The Version 10 offers a host of benefits, such as workforce optimisation, robust analytics and management of position, performance and work–life balance
Oracle has enhanced its Human Capital Management Cloud (HCM Cloud) – Version 10, which promises to offer several new and enhanced solutions. These solutions will help manage work-life balance, ensure workforce optimisation, and also in position and performance management. It also offers robust analytics besides an engaging and modern user experience.
It will assist organisations in their attempt to find and retain the best talent and increase global agility.
Chris Leone, senior vice-president, applications development, Oracle, says, “The latest release is specifically designed to help global organisations embrace modern HR.”
“It includes a number of exciting innovations, particularly in the work–life space, that will help our customers drive positive business outcomes across the enterprise,” he adds.
The modern HR system, a result of digital technologies, is redefining the rules of employee engagement. To embrace these changes and meet ever-increasing employee expectations, companies need a modern HR and talent strategy.
Modern HR technologies enable collaboration, optimise talent management, provide complete workforce insights, increase operational efficiency and allow everyone to connect on any device.
The latest release of Oracle HCM Cloud is a step in that direction and will enable companies to embrace modern HR.
The new work–life application, which is a part of the enhanced version, will take reputation management, employee wellness, competitions and career development, beyond traditional HR applications. It will increase employee engagement by bringing together process, innovation, and the employee community.
The latest Oracle HCM Cloud promises to engage casual users by aligning the user experience across devices and browsers, to facilitate a more productive day-to-day experience.
It will introduce enhanced analytics capabilities, which will provide chief human resources officers and the leadership with answers to their most pressing business questions. Some of the significant concerns it will address include evaluation of key skill gaps due to retirement projections, and assessment of training and development programmes against actual business results.
Oracle HCM Cloud will facilitate the combination of HR-related data from multiple data sources into a comprehensive view, which can be shared across the company for coordinated workforce assessment and planning.
These views can be easily added into mobile briefings for executive audiences via a quick and intuitive ‘drag and drop’ user interface.
The latest version of Oracle HCM Cloud allows companies to manage a diverse workforce through improved position management support. It will minimise data integrity and management with position synchronisation, position controls as well as the ability to develop and apply organisational models.
Version 10 also promises to increase operational efficiency. A new mobile solution for performance assessment enables HR executives to give employee feedback more quickly and effectively. In addition, enhanced workforce optimisation capabilities make it easier for global companies to support local process needs. For example, an extended holiday calendar for sub-country holidays helps HR departments keep better track of the times global offices will be closed for public holidays. Increased payroll management capabilities and industry-specific functionality further drive operational efficiencies.