How Cloud Technology can Help You Capitalize on The Surge of Rehires
BI Support And HCM Automated Reports Help your Business Thrive
Five months into the coronavirus pandemic, it is more apparent than ever that the crisis has had a dramatic effect on the American economy as a whole as well as virtually every individual company within it. Perhaps most noticeably, millions of employees have lost their jobs, which means that eventually, there will be a surge in rehiring. That rehiring surge is an opportunity for agile companies to take advantage of a never-before-seen hiring market. Tools like Human Capital Management, or HCM, Cloud reports can be a resource for doing that.
A Unique Situation
Organizations poised to rehire large numbers of employees currently have an opportunity to devote more resources than ever before to the processes of sourcing, recruiting, and onboarding. Organizations from multiple, diverse industries are gearing up to do so with tools like Oracle Recruiting Cloud (ORC), which is part of the larger HCM Cloud. The ORC can deliver information on job candidates and make it easy for HR professionals to update and refresh career pages’ content and branding with HCM Cloud reports.
Recruiting and Reintegration
It is expected that among furloughed employees, 80% will return to their previous employer, meaning roughly 20% turnover will be the norm. This situation will require both a massive reintegration of returning employees and a large search for candidates to replace those who do not come back. Today’s vast array of technology can aid with reintegrating employees, with one example being that mobile apps can make remote work less of a challenge and more of an advantage. It can also help with recruiting; for instance, analytical HCM Fusion reports can provide data on past recruiting gaps (such as an over representation of certain demographics within a workforce) so that HR professionals can correct such problems going forward.
Efficient Interviewing and Onboarding
Interviewing in the post-COVID business world may seem like a challenge for as long as physical distancing is necessary. However, video functionality can make the interviewing and onboarding processes both safer and efficient. Rather than waiting until an in-office visit is possible for onboarding, new and reintegrating employees can begin the process immediately through video content and long-distance training.
Oracle HCM Reports Drive Business Forward
It may have seemed impossible five months ago, but for certain companies, this crisis will present opportunities to improve, thanks in large part to the smart use of technology. If you are looking to help your business grow by implementing these strategies, contact DataTerrain today.