What comes to mind when you consider your business resources? Perhaps it is the capital you have at your disposal. Maybe it is the tech assets that drive your organisation forwards. Or it could be the infrastructure that supports your operations. All of these are key resources, but your personnel and your talent outshine all of this.
This is what makes talent management such a key consideration for modern businesses, which is why Talent Management modules from SAP SuccessFactors are so critical in achieving a competitive operational structure in the long term.
Key Benefits of Talent Management
We have put together some of the key benefits of an effective talent management strategy that can help your organisation.
Focus on Employee Development and Growth
Your employees need to be supported if they are to develop and grow over time. This means delivering the right tools, the right understanding, and the right training to employees in the field. Without this, your teams will still be able to do their jobs, but productivity and efficiency will suffer.
Talent management gives your business a way to keep on top of this ongoing development. With the insight derived from this kind of solution, training and growth become more straightforward. Upskilling opportunities are identified and capitalised on, while reporting and analysis assist with ongoing management of training and support.
Foster Engagement Among Employees
Talent management solutions are comprehensive and wide-ranging, covering all of your employees across each of your teams. However, conversely, this enables you to adopt a more personal approach to employee engagement and support.
With a talent management system handling the overarching data, you will be able to gain insight into individual employees. From here, you can provide the direct support and personal and professional goal-alignment that each individual needs to be fully engaged with and invested in your business.
This is critical for keeping hold of your team members, bolstering your business, and reducing the cost associated with hiring replacements.
Create an Effective Business Culture
Over time, talent management will begin to transcend the delivery of support and development. Rather than being a solution to help you to deliver this directly, it will become a cornerstone of your human resources strategy. In other words, high levels of employee support and engagement will become core elements of your business culture.
With talent management as part of your business identity, your productivity and agility will accelerate. This will help you to step ahead of your competitors.
Hire with Confidence
While a talent management system helps you to retain the talent that drives your business forwards, you can’t expect to keep hold of all of your personnel assets indefinitely. You will still need to hire new personnel eventually, and when you do, you need to be able to do this with confidence and decisiveness.
The solution will give you the data you need to achieve this. You will gain the insight required to identify where hires are necessary, as well as an understanding of the attributes you are looking for as you select and onboard new personnel. This is designed to remove much of the uncertainty from the process.
Improve Decision Making
The data insight achieved from a talent management solution goes beyond simply understanding your current teams and bringing in new hires to complement this. In fact, the system becomes a valuable data resource that will inform your strategies going forward.
With the reporting and analytical functions discussed above, you will be able to gain an accurate insight into how your business is performing and what needs to be developed or evolved. This data serves as fuel for decision-making and goal-setting, dramatically improving the efficiency of both.
SAP SuccessFactors Modules for Talent Management
The best talent management strategies are geared towards workforce optimisation. This means following the optimisation cycle of planning and outlining a strategy, identifying and acquiring talent, developing this talent, retaining team members and structures in the long term, and helping personnel assets to reach their full potential.
This is why increasing numbers of businesses are utilising the SAP SuccessFactors platform to achieve enterprise-level talent management. The platform features a number of different modules designed with this capability in mind.
Find and engage candidates from across the globe, identifying the hires that will benefit your business, and nurturing them in the right direction.
Treat candidates like client-side leads, fostering increased engagement and connection with your business. Then, deploy automation and workflow simplification capabilities to improve procedural efficiency.
eSignatures and digitised documents make it easy to secure new hires without the additional paperwork. What’s more, a user-friendly onboarding portal helps management teams analyse and monitor the whole process.
Onboarding and cross-boarding capabilities make it easy to bring in new hires and promote or move existing personnel into the optimal roles.
Performance and Goals
Support your employees as they set goals, and then deliver the required data to them so they can follow a proactive path towards goal achievement.
Performance reviews become more detailed and development-aligned thanks to the data from the solution. Meanwhile, action planning tools support better decision-making.
Compensation has always been an important aspect of human resource management. With the SAP solution, you will be able to set rewards and deliver recognition for your personnel and manage their remuneration in an accurate and effective manner.
You will also be able to model optimal compensation programmes and implement these on an ongoing basis.
Put compliance training programmes in place and deliver educational resources to personnel as and when required.
The solution will help you to foster a profound culture of learning and development at the core of your business identity. From here, you will be able to extend enterprise learning to meet evolving needs.
Succession and Development
Manage the career paths of your employees, conducting talent reviews, and implementing calibration tools that help the right employees develop into the right roles.
Eliminate talent gaps in key roles by fostering an efficient pipeline of talent development.
Sales Performance Management
Sales Performance Management modules — such as SAP Commissions, SAP Territory and Quota, and SAP Agent Performance Management — assist your business as you keep on top of the performance of your teams in the field.
Put SAP SuccessFactors to Work for Your Business
Your team members are key resources for your business, and managing this resource is critical to your success. With SAP SuccessFactors’ Talent Management modules, this not only becomes easy to achieve but becomes a vital part of your business’s structure and identity.
Let’s begin. Reach out today and speak to our friendly and knowledgeable team of SuccessFactors experts. Together, we can optimise your teams and achieve formidable flexibility and capability.