In late September 2022, Talogy launched its first learning system with the AIM Learning System pilot program. Traditionally Talogy provides talent assessments; however, the software company has recently reached new heights by adding microlearning, virtual classrooms, and even digital escape rooms to increase engagement while developing employee skills.
Talogy unleashes AIM Learning as talent assessments grow
This launch is the latest in a string of new developments for Talogy, which rebranded from PSI Talent Management in March of 2022. Talogy has also added a series of acquisitions—Cubiks, EB Jacobs, Innovative HR Solutions, JCA Global, OPRA, Performance Assessment Network, Propel, Select International, and Solvably—bringing the total number of acquisitions up to 16.
With a majority of industry shakeups, it’s clear that major change is coming. But what exactly does it mean? Let’s look at the data to find the answers.
G2 shows the growing importance of talent assessment software
In examining G2’s data, it is clear that there has been a recent explosion of relevance for Talent Assessment Software. The amount of reportable reviews has grown from 201 in 2018 to 1379 so far in 2022. That’s a massive increase from the previous years.
While the number of reviews continues to rise, the number of months before a company sees a return on investment (ROI) is falling. While it took 13.93 months in 2018, the turnaround was much shorter in 2021 at 9.73 months before seeing a profit. So far, 2022 has seen that number increase, but it’s difficult to tell where this trend will continue, given that it’s only in October.
What does this show us? Well, for one, the number of reviewers has increased exponentially, indicating healthy growth in the talent assessment space. Secondly, the overall months to ROI are dropping, except for 2022 as a current outlier. Despite the one anomaly, organizations have gotten better and better at implementing talent assessments and making the purchases for the buyers work for them faster.
What’s next for talent assessment?
What was once an industry merely responsible for ensuring competencies ahead of hiring has turned into a burgeoning business of investing in talent. Finding not just individuals who fit a strict requirements list but people who will grow into the role, fit in with the team, and jive with the company culture is a contemporary priority.
This is to say that assessment tests aren’t going anywhere soon. Instead, they’ll continue to evolve in the complex ways they measure future employee success. In an increasingly competitive market, good talent is worth its weight in gold.
Edited by Jigmee Bhutia