Simplify your Compensation Strategy with SAP SuccessFactors Compensation management
Today’s fast-moving world needs a compensation method that consumes less time with reduced labor effort. Traditional compensation methods don’t allow to test different budget scenario quickly as they use multi-thousand line spreadsheet. These spreadsheets will be labor-intensive and waste lots of time without doing any collaboration. SAP SuccessFactors compensation gives an intelligent and flexible way to model compensation plans that align with the HR goals and business strategy. SAP SuccessFactors compensation management makes the compensation process simpler and easier with the following features:
1.Automated Compensation Process
SAP SuccessFactors compensation management automates the compensation process which in turn reduces the administrative workload and helps the organization to become more strategic. In addition to that, SAP SuccessFactors checks whether the workforce is paid consistently and competitively with employee performance. Thus, it supports organizations to have well-informed design plans by providing recommendations for adjusting guidelines.
2.Faster and Effective Compensation Model
As compensation management became an expensive part of the organization, it is really important to build an effective compensation program.SAP SuccessFactors helps organization to invest the money in the right place to support both HR and business strategy.It also adjust the compensation model with real-time changes and analyzes the impact very faster just in a couple of seconds. On the other hand, To do the same process the traditional methods will take hours or even weeks to complete.
3.Configurable and Less Complex Methods
SAP SuccessFactors compensation management provides more configurable worksheets and workflows to replace e-mails and spreadsheets reducing the difficulty of maintenance. Instead of complicating with huge chunks of data scattered in the spreadsheet, SAP SuccessFactors automates the compensation method. This simplifies the entire maintenance process involved in the organization. It then stores and maintains these compensation worksheet data until it is purged by the customers. By this way, SAP SuccessFactors compensation management reduces the complexity of record storage from the administrators.
SAP SuccessFactors gives an integrated and comprehensive approach to overcome the errors and incorrect payment process. SAP SuccessFactors integrates its compensation management with HR information systems to make sure that the disparate compensation process is always in sync to identify the top performers.
Thus, SAP SuccessFactors compensation management simplifies the entire compensation model of an organization. This gives organization a smart approach to identify the top performers and reward them with more transparency. To know more about SAP SuccessFactors Compensation Management System, download our whitepaper which encloses the way to “Make your Compensation Management a motivational key to drive business results”.