As businesses move past the pandemic, there is a strong realization among businesses that human capital is their biggest asset. Right from healthcare to manufacturing to finance, enterprises have begun to redefine the way they operate. They are using intuitive business models and technology for managing workforce effectively.
The pandemic has also dissolved the work and personal life separation. However, this has led to many employees becoming disengaged, and unproductive. Enterprises are recognizing the value of consolidating multiple applications on the cloud to help provide employees with real-time visibility into their overall operations.
According to Statista, in 2020, the global Human Capital Management (HCM) applications market is likely to touch $37.9 billion by 2025 as against $33.6 billion in 2020.
Oracle Fusion Cloud HCM is a complete solution natively built for the cloud. It connects every human resource process from the time of hiring to retirement. The application provides a consistent experience across devices, brings about a single source of HR data to improve decision-making, and empowers resources with market-leading innovation to address business needs.
Oracle HCM Cloud
Oracle HCM Cloud is an end-to-end solution that helps manage every stage of the employee lifecycle, from attracting talent and screening them to hiring, and onboarding such resources. It also helps manage their time, leave of absence, payroll, compensation, benefits, performance and review. Finally, it optimizes workflows.
Oracle HCM Cloud allows HR admins or leaders to quickly meet and adapt to changing business needs on a global scale by providing advanced HCM controls, comprehensive dashboards, and insightful analytics. The robust application helps create human experiences and accelerates business agility. The Oracle HCM cloud connects the entire organization with applications across the supply chain including marketing, finance, and more to render a more holistic understanding of all business functions to resources.
HCM Cloud Products by Oracle
- Global HR Cloud helps include the core HR module, workforce directory, predictions, etc. It is a complete solution that helps engage the workforce totally and optimize operations.
- Talent Management Cloud helps with acquiring talent, goal and performance management, career advancements, reviewing talent, and planning succession.
- Workforce Rewards Cloud helps HR leaders differentiate talent and adeptly handle compensation, benefits, payroll, and sales-related rewards.
- Work-life Solutions Cloud helps HR leaders engage with the brand, wellness, volunteering, and competitive activities.
- Workforce Management Cloud helps with optimizing time, labour, and leaves.
Oracle Cloud Human Capital Management is an easily configurable application with an interface that allows personalization to suit any work culture without losing focus on productivity.
Oracle HCM Cloud services are built as a single cloud solution across HR, talent acquisition, talent management, payroll, workforce planning, and health and safety. The solution also connects a full suite of applications across finance, supply chain, marketing, and sales, to the core HR function and can function as a central HCM platform.
AI-powered chatbots can be integrated with Oracle HCM Cloud to help identify suitable talent and personalize candidate experience. Resources can take charge of their career growth using smart learning and talent mobility options.
Enterprises need a trusted partner to understand and take advantages of the opportunities offered by Oracle HCM Cloud services. Gemini Consulting & Services can help businesses to use Oracle HCM Cloud to drive innovation and growth. Contact us to know Oracle HCM Cloud can be customized for your enterprise.
Benefits of Implementing Oracle HCM Cloud
- Highly intuitive and intelligent
Powered by emerging technology such as AI (Artificial Intelligence), Oracle HCM Cloud combines data with cutting-edge Machine Learning (ML) tools to improve workforce insights and increase operational efficiency. It comes with easy-to-configure dashboards helping manage data across Finance, HR, and Sales. Now each of these predictions and suggestions help in reducing costs and driving growth.
- Enhanced data security and privacy
Oracle solutions maintain the foremost security standards and employ experts to back up customer data. Oracle Cloud solutions are used in confidential domains, such as in mission-critical government and enterprise applications world-over.
- Creates an agile workforce
The pandemic has enabled businesses to provide a system that allows their employees to quickly report, review, and resolve any incidents in their workplace. The specific workforce health and safety module in HCM Cloud is an easy-to-use application that strives to create an environment that establishes this as well as identifies and prepares for high-risk possibilities that can create disruptions. The system comes with an auto-fill feature where employees can easily fill in details and submit the same. Once the issue gets reported, it is resolved by the Environment Health and Safety (EHS) Manager by following a detailed process that ensures safety.
- Flexibility and adaptability
Oracle HCM offers employees the option of easily configuring their organizations’ workforce applications and also setting up processes without the involvement of the core IT resources. It also ensures employees have access to the right tools to produce their maximum output every day.
- Global and local capabilities
Today most organizations operate at two levels- global and local. While Oracle HCM Cloud solutions are designed to meet the corporate and regional needs of enterprises, they can be scaled up and rolled out as part of a global solution to the organization.
