Monday, 25 July 2016

An Enterprise compensation Management Strategy

An enterprise compensation management strategy is very crucial for dealing with the rapidly changing business environment and also for making the most of human resources in the best – and also the worst – of economic times. The SAP Sucessfactors ERP Human Capital Management (SAP ERP HCM) solution provides a thorough and complete solution for all enterprise compensation management, budget handling, long-term incentives, compensation administration, reporting and job pricing.

As Enterprise Compensation Management is a very new module and it is very different from that of the old Compensation Management, a complete new implementation is always recommended. This can be skillfully done by standardizing processes as far as it is possible to do, based on inputs and current configuration from all the departments in the Company.

The following of the functionalities are available in ECM

Compensation:
  • The Compensation Plan Structure
  • Compensation Planning for Front-End User Processes
  • Compensation Statement
  • Reporting Functionalities
  • The Back-End Flow of the Compensation Process                  
  • Long-Term Incentives
  • Compensation Administration

Benefits:

  • Strategic personnel management and support for your full enterprise strategy
  • Business Intelligence reports and ad hoc query functionalities
  • Flexible customizing to meet your business specific needs.
  • Broad, real-time and reliable information exchange and availability for decision making
  • Improved productivity through user-centric applications that ensure HR professionals and
  • managers have  all the right tools with an easy-to-use interface