Legend has it that the CEO of an ERP software company used to count cars in the parking lot at the end of the day to measure employee engagement. Just like the outmoded technology of ERP for managing people, the archaic concept of face and desk time no longer equates to productivity.

Today’s workforce is more mobile, socially networked, cloud computing based, and faster than ever before. Talent management software as a service mirrors this fundamental change in how we work.

Much like assessments deliver higher quality of hire than gut feelings, studies are a much better gauge of engagement. Hard performance numbers in the form of key performance indicators provide a higher level of insight. Talent analytics delivered in real time on dashboards and performance reports paint a more accurate picture of workforce quality.

Executive leaders in companies of all sizes now can benefit from aggregate performance information with a drilldown capability. HR and line managers can determine the best sources for top candidates, top performers, and overall process performance.

They should also take the advice of those that practice superior talent management and achieve #1 on Fortune's list of Best Companies to Work For. As SAS Institute’s CEO Jim Goodnight says: "My chief assets drive out the gate every day. My job is to make sure they come back."

Your executive leadership should be counting on retention, analytics, and studies instead of counting cars.