Your employees are the core of your business, making human capital management a key component to success. Companies that implement modern solutions for Human Capital Management (HCM) find it easier to improve nearly every area of their organizations, from top management all the way down to the bottom line. Why? Because HCM lets you make better use out of your most valuable resource—people.
One HCM suite we’d like to focus on today is SAP SuccessFactors, which allows organizations to control all of their HR processes, from recruiting new candidates to nurturing seasoned talent. This article will cover the features and benefits of SAP SuccessFactors, as well as how you can implement the solution. But first, here’s a little background about the tool.
What is SAP SuccessFactors?
SAP SuccessFactors is a provider of cloud human experience management (HXM)—a new term for HCM that SAP considers more “people-focused.” The HXM suite enables companies to find, train, and manage their workforce, as well as combines feedback with operational data to better understand how people feel.
Originally founded in 2001 and acquired by SAP in 2012, SuccessFactors’ acquisition was considered an opportunity to bring existing cloud expertise to SAP’s portfolio. Today, SAP SuccessFactors is one of the largest providers of cloud-based HCM software in the world. It’s used by businesses of all sizes and currently has more than 7,000 customers around the globe. It consistently ranks at (or close) to the leader position in talent management vendor ratings from analyst firms like Gartner, Forrester, IDC, and Nucleus Research.
Features of SAP SuccessFactors
SAP SuccessFactors is made up of several modules you can select and build out based on your company’s specific needs. Those modules include:
- Employee Central—The core of data and information about employees, including employee self-service, organizational management, time tracking and attendance, and global benefits administration.
- Performance and Goals—The basis for measuring employee performance and progress in real-time.
- Compensation—A tool for establishing a pay-for-performance culture that will help retain top talent and increase employee productivity.
- Learning—A platform to implement training, along with mechanisms for assessing results and progress for better performance.
- Recruitment—A tool for organizing the recruitment process, so that it can be handled efficiently and effectively.
- Succession and Development—Manage your employee’s development by creating plans to build their competencies and identify/fill talent gaps within your organization.
- Onboarding—A system for bringing new employees into the company through an easy, automatic, and personal process.
- Analytics and Reporting—A tool for delivering actionable, quantitative insights to your business leaders with a combination of talent and business data.
Benefits of SAP SuccessFactors
We’ve covered the history and features of SAP SuccessFactors. Now, it’s time to cover the advantages of the tool. Here are some of the top benefits customers experience:
Enhanced User Experience
The intuitive interface is attractive and easy to use for users. Plus, employees can access it from all platforms, including mobile.
SuccessFactors can scale as your company grows, so if you start to increase your employee size, you don’t have to worry about bringing on new hardware or undergoing a major expansion. All you need to do is purchase new licenses.
SuccessFactors not only provides comprehensive support for HCM end-to-end processes, it also integrates with SAP and a variety of third-party external systems to enhance your setup, no matter what your particular setup looks like.
Lower IT Costs
Because SAP SuccessFactors is a cloud solution, you can consume the technology as a subscription. That means faster implementation, lower investment costs, no maintenance fees, or upgrade projects.
Work with an SAP SuccessFactors Consultant
SAP SuccessFactors ensures you have the right people, with the right skills, doing the right work. Ready to get HR done right?
Our US-based SAP consulting team can partner with your organization to seamlessly implement SuccessFactors, or any other SAP project you might be having trouble with. We understand the challenges of human capital management and how utilizing the right tools can bring tremendous benefits to a company. Contact us today to get your project started.