The FINANCIAL — To help organizations find and retain the best talent and increase global agility, Oracle announced significant updates to Oracle Human Capital Management Cloud (Oracle HCM Cloud). Part of Oracle Applications Cloud Release 10, the latest release of Oracle HCM Cloud helps organizations support an increasingly global and digital workforce through a number of new and enhanced solutions including: work-life, workforce optimization, position management, performance management, and robust analytics, all powered by an engaging and modern user experience.
Organizations are having to rethink the HR function as digital technologies are changing every aspect of how a company engages with its workforce. To embrace these changes and create real business value, HR organizations need a modern HR and talent strategy that can meet ever-increasing employee expectations. Modern HR technologies can support this transition by enabling collaboration, optimizing talent management, providing complete workforce insights, increasing operational efficiency, and making it easy for everyone to connect on any device, according to Oracle.
With the latest release of Oracle HCM Cloud, Oracle is extending its commitment to help organizations embrace modern HR. New work-life applications, including Reputation Management, Employee Wellness, Competitions, and Career Development, go beyond traditional HR applications to increase employee engagement by bringing process, innovation, and the employee community together. To further support the demands of an increasingly digital workforce, the latest release of Oracle HCM Cloud also delivers an enhanced user experience. It engages casual users by aligning the user experience across devices and browsers to facilitate a more productive day-to-day experience.
With Oracle Applications Cloud Release 10, Oracle HCM Cloud also introduces enhanced analytics capabilities, which provide chief human resources officers and line of business leadership with answers to their most pressing business questions including evaluation of key skill gaps due to retirement projections and assessment of training and development programs against actual business results. In the latest release, Oracle HCM Cloud adds the ability to combine 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 audience via a quick and intuitive drag and drop user interface.
“We are very excited about what’s coming in Oracle HCM Cloud Release 10, especially around position management,” said Joël Günter, manager, HRMS, FRHI Hotels & Resorts. “Release 10 offers the ability to manage a diverse workforce through improved position management support. With this new feature, we will be able to minimize data integrity and management with position synchronization, position controls as well as the ability to develop and apply organizational models. With high mobility and turnover of employees, which is the nature of the hospitality industry, this functionality is critical to control our headcount effectively and easily visualize and manage changes within our organization.”
The new release of Oracle HCM Cloud also enables organizations to increase operational efficiency. A new mobile solution for performance assessments enables HR executives to give employee feedback more quickly and effectively. In addition, enhanced workforce optimization 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 better track when global offices will be closed for public holidays. Increased payroll management capabilities and industry-specific functionality further drive operational efficiencies.
“To take advantage of all the changes that digital technologies enable in the workforce, organizations need to be able to quickly, easily, and cost-effectively take advantage of modern HR best practices,” said Chris Leone, Senior Vice President, Applications Development, Oracle. “The latest release of Oracle HCM Cloud is specifically designed to help global organizations embrace modern HR and includes a number of exciting new innovations, particularly in the work-life space, that will help our customers drive positive business outcomes across the enterprise.”