Talent management software is a workforce management tool that includes performance management, strategic hiring, and employee development. It helps employers track and manage their personnel by creating targets, finding and closing skill gaps, providing tailored development plans to employees, and conducting appraisals. It provides employers with tools with which they can manage, analyze, and reward employees based on their performance. This helps firms establish a culture of career growth and increase overall employee performance. As a result, it is extensively used in the BFSI, healthcare, IT, retail, and manufacturing industries.