Tag Archive: financial planning


Anja Hartman-Weitz, HR Director at Sage VIP

Anja Hartman-Weitz, HR Director at Sage VIP

 

- By Anja Hartman, HR Director at Sage VIP

Talent management adds strategic value to a business and if implemented correctly will help a company to achieve its business goals. In a nutshell it is all about placing the ‘right people in the right role’ for current and future business plans.

A company’s talent management strategy should form part of the overall HR strategy and in the end align with the company’s overall business plan. For example, if the company is building a brand of confidence for the external customers; this confidence will have to be demonstrated by the leaders inside the business. Creating a leadership brand is therefore central in supporting the brand internally. This will help the leaders to focus not only on achieving financial targets but also think of how to motivate and engage employees to achieve these financial goals.

Company culture, forms an integral part of talent management and will attract the right talent for future success. For instance, if you work towards being an employer of choice, your employees are more likely to be loyal, and in the end this will make you as a company a favourable option for the people you want to attract. A company’s culture is not established overnight and links in strongly with the behaviours of the business leaders, the way decisions are taken, the processes and the day to day running of a business.

In Sage VIP, we have found great value in conducting anonymous employee surveys. In these surveys, employees had the opportunity to tell us how they rate certain dimensions in the business, but more importantly indicate which dimensions will make them more loyal towards the company. This formed the foundation in our journey on becoming an employer of choice and we are fortunate to be in a position where talented graduates approach us and want to work at our company.

Building a talent pipeline

One of the main responsibilities for any manager is to ensure a strong talent pipeline.  They have to identify critical skills and competencies required for current and future business goals. In addition to this, the manager also has to identify critical positions and determine which individuals will be capable of taking up these key positions in future.

An analysis of your current talent can be based on discussions with individuals, the output from assessment tools and evaluating the performance of employees over the last few years.

The following should be taken into consideration when determining an employee’s potential:

  • The ability to easily progress to higher and more complex levels
  • Displaying learning agility and is readily adaptable
  • The ability to perform cross-functional assignments and not be limited to geographical or functional discipline
  • Personal aspiration and commitment to succeed

This evaluation process is followed by developing people according to a structured plan, based on the gaps identified between the business plan and the current talent available. It is also referred to as a succession plan.

In any organisation, there will always be employees with a specific talent or critical ‘know how’, on which the company relies heavily. If these employees should exit the business, the impact is usually huge because the skill is not always easy to replace. Managers should aim to reduce the dependency on these critical workers as far as possible.

The succession plan will help to reduce the business risk and the company should have a supply of talent ready to fill this role or be capable of doing broader roles. Replacement plans should be reviewed annually and action plans followed up rigorously – particularly in areas where there are critical gaps.

Talent management and confidentiality

A question regularly asked is, is whether an employee should know if they have been identified as “high potential?” It is important to encourage an open and honest approach with the employee at all times and to communicate with employees where they are in the talent pipeline and what it means to them.

Talent management is not just another HR process. It is important to the survival of any business and managers have a responsibility to ensure talent is managed, effectively and continuously.

by Michael Brennan

Sage has been carefully listening to its global market for Sage ERP X3 with regards to feedback and requests on the topic of Financial Reporting and is already making progress on integrating a powerful and flexible reporting technology based on cutting edge BI technology. The Sage ERP X3 core product team in France has embarked on a strategic partnership with our team with the intention of providing a modern Excel-based financial reporting designer and tools.

We have been in the business of offering robust Excel-based business intelligence tools for 11 years and have been working on Sage ERP products since 2005. Sage France’s move to collaborate closely with our team, mainly based in South Africa, is well aligned with Sage Group’s core strategy of consolidating group assets across regions and presents an exciting roadmap of consistent product and service offerings globally.

As global market BI market trends continue to evolve we have been investing heavily in new advanced technologies to power our next generation offerings and are pleased to announce Sage ERP X3 version 7 will include fully integrated financial reporting capabilities based on its next generation In-Memory Database BI Platform codenamed ‘LIME’. This new column based database platform has been engineered from the ground up to cater the needs of tomorrow’s businesses with a core focus on high performance, flexibility and great user experience. The new platform is able to accelerate performance by pre-calculating financial logic and place the results into its in-memory BI database to dramatically improve real-time query performance.

Expectations on this new offering include report design automation to cater for novice Excel users as well as flexible drag and drop formulas for capable Excel users. This approach allows both types of users to pull financial and analytical ledger data directly out of Sage ERP X3 v7 and arrange it within Excel using their existing Excel skills and save your Excel report securely back to the Sage ERP X3 server. In addition to utilizing cutting edge technology, we are also including major usability and modernization changes to our  report designer tools as we ramp up to deliver on ever increasing market demands for simpler BI and reporting software. This is great news for users who are already using Sage Intelligence Financial Reporting for Sage ERP X3 v6 and v6.5 who can look forward to substantial business value increases when moving to the integrated report designer within Sage ERP X3 which will be available as an option to all users using version 7.

Both French and South African teams are excited about the extent of new business value planned for Sage ERP X3 version 7 as a result of their collaboration and having a dedicated BI team focus on the Excel financial reporting capabilities of Sage ERP X3 allows the French team to ship more value to market each release.