SAP SuccessFactors has delivered enhancements and updates across the SAP SuccessFactors® HCM Suite as part of their Q1 2018 product release. Here are a few key updates you should consider for SuccessFactors Compensation & Variable Pay.
These days data is one of the most valuable resources and General Data Protection Regulation (GDPR) focuses on regulating the use of personal data. SuccessFactors' Q1 2018 release is mainly focused on the suite-level, data protection and privacy (DPP) features to enable its clients to implement the DPP features that support EU’s GDPR requirements with no additional cost.
Existing product features have been enhanced and new features built to support clients in their compliance journey. The following DPP features are applicable for Compensation and Variable Pay.
Why is it important? All organizations that offer goods or services to, or monitor the behavior of, EU data subjects and those that process or hold the personal data of EU residents must comply to GDPR. Violating the regulations may lead to heavy penalties upto 4% of global revenue or €20 million whichever is greater.
Prerequisites: RBP Migration and MDF Enablement
Admins can now choose to clone the eligibility rules while using Copy Plan Template feature.
Configuration Type: Admin Opt-in
Why is it important? Currently, admins have to recreate the eligibility rules manually in each new template when they copy from a existing template. If there are a number of eligibility rules, this could mean a lot of time spent on repetitive work With this feature, number of errors can be reduced since we are not creating the rules manually specially when there are too many rules to be configured.
Previously, when admins created a statement from SuccessStore, all the stock related fields such as “stockCompRating,” “stockUnits,” “stockGrantDate” etc. were not available for display and the workaround was to create custom fields. With this release, SAP has added support for these fields in SuccessStore statement template editor.
Configuration Type: Admin Opt-in
Why is it important? Clients using SuccessStore statements to communicate LTI information had to previously create custom fields which were copy of standard fields to communicate the same information.
Other Upcoming and Minor but Helpful Enhancements
All instances will be upgraded to the New Worksheet
Are you using Compensation v11 Worksheet? With the Q2 2018 release, SAP will automatically upgrade customers who have not already switched to the newer Compensation v12 worksheet. If possible, we encourage you to upgrade sooner, as the v12 version offers the improved Fiori User Interface (UI) being used across SAP’s suite of products. Plus, all enhancements are currently being made to the v12 version.
Total Compensation Planning Worksheet Available
For the full list of updates to SuccessFactors Compensation & Variable Pay, visit the SAP SuccessFactors Community.
Need help implementing these updates? We've got you covered! Click here to get support from our team now.
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