It’s well known by now that becoming a better HR leader means you must embrace data as a first step to reaping the rewards of insight-driven decisions.
In fact, the rewards for an effective people analytics strategy are high. According to Bersin by Deloitte, organizations at the highest level of talent analytics maturity generate 30 percent greater stock returns than average, are twice as likely to improve their leadership pipelines, have two times greater talent mobility, and are twice as effective at recruiting.*
But where do you start to gain powerful insights to ensure that your people strategy supports your corporate strategy? What are the essential types of data and insight? To begin with, you’ll need to:
- Understand the current state of HR strategies and objectives throughout the business. What is on target and what is not?
- Provide managers with in-line insight to help them do their jobs. For example, do you know how effective your onboarding activities are in relation to your employee retention? Are you adequately and fairly compensating your talent to ensure that they stay engaged and motivated?
- Rethink and simplify your operational and compliance reporting. Yes, it’s time to clean out the closets.
Sound like a lot? The good news is you can do this today with one simple step. The report center within the SAP SuccessFactors HCM Suite can help. Available since the third quarter 2017, report center is a one-stop shop for all of an HR leader’s reporting needs. It enables you to centrally build, maintain, and access a variety of visually attractive reports, dashboards, and information tiles that keep a pulse on your people activity.
As you may have read previously, report center is a first step to leveraging SAP SuccessFactors People Analytics. With report center, you gain operational and compliance reporting and ad hoc reporting, as well as solution-specific embedded analytics and intelligence with embedded insights panels.
Leverage Report Center Today
Currently an optional feature in the SAP SuccessFactors Upgrade Center, report center is planned to be applied to all preview instances as a universal feature in the second quarter of 2019 and to all production instances universally in the third quarter of 2019. This will be done to support the further expansion of SAP’s people analytics strategy, enabled by SAP Analytics Cloud. For more information on how to enable the Report Center, read this piece on the SAP SuccessFactors customer community (log-in required).
Use SAP SuccessFactors People Analytics to fuel your business strategy and execution, inspire your workforce, and deliver value to the business. The time is now.
Carolyn Beal is senior director of Solution Management for SAP SuccessFactors
*High-impact Talent Analytics: Building a World-Class HR Measurement and Analytics Function. Bersin by Deloitte 2013