Many of today’s senior executives name pay-for-performance as the most critical tool in achieving the greatest financial results at their companies. But, implementing real, pay-for-performance is easier said than done. SuccessFactors makes it easy for you to quickly and easily implement a powerful pay-for-performance strategy. By rewarding great execution, you will better retain your top talent and drive organizational performance that exceeds all expectations. Plus, you’ll enjoy clearer visibility into individual employee performance when it comes time to make critical compensation planning decisions.
True pay-for-performance culture improves retention. Employees who outperform their peers will be rewarded appropriately, feel valued and happyâ€”and more likely to stay with your company. Ongoing compliance. Design your compensation strategy with objective data and communicate it to managers to stay within allocated budgets and to employees to show the clear link between compensation and performance expectations. Budget optimization. Run “what-if” scenarios and instantly see how increasing merit pay to your best employees would impact your budget. Cost savings. Eliminate thousands of dollars from your expense column each year by making sure you’re not overpaying low performers. Also, the easy-to-use automated system will save compensation managers time and money. Zero error system. Manage your compensation in a secure environment with streamlined workflows where your data is determined via calculation and eligibility enginesâ€”eliminating privacy breaches and human calculation errors. Start compensating your star employees today and see the financial results tomorrow. The power of Business Alignment and People Performance combined: SuccessFactors’ Business Execution Software including Compensation Management helps organizations achieve maximal business results by aligning, arming and inciting organizations to greatness. Learn more about Business Execution Software including recruiting, performance management, goal management and more.