SuccessFactors: Human Capital Management on Cloud

SuccessFactors??

Align, Optimize and Accelerate! Your business will become a success says, SuccessFactors, an SAP company. The company provides a cloud-based SuccessFactors HCM suite that includes a complete set of integrated talent management solutions, robust workforce analytics and planning, and also a next generation core HR solution. Today’s challenging business environment demands more agility and ability to quickly develop strategies and effectively execute them. According to a recent Harvard Business review study, 40% of companies’ strategy fails because of poor execution. It is people who actually execute the strategies, so, it is important for businesses to empower and optimize their workforce. SuccessFactors comes with a solution that improves executive insight and decision-making while ensuring you have the right people with the right skills doing the right work.

Solutions offered by SuccessFactors HCM suite:

Together, SAP and SuccessFactors have established an advanced end-to-end offering of cloud solutions for Human Capital Management. The SuccessFactors HCM suite includes:

  • Employee Central: This component encompasses Employee, Organizational and talent data, giving better and faster results.
  • Recruiting: Attract, engage and select best candidates, measure their results and thereby transform recruiting into a continuous, strategic part of your talent strategy.
  • Onboarding: By guiding hiring managers and empowering new hires, this component makes Onboarding a strategic process that improves job satisfaction, productivity and first-year retention.
  • Performance and goals: Communicate strategy; create meaningful individual goals across the organization. This component enables executives to monitor goal progress in real time.
  • Compensation: This drives better compensation decisions with objective ratings, helping you retain the top talent and achieve increased productivity.
  • Succession and Development: This component helps you in times of staffing changes, ensuring readiness of employee talents at all levels. Also, helps in continuous development and career planning.
  • Learning: Now develop a comprehensive learning strategy using Learning Management Solution (LMS) that lets you manage, develop and deploy instructor-led, formal and social online training. You don’t have to manage the infrastructure, bandwidth, delivery, security and updates for your e-learning programs as Content-as-a-Service (CaaS) completely eliminates the need for it.
  • Workforce Planning: Leverage in-depth workforce information and benchmarks in order to assess readiness to execute strategies, forecast the impact of business decisions, mitigate risk and take action.
  • Workforce Analytics and Reporting: Using the talent and business data, you can deliver actionable and quantifiable insights to your business leaders. This component acts as a catalyst for positive changes in the business.

Why SuccessFactors??

A research done by top 3 consulting firms revealed that on an average 3% increase in the revenue to top-line profit, a 15.2% decrease in the employee turnover and a 65% improvement in employee engagement were seen after implementing SuccessFactors HCM suite. According to Gartner Inc., SuccessFactors is the clear market share leader in the talent management and business execution solution. In addition, it is also recognized as the leader in a new category called business execution software or BizX. With its complete Talent Management Suite, BizX lets you deliver, measure and continuously improve your business results through people, everyday, filling the gap between strategy and execution. As SuccessFactors HCM suite is a cloud-based solution, implementation is a breeze and takes an average of just 84 days. With its transparent subscription and implementation model, it allows people to end their subscription if unsatisfied and provides automatic updates for the existing users. As this is a cloud-based solution, one doesn’t need to install hardware, thereby eliminating the need for technical assistance. Plus, you can download and retain all your data even if you decide to end the subscription. Why waste money on expensive hardware? This user-friendly, on-the-go cloud solution can make your business a great success.

Samuel

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