Facing Challenges in Today’s Workforce Planning
When a crisis hits, it’s pivotal for organizations to have the right talent to mitigate immediate crises and prepare for unprecedented challenges. As the recent pandemic hit, many HR leaders were left scrambling to recruit, hire, and retain top talent to drive business forward. Amidst the chaos and uncertainty that came with COVID19, the pandemic has also created a tremendous opportunity for organizations to make changes to their workforce planning. With new trends like remote work, automation, and increased reliance on independent contractors becoming more prevalent, breaking down data silos between HR and Finance has become increasingly challenging when planning for the future.
For many companies who are still relying on Microsoft Excel for data entry and processing, it’s an extremely tedious and manually intensive process. Although a powerful tool, Excel provides limited visibility into enterprise-level data, creating an incomplete picture of an organization’s people and processes.
To streamline the workforce planning process and handle change with confidence, organizations need to consider leveraging SAP Analytics Cloud (SAC) combined with SAP SuccessFactors to their HR strategy.
In this blog, we will explore how this all-in-one solution can help you:
Break down data silos and gain transparency into your employees’ engagement and productivity.
Improve the hiring process by collecting, analyzing, and managing workforce data in a single platform.
Plan better by leveraging different what/if scenarios to change version management and enable HR and Finance to update their account planning on a more granular level.
Powerful Planning and Analytics from SAP Analytics Cloud
Predicting and meeting changing and unexpected business demands with confidence requires organizations to function as a well-informed unit. But equipping your team members with the right tools and data they need, as soon as they need them, can prove challenging.
Fortunately, SAP Analytics Cloud provides users with all the cloud analytics features they need, including business intelligence (BI), predictive and augmented analytics, and enterprise planning, all in a unified solution.
With the combined power of BI, predictive, and planning capabilities, users can leverage advanced analytics enterprise-wide and drill down on data for a deeper insight into the organization, enabling data-driven decision-making.
Revolutionary Human Capital Management
Without having a holistic view of your people, gaining a 360-degree view of your business would be merely impossible. SAP SuccessFactors, part of SAP’s cloud Human Experience Management suite (HXM) solution, delivers full transparency around employee experiences including their role, work style, motivation, and so much more.
Using SAP SuccessFactors, you can boost efficiency and engagement by closing information gaps between HR and employees. You can manage fluctuating talent demands with integrated software for recruiting, onboarding, performance, compensation, benefits, and development. The software allows HR to obtain data-driven insight into their workforce to understand trends and improve the overall workforce planning process.
The result? More dynamic recruiting process and engaged employees. Engaging employees means greater loyalty and retention and increased productivity for the organization!
An Integrated Solution to Future-Proof Workforce Planning
To safeguard and future-proof their workforce planning strategy, leading organizations are taking the best of both worlds. SAP Analytics Cloud connects people and data from multiple sources in a single platform to drive fast, confident decision-making. Coupled with SAP SuccessFactors, users can take advantage of rich visualization and reporting capabilities.
Let’s look at specific ways your investment in SAP SuccessFactors with SAP Analytics Cloud can improve your workforce planning process and its results:
1. Optimize the Hiring Process
The desire to streamline the process from recruitment to retention is on the top of every HR professional’s mind today. But making the process as easy and efficient as possible doesn’t simply affect HR and Finance – it has a direct impact on employees’ experience and satisfaction with the organization.
To enable data-driven decisions surrounding workforce planning, HR must have a real-time holistic view of its people analytics. With the powerful predictive analytics of SAC, HR can leverage data to detect patterns in traits and behavior and make smarter hiring decisions. Being able to identify top performers and recruit for candidates with similar traits will allow for HR to bring in more high-quality prospects. Moreover, by identifying patterns in hiring frequency, turnover rate, raises, etc., HR can make more accurate budget forecasts for future hiring.
2. Drive Strategic Value from HR Initiatives
To grow your HR team and budget, it’s critical to demonstrate to the company’s stakeholders the value you’ve created through department-wide efforts. SAP SuccessFactors makes it easy to turn any data into digestible and appealing visualizations to showcase key recruitment KPIs including total positions posted, number of applicants, and hires to date. Provide a deeper analysis into the talent pipeline, demonstrating the number of applicants per department, and solidify the true impact of HR efforts on overall business outcomes.
3. Create an Engaging and Delighted Workforce
To create a motivated and adept workforce, you must understand your people. But if you don’t have the right data, you could be missing out on significant patterns.
SAP SuccessFactors and SAC allow HR to conduct and analyze employee feedback surveys to identify key gaps and visualize specific trends impacting its workforce. Through predictive analysis, HR can identify and de-escalate issues before they arise, better analyze performance and accurately incentivize top performers, and ultimately, delight employees to continue to deliver business outcomes.
Stay Ahead of Your Competition with Integrated Software
An integrated workforce planning strategy helps you achieve end-to-end visibility and achieve a greater level of efficiency in workforce planning and budgeting.
The joint power of SAP SuccessFactors and SAP Analytics Cloud can help you:
Eliminate data silos between HR and Finance
Plan for shifting market’s demands with top-notch talent
Engage employees to create a better user experience
Equip your workforce’s ability to meet evolving challenges
More accurately predict capacity planning and headcount budgeting