What happens when you start a training, realize that it is not actually something you need and drop it? Well, you have lost some of your time (and money, if you paid for that training).
Imagine now what this means on the scale of a whole company where hundreds or even thousands of employees drop out of trainings because they find out, after starting and spending some time on a course, that the course they selected is not what they should be doing. Time loss is multiplied by all employees and hence money spent by the company on that time is lost money.
It would be good to have a solution to that problem and SAP SuccessFactors is there to help!
In SAP SuccessFactors employees receive personalized recommendations on trainings they could attend based on their profile, their career aspirations, and the company's future development goals.
The recommendations, proposed by an AI engine, have proven to increase the training completion rate and provide more useful skills to the employees (and hence to the company workforce as a whole)
What does that mean exactly for your company in financial terms? How much money can you save with this functionality? You can easily calculate the positive budgetary impact that SAP SuccessFactors is enabling your company to achieve using a value calculator publicly available here.
In the value calculator you specify the size of your workforce and your industry area to get a first financial result that you can, optionally, fine tune with specific information on your business context.
The financial results are based on three main KPIs:
The time not wasted by employees when a training is dropped before completion
The time not wasted for searching in a (too) large set of available trainings
The time saved in your training department by reducing the manual work related to assigning and curating trainings for each employee
All those time savings are converted into money that your company will save. The calculations are done using market research indicators and real customer feedback SAP received on this use case.
Once the calculation is performed you can download a document with all the details and calculation steps that apply to your specific company situation.
So, are you curious to see how much monetary benefit you can obtain from the built-in functionality of learning recommendations in SAP SuccessFactors?
Try it out for yourself, you are less than 10 clicks and 5 minutes away to see how you can save money (and have a happier workforce)!