Driving Career Advancement:The Role of SAP SuccessFactors Opportunity Marketplace in Talent Growth

Organisations are struggling to keep up with the current career trajectory amid a tight labour market, but this could possibly be an outcome of their doing. Employees have reported that the lack of opportunities to grow within the companies is among the main reasons for quitting. As a result, they are more discerning when choosing firms and career paths.

Given the competitive talent landscape and the rising costs associated with talent and labour acquisition, organisations must come up with ways to attract, nurture and retain valuable employees. They can no longer depend on external hires to bring the needed skills to the organisation. Instead, companies must do more and ensure they can tap into their talent pool and maximise employees’ potential. With this shift, businesses are constantly looking for ways to streamline internal talent mobility to ensure employee and organisational growth.

So, what does it take to make this a reality? SAP SuccessFactors Opportunity Marketplace (OMP) emerges as the tool to enable modern HR management to keep up with the paradigm shift in talent management. SAP SuccessFactors Opportunity Marketplace is a digital platform launched by SAP that matches employees with relevant projects, gigs or full-time roles that mutually benefit the employee and employer. By using AI and machine learning, the platform continuously refines the algorithms and ensures the recommendations made remain relevant. 

Understanding SAP SuccessFactors Opportunity Marketplace

SAP SuccessFactors Opportunity Marketplace is a recommendation platform integrated within the SAP SuccessFactors Suite to help with the evolving needs of modern HR management. The platform connects employees with internal career opportunities that align with their skills, preferences, and career aspirations.

SAP SuccessFactors Opportunity Marketplace leverages artificial intelligence (AI) and machine learning (ML) to match employees with relevant roles and projects. Its AI-driven algorithms analyse various datasets with employee skills, experiences, and interests. SAP SuccessFactors Opportunity Marketplace uses this information to output tailored suggestions, which encourage employees to explore new roles within the organisation that align with their career goals. This also allows the organisation to maximise its talent pool and enhance employee potential. 

Strategic Benefits of Internal Talent Mobility

Internal talent mobility is the lateral, vertical or project-based movement of employees within a company. This can be through promotions, demotions, short-term projects, job swaps, etc.

Good internal talent mobility encourages employees to evolve and learn and offers a sense of security. Employees know that if their current position is scrapped or the project is completed, they can move to new ones within the company. This assurance increases employee engagement and loyalty, which helps in retention.

Internal mobility streamlines the process of identifying and filling roles internally, which helps take pressure off the talent acquisition process. Filling open positions with qualified internal candidates saves time, as the employees are already conversant with the internal processes and the company’s work culture. Internal talent mobility also cuts costs like recruitment expenses, lost productivity hours when onboarding new hires and turnover rates.

An internal Opportunity Marketplace helps companies retain top talent by promoting employees when new opportunities arise. This provides a platform for employees to explore different roles within the organisation, which in turn helps improve job satisfaction.

Opportunity Marketplace assists organisations in identifying and closing skills gaps by offering training and projects to help employees develop new skills. By enabling employees to gain new skills required for the business's continued success, Opportunity Marketplace can help organisations future-proof their talent strategy.

Core Features of SAP SuccessFactors Opportunity Marketplace and Their Impact on Talent Management

SAP SuccessFactors Opportunity Marketplace features are the core of modern HR management. They empower employees to be in control of their career trajectories and enable organisations to build a diverse and agile team.

Some of the features include:

Personalised Career Pathways

Gone are the days of solid career paths predetermined by the recruiting team. With Opportunity Marketplace, employees can craft their career paths based on their strengths, interests, and aspirations. The platform enables personalised career developments that align with the employees, whether a vertical move within a specific team or a lateral progression to acquire new skills.

This feature boosts employee engagement and provides a sense of control over one’s career trajectory. Opportunity Marketplace makes employees feel valued, knowing their organisation is committed to their professional growth.

Learning and Development Integration

With the corporate world constantly evolving, continuous learning for organisations is non-negotiable. Recognising this, Opportunity Marketplace has seamlessly integrated learning solutions within the SAP ecosystem. This integration allows employees to access targeted training and development material and get personalised recommendations based on their goals and skill gaps. 

Opportunity Marketplace allows employees to pursue learning opportunities that align with their career goals, whether acquiring new skills or honing existing ones. This fosters a culture of continuous learning within the organisation, with employees looking forward to acquiring new skills and bettering themselves and, consequently, the company.

Project-Based Opportunities

Beyond traditional career pathways, Opportunity Marketplace offers employees an avenue to explore project-based opportunities within the organisation. These opportunities, commonly referred to as “gigs” or “stretch assignments,” allow employees to upskill or reskill and explore other departments. They also gain exposure to different experiences and broaden their professional footprint.

Organisations can use project-based opportunities to bring together employees from different disciplines. This fosters collaboration and cross-functionality across teams, which maximises employee output. Cross-functionality also leaves room for innovation and allows organisations to adapt quickly to changing market dynamics.

Embracing the Future of Talent Management with SAP SuccessFactors Opportunity Marketplace

SAP SuccessFactors Opportunity Marketplace is a game-changer for organisations looking to promote career development and maximise their talent pool. This tool uses AI and machine learning to come up with the most effective way of unlocking full employee potential within the organisation while also encouraging employee retention. 

The new world of work is fast approaching, and employees are seeking choice and agency in the market. This necessitates businesses to step away from command-and-control leadership styles and incorporate Opportunity Marketplace to put employees in charge of their professional development. 

Contact us to schedule a demo today and explore how SAP SuccessFactors Opportunity Marketplace can be integrated with your existing talent management strategies.