to implement, update and manage.
Check out how you can expand your Cornerstone solutions with third-party apps—explore the Edge Marketplace today!