SAP SuccessFactors 2H 2021 Release: How to build a reward and recognition program that celebrates employee loyalty
Your people drive your business. While the war for talent has organizations across the globe focused on hiring the best talent, it is important companies also recognize the dedication and commitment of current employees who are working hard to drive the success of the organization.
While ‘just-in-time’ recognition programs serve as a great tool to increase employee engagement and motivation, it is long-service awards that can help foster a culture of longevity and loyalty in an organization. Long-service awards are a simple and effective employee retention tool.
In a world where job tenure has been on the decline, it is more important than ever to have a comprehensive recognition program that includes long-service awards.
As we continue to emphasize the importance of the employee experience, we have made it easier for you to recognize employee loyalty to your organization. With the 2H 2021 SAP SuccessFactors release, we’re thrilled to share that we’ve expanded our rewards and recognition capabilities to support milestone award types. You can now configure and manage long-service award programs to recognize employee work anniversaries and improve employee motivation and retention.
Why is this important?
Recognition for years of service is among the most popular recognition programs in organizations and is oftentimes handled manually or using excel or emails. By providing support for long-service award programs as part of SAP SuccessFactors Compensation, organizations are able to automate and streamline the process for increased efficiency.
How does it work?
Employees receive point-based awards for completing a fixed amount of time with the company. Administrators have the ability to define the milestone levels, for example, 90 days, 3 year, or 5 years, to configure different award levels for each long-service achievement and to define the award redemption options.
Flexible configuration options at the legal entity level support regional variations and company specific program requirements. Program eligibility can be defined using a business rule or by a dynamic group. Based on select date fields such as hire date or service date in SAP SuccessFactors Employee Central, the system can automatically determine the eligible employees and initiate an award.
Administrators can configure different email templates at the country, region or legal entity level to notify employees of the long-service award and schedule when it is sent by using the document generation functionality in SAP SuccessFactors.
Check out this video to learn more about the 2H 2021 release and the innovations available in SAP SuccessFactors Compensation and SAP SuccessFactors Employee Central Global Benefits.
For a full view of the 2H2021 release, please check out the What’s New Viewer.