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Oracle HCM Cloud Fall Update Sharpens Focus on Simple, Smart, and Agile

Oracle HCM Cloud Fall Update Sharpens Focus on Simple, Smart, and Agile

Written by Emily He, SVP Product Marketing, Oracle HCM Cloud

Before autumn turns to winter and the year comes to a close, we owe it to ourselves to think about where the end of the year finds us. Much as we plan for cold weather by winterizing our homes, it’s important to consider the transformation taking place in the workplace and attempt to future-proof our business.

The changes enabled by technology are only accelerating. In just the last ten years we’ve seen the introduction of social media and handheld computers and can now work from nearly anywhere at any time. Artificial intelligence (AI) and machine learning are no longer pie-in-the-sky concepts but instead are being integrated into products we use daily.

Consider the fact that 70% of employees use AI in their personal lives—for things like ridesharing, personal finance, and entertainment—but only 24% use AI at work.1 Add to this the knowledge that 90% of employees would be comfortable taking directions from a robot and yet only 6% of HR professionals actively deploy AI in their organization, and we can see there’s a big disconnect.2 Our employees want the same tools and experiences they are accustomed to benefiting from in their personal lives to become customary within the workplace, and they’re waiting for employers to deliver on these expectations.

Make Work More Human

In response, Oracle has just released the Oracle HCM Cloud 2018 Fall Product Update. In delivering on Oracle’s promise to make work more human, this update includes many useful innovations and emerging technologies designed to make work simpler, smarter, and more agile. Let’s take a few minutes to look at several of these key innovations.

                    

Make Work Simpler

To offer more convenience and increase engagement, Oracle’s goal was to provide users with the same familiar experience on every device when accessing HR transactions. The guiding principles included a mobile-responsive design, guided transactions, and rules-driven automation. Oracle has delivered on this promise with a single experience across multiple devices, simplified HR self-service and HR transactions, and powerful new integrations between LinkedIn and Oracle Recruiting. In doing so, we’ve simplified a number of complicated HR transactions for the HR professional, including complex worker processes such as adhering to collective bargaining agreements and union contracts.

A brief summary of the benefits of being simpler to use include:

  • Acting more quickly
  • Increasing HR efficiency
  • Strengthening mobile security and compliance
  • Improving recruiter productivity

                                              

Make Work Smarter

The intent here was to provide powerful AI-based tools and digital assistants to help people get the information they need to make smarter decisions. The design principles included infusing AI and machine learning throughout the solution, ensuring that HR processes remain pattern-driven and intelligent, and incorporating new human interfaces to deliver a familiar experience. The key innovations here include AI-enabled recommendations to find the best job candidates, self-learning risk management, and HR digital assistants. We think you’ll appreciate Oracle Advanced HCM Controls, designed to monitor your HCM transactions in order to find and eliminate any ghost employees, duplicate user records, and payroll errors. You’ll also notice our HR Digital Assistant is accessible on any device serving up a scalable HR concierge, and is voice-enabled for use with Alexa, Google Assistant, Siri, and more.

Among the benefits of being smarter are the following:

  • Improving recruiter productivity and quality of hire with AI-driven sourcing and matching tools
  • Incorporating self-learning risk management to prevent fraudulent payments
  • Getting quick answers through digital assistants
  • Strengthening compliance

                  

Make Work Agile

Our focus here is to help HR professionals adapt to business changes quickly, and to give employees the tools they need to advance their careers. Our guiding principles included connecting HR teams’ tools and information, creating adaptable processes to allow you to tailor functionality as needed, and taking a talent-centric approach to employee development. The key innovations include strategic workforce planning, Oracle’s Experience Design Studio and My Brand, and integrations with LinkedIn geared toward employee learning. We know it’s critical for you to plan and execute your people strategy in line with your changing business priorities, so we’ve made it easier to align the people strategy with the business strategy, identify gaps, and conduct what-if scenarios to see the predicted impact.

By being more agile, you’ll be in a better position to:

  • Anticipate and predict workforce needs
  • Improve operational efficiency
  • Drive cultural changes faster
  • Help employees build their best career through branding and learning

                              

Change Waits for No One

A recent McKinsey study on the future of work says that 47% of current jobs will vanish in the near future and that 400–800 million jobs will be replaced by automation.3 More encouraging is Gartner’s assessment that we’ll see an overall net gain of two million jobs by 2025.4 What no one disputes is that we’re in a sustained period of rapid change in the workplace and the end is nowhere in sight. In preparing your company and your most valuable assets—your people—for the turbulence ahead, Oracle can help. 

Are you ready to learn more about what's new in Oracle HCM Cloud?

1 “Tomorrow’s HR, Today: Exploring the Role of Human Resources in Digital Transformation,” research study conducted for Oracle by Research Now SSI, involving interviews with 373 HR directors, VPs, and CHROs around the world, April 2018

2 Ibid.

3 McKinsey Global Institute November 2017 Report, “Jobs lost, jobs gained: What the future of work will mean for jobs, skills and wages”

4 Angus Loten, “AI-powered Tools Cutting Tasks, Not Jobs: Survey,” Wall Street Journal, January 2018 

 

Read more Oracle HCM Cloud Fall Update Sharpens Focus on Simple, Smart, and Agile
Source: Oracle HCM

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