IBM Case Studies Standard Life improves its ability to reward and retain talent

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	Standard Life improves its ability to reward and retain talent IBM

Standard Life improves its ability to reward and retain talent

IBM

Technology Category	Functional Applications - Enterprise Resource Planning Systems (ERP)
Applicable Industries	Finance & Insurance
Applicable Functions	Human Resources
Services	Cloud Planning, Design & Implementation Services System Integration
Challenge	Standard Life, a global financial services company, wanted to identify, develop, and retain talent across its global operations. To enable meaningful comparisons of employee performance, its human capital management leadership team needed an integrated talent management and compensation solution. The company was using a legacy HR solution that was not efficient in managing core business functions such as payroll. The company needed a solution that would align performance, reward, and talent management processes and provide an integrated view of the workforce across the company. Read More
About Customer	Standard Life is a global financial services company that provides a range of financial products and services, including pensions, savings, insurance, and investment management. The company operates in various markets around the world, serving millions of customers. Standard Life is committed to helping its customers build a secure financial future and is constantly looking for ways to improve its services and operations. One of the key areas of focus for the company is human capital management, as it recognizes the importance of identifying, developing, and retaining talent across its global operations. Read More
Solution	Standard Life worked with IBM Global Business Services to deploy Oracle Fusion Human Capital Management with Performance Management, Goal Management, Talent Review, Compensation Management, and Transactional Business Intelligence modules. The company also moved from its legacy HR solution to Oracle E-Business Suite to improve its ability to manage core business functions such as payroll. A proof-of-concept exercise was conducted at the IBM Innovation Center in La Gaude, France to mitigate risk during the implementation of Fusion HCM. The IBM and Standard Life teams defined a common global data model for HR, normalizing grades, assessment structures, and processes across all of the company’s legal entities and operating units. Read More Log in to view content
Contents

Technology Category

Functional Applications - Enterprise Resource Planning Systems (ERP)

Applicable Industries

Finance & Insurance

Applicable Functions

Human Resources

Services

Cloud Planning, Design & Implementation Services

System Integration

Challenge

Standard Life, a global financial services company, wanted to identify, develop, and retain talent across its global operations. To enable meaningful comparisons of employee performance, its human capital management leadership team needed an integrated talent management and compensation solution. The company was using a legacy HR solution that was not efficient in managing core business functions such as payroll. The company needed a solution that would align performance, reward, and talent management processes and provide an integrated view of the workforce across the company.

About Customer

Standard Life is a global financial services company that provides a range of financial products and services, including pensions, savings, insurance, and investment management. The company operates in various markets around the world, serving millions of customers. Standard Life is committed to helping its customers build a secure financial future and is constantly looking for ways to improve its services and operations. One of the key areas of focus for the company is human capital management, as it recognizes the importance of identifying, developing, and retaining talent across its global operations.

Solution

Standard Life worked with IBM Global Business Services to deploy Oracle Fusion Human Capital Management with Performance Management, Goal Management, Talent Review, Compensation Management, and Transactional Business Intelligence modules. The company also moved from its legacy HR solution to Oracle E-Business Suite to improve its ability to manage core business functions such as payroll. A proof-of-concept exercise was conducted at the IBM Innovation Center in La Gaude, France to mitigate risk during the implementation of Fusion HCM. The IBM and Standard Life teams defined a common global data model for HR, normalizing grades, assessment structures, and processes across all of the company’s legal entities and operating units.

Impact #1	Standard Life has gained a flexible, integrated talent management platform that helps its employees and managers fulfill their potential, adding value to the business.
Impact #2	The company has begun rolling out the Oracle Fusion HCM Talent Review module to facilitate talent review for the executive succession and talent review population.
Impact #3	Standard Life can now use the Oracle Fusion HCM compensation module to allocate the available bonus pool, helping to reward and retain employees.

Impact #1

Standard Life has gained a flexible, integrated talent management platform that helps its employees and managers fulfill their potential, adding value to the business.

Impact #2

The company has begun rolling out the Oracle Fusion HCM Talent Review module to facilitate talent review for the executive succession and talent review population.

Impact #3

Standard Life can now use the Oracle Fusion HCM compensation module to allocate the available bonus pool, helping to reward and retain employees.

Benefit #1	Using Fusion, Standard Life was able to calculate all bonus payments within just two weeks – an improvement of more than 66 percent.

Benefit #1

Using Fusion, Standard Life was able to calculate all bonus payments within just two weeks – an improvement of more than 66 percent.

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Overview

Standard Life improves its ability to reward and retain talent

Operational Impact

Quantitative Benefit