Businesses from different industries and scales all have one thing in common, the urge to run and grow their businesses. However, to run and operate at a decided pace, every business requires the correct human resource or human capital, making them essential. This is the reason that companies have to ensure effective recruitment, as well as management of the human capital. However, ineffective recruitment and talent management can lead to a shortage of skills in the business.
As evident as it can be, organizations from around the globe are looking for ways to enhance and automate time-consuming HR processes. But only if there was a solution to ease the management of human resources and facilitate effective recruitment.
Interestingly, you don’t have to worry any longer as there is a solution to take care of these issues without much hassle. The SAP SuccessFactors HCM Suite is one of the best HR solutions that enable businesses to manage their talent pool effectively.
Without wasting any more time, let us dig deeper and see what SAP SuccessFactors has to offer.
The Genesis of SAP SuccessFactors
Founded by Lars Dalgaard in the year 2001, SuccessFactors started as a Software-as-a-Service (SaaS) used to manage the performance of employees. Eventually, the solution began to grow by providing organizations with business execution software. This continued until SuccessFactors was bought by SAP in 2012, and the company was renamed SAP SuccessFactors.
This acquisition brought together the cloud expertise of SAP and the human resource management capabilities of the SuccessFactors. Initially, the solution was brought in as integration to enhance employee engagement and decision-making in the cloud. Employees mainly used SAP SuccessFactors to discuss problems and come up with a solution through effective collaboration.
SAP SuccessFactors continued to get better with time as it stretched its offering to bring together unique features such as onboarding, recruitment, and workforce analytics. SAP SuccessFactors includes an employee central service centre, functionality updates for mobile Android and iOS applications, and an improved recruiting solution. Aside from that, SAP SuccessFactors now has a new user experience based on SAP Fiori and enhanced architecture.
Integrated Modules of SAP SuccessFactors
SAP SuccessFactors accommodates various integrated modules to provide organizations with features and functionalities to manage human resources effectively. On the other hand, businesses can start with any of the modules and add more modules as needed.
- Employee Central: This is a cloud-based Human Resource Information System (HRIS) that helps organizations in various ways. The primary functionality is to automate the HR management processes and foster better relationships with employees and business partners, ensuring adequate compliance with all the regulations to ensure the well-being of employees. In addition, organizations can boost their productivity through this module and maintain all processes with preemptive notifications and alerts.
- Compensation: The compensation module enables businesses to build and manage premeditated compensation processes that fulfil the needs and requirements of employees and the budget and business. Furthermore, companies can simplify compensation planning for employees by automating all the processes concerned with it. Centralizing the management of employee compensation can further help the direction make well-informed decisions regarding the settlement.
- Recruitment: This module is handy for businesses as it helps them hire the right talent and enhance the growth of the business. Leveraging the improved capabilities of cloud-based technology, companies can recruit the best talents dynamically. The recruitment module has the potential to transform the entire process of recruiting talents.
- Goals and Performances: Businesses often use this module to evaluate and recognize the best talents within the organization. It is also used to set up goals and targets for employees to motivate them to do better at their job. This module is very beneficial for businesses as it helps them to manage all employees with more dedication.
- Learning: SAP SuccessFactors’ learning module has many unusual features that might assist businesses in motivating employees to keep learning and improving their skills. Organizations may create unique learning experiences to get more employees to participate in training programmes. Furthermore, tailored learning content may be selected to enhance student engagement.
- Workforce Reports and Analytics: Get access to accurate metrics and analytics and make better decisions to ensure the welfare of employees while also boosting their productivity. These reports and analytics can help businesses determine and forecast trends within the workforce. Organizations can even filter and segment the metrics in a way that makes them easy to comprehend.
- Development and Succession: This module is very beneficial for businesses as it helps them to retain the talents that will help enhance the growth of the business. Providing the right roles to the right employees will benefit both employees and the organization. In addition, these development schemes can help employees gain more skills and prosper in their careers.
- Onboarding: Leverage process and supporting systems to hasten the onboarding of employees. Grow the talent pool and retain talented employees through a single comprehensive solution. All in all, SAP SuccessFactors makes onboarding a strategic process that enhances the retention of employees, job satisfaction, and overall productivity.
Employees have always been a company’s most valuable asset, and increasing employee engagement and cooperation has never been more critical than it is now. In addition, it is crucial to guarantee that workers develop with the company; otherwise, retaining exceptional individuals who contribute to the company’s success would be difficult.
As per various SAP implementation companies, talent management will gain more and more significance with time. Businesses will have to put in more effort to retain and attract the best talents in the industry to drive the growth of businesses in this competitive environment. Most importantly, differentiating between the good and bad employees is the key to growth, as wasting resources on an employee not contributing much to an organization might not be worth it. SAP SuccessFactors implementation can help a business go a long way to manage and retain the right talents.