What is SAP SuccessFactors Compensation in SAP BV-HCM - Brand Voice - Human Capital Management?

SAP Term: SAP SuccessFactors Compensation

• Component: BV-HCM

• Component Name: Brand Voice - Human Capital Management

• Description: As part of the SAP SuccessFactors HXM Suite, this solution helps companies create a more simplified compensation plan management with more accurate budgeting and reduced risk. It helps calibrate performance data to ensure fairness and employee retention and insight for total employee compensation analysis. See "SAP SuccessFactors Human Experience Management HXM Suite.”

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• Key Concepts: 
  SAP SuccessFactors Compensation is a cloud-based solution that helps organizations manage their compensation processes. It provides a comprehensive suite of tools to help organizations design, manage, and analyze their compensation plans. It also helps organizations align their compensation plans with their business objectives and goals. 
  
  How to Use it: 
  SAP SuccessFactors Compensation can be used to create and manage compensation plans, analyze performance data, and track employee performance. It also provides tools to help organizations design and implement incentive plans, as well as manage employee rewards and recognition programs. 
  
  Tips & Tricks: 
  When using SAP SuccessFactors Compensation, it is important to ensure that the compensation plans are aligned with the organization’s goals and objectives. Additionally, it is important to ensure that the data used for analysis is accurate and up-to-date. 
  
  Related Information: 
  SAP SuccessFactors Compensation is part of the SAP SuccessFactors suite of Human Capital Management (HCM) solutions. Other solutions in the suite include SAP SuccessFactors Recruiting, SAP SuccessFactors Learning, SAP SuccessFactors Performance & Goals, and SAP SuccessFactors Workforce Analytics & Planning.