HR enthusiasts globally are in pursuit of having connected employees in their teams. Connected employees are engaged employees, who are fully involved, enthusiastic, and inclined to work toward furthering the organization’s interest. Organizations need the right strategy, information, and system to approach modern HR practices. The need is for a complete solution that connects HR processes, enables one source of truth for HR data for faster and more accurate decision-making, and offers innovative engagement practices that keep the organization future-ready.
Human Capital Management (HCM) rests on the principle of treating human resources as the core business asset whose value can be enhanced by way of strategic investment and management. The core HR functions of recruiting, training, payroll, compensation, and performance management are transformed into avenues for engagement and business value enablement.
HCM, though a concept, also refers to the IT applications and related technologies that are used to implement the strategy. The term, Human Resource Management Software (HRMS) may at times be used interchangeably, however, it is a suite of software applications that automate HR processes throughout the employee lifecycle. HCM as a concept or even application emphasizes the strategic approach to HR and goes beyond HRMS.
Gartner has named Oracle a leader in providing innovative HCM solutions supporting business continuity. Oracle has been named a Leader for the fifth straight time and has been positioned the furthest on ‘completeness of vision in the 2020 Magic Quadrant for Cloud HCM suites for enterprises with 1000+ employees. The cloud and software-as-a-service (SaaS) delivery models are the latest approaches in HCM technologies. Oracle Fusion HCM Cloud solution is built with an AI-first approach. It guides in making faster and smarter decisions. It integrates with other business modules like financials, supply chain, customer experience, and others to align your HR department with the overall business goals. It also supports Platform as a Service extension for custom-built applications. The cloud approach enables faster implementation and upgrades. It also helps lower IT costs by converting variable capital expenses into fixed and transparent operating expenses.
Personalized and Modern User Experience: The new suite of Cloud 2.0 is built for simplicity and intelligence. The HCM interface can be personalized in accordance with your natural working style.
Intelligent Applications: In contrast to many vendors, Oracle Fusion Cloud HCM is a SaaS application built on Oracle’s own cloud platform and infrastructure. Data is combined with advanced machine learning to increase operational efficiency.
Agile Solution: Oracle HCM is an adaptable and extensible solution to respond to changing business regulations and practices.
Holistic Solution: Organizations looking to manage their entire employee lifecycle prefer to go with Oracle Cloud HCM. Not only it is a single cloud solution that covers all aspects of HR but also connects with other functional applications across the business.
Innovation: By being on the cloud, the application is powered with frequent updates offering new and exciting features. These close to 9500 updates implemented annually are a result of customer feedback and extensive research and development.
Security: With security being a top priority, Cloud HCM offers multi-layered security, data encryption, and state-of-the-art data centers.
Global Capabilities: Cloud HCM is designed with a global orientation encompassing corporate and regional levels with 200+ jurisdictions and 25+ languages.
Mobile: Oracle Cloud HCM is mobile responsive and does not need an application. It is so designed to offer the same experience consistently across every device. It is easy to personalize and see what is important to you, whether on a desktop or mobile.
Digital Assistant: This provides guidance and answers questions. It can handle complex requests in a conversational way. Innovations like suggestions assist employees at each stage.
HR Suite: The Human Resource Suite covers core HR, onboarding, absence management, HR helpdesk, and multiple other features. This helps in managing a global workforce by planning, managing, and optimizing people processes.
Talent Management: This module covers acquisition, performance management, career development, talent review, learning, and succession management. Talent management helps with every stage of the talent lifecycle from sourcing and recruiting to succession planning while keeping employees engaged all through.
Workforce Management: The module comprises workforce time and labor, strategic workforce planning, and health & safety. A fully integrated solution that manages time, and labor, and leaves with payroll, financial, and personnel information.
Payroll: This module covering global payroll supports a range of requirements across organizations, employees, and industries. This supports payroll processes, compliance with tax reporting, and regulatory rules.
Employee experience (EX) is every interaction and touchpoint the employee experiences in the organization. EX is influenced and affected by each interaction that the employee has with the organization starting from their offer letter and ending on their last day of work.
Oracle ME (My Experience) is an all-inclusive EX platform covering all the processes and activities that concerns the employee’s job like onboarding, training, performance review and management, compensation, organization culture, and interpersonal interactions. It also encompasses the tools and technology used by the employees for their jobs. Such supporting technology teamed with transparency, trustworthy leadership, and inclusion, can deliver high levels of maturity in enterprise-wide EX excellence. My Experience (MX) helps in improving employee engagement, by way of guided experiences. HR is enabled with delivering personalized employee communications and also is empowered with all the tools that their employees will need.
WHAT ALL DOES ORACLE ME COVER?
Oracle HCM Communicate
Personalized communications with your employees, more humane interactions, engaging dashboard facilitating relevant messaging, and such.
Oracle Journeys
Guided workflows customized to each employee to help them navigate through key processes.
Oracle Touchpoints
Continuous Engagement Tools like enabling surveys, tracking employee sentiments, scheduling reviews, and such.
Oracle Connections
Helping employees with Workforce Directory, and Organization Chart, helping them create their own interests-based connections, and building relationships, and networks.
Oracle HR Help Desk
HSM integrated Service Delivery solutions, insights from issues history, and proactive resolutions to issues.
Oracle Digital Assistant
Enabling quick responses to queries through Conversational AI Chatbot, automation of repetitive tasks, guidance with key processes, and such.
Oracle Journeys help HR teams to create, customize, and deliver step-by-step guidance to help employees through multiple events such as onboarding, leaves, breaks, returning to the workplace, new product launches, or career planning. The solution ensures an experience that is personalized, guided, and accessible from anywhere. This gives the employees the liberty to complete their journeys however they choose—through desktop or mobile. It serves as a single point of self-service. From HR-related experiences like mentoring to cross-functional experiences like contracts or projects, journeys can be extended to help simplify multiple tasks within any area of the organization.
For instance, Journey covering ‘Grow your Career’ will have multiple options like access to the organization’s opportunity marketplace where all gigs are listed for one to choose from. It connects with all pages across any function, where an employee can access preferred additional assignments and can set goals for the same.
Brand new journeys can be created and assigned to self or others. Existing journeys can be augmented with additional tasks and can be shared with assigned teams. Each of these journeys can be drilled down to see the details. These journeys come with booster capabilities that allow the extension of the processes and integration with other systems in the organization. This could be for something as basic, yet important as pre-booking a conference room in your company’s other office.
These templates used in Journeys can easily be developed by the HR team with low-code/no-code tools. This software development approach lets teams with limited or no background in coding in building their own templates for journeys.
Clearly, workforces are transforming into flatter and more agile teams. HCM is evolving too with the growing adoption of not just existing technologies like SaaS and mobile, but also newer cutting-edge technologies like machine learning and AI.