HCM Cloud Analytics Works with Your Business
Technology has dramatically changed the way businesses around the world are run. Most of the world realizes its ability to boost efficiency, improve customer experience, boost sales, and develop succinct business strategies. Digital transformation in workplaces has stopped being the responsibility of IT departments and has moved to CFO and CEO offices.
A key component of this digitization is cloud connectivity, which encompasses such factors as computing power, Software as a Service (SaaS), Infrastructure as Service, and data storage & analytics. Oracle has been at the forefront in helping organizations reinvent their HR function with BI Support.
Oracle’s role in the HR revolution
Utilizing Oracle applications, organizations can sift through thousands of resumes and social conversations during the recruitment and onboarding processes. This capacity is something that wasn’t achievable in the past. HR departments can assess potential talent, identify skill gaps, point out successors, support the creation of career development plans, and create talent pools.
Tools such as HCM Fusion reports help to identify hiring patterns, build and improve on training and development programs, drive employee engagement, and analyze trends relating to turnover rates and sick leaves.
The HR function has joined the data-driven and data-intensive bandwagons. Modern HR strategies involve lots of data about employees. Oracle Learn Reports make it possible for executives to gain actionable insights. Big data can also be shared with other functions within the organization, thus giving the leaders better visibility when it comes to business performance.
Continuous access to real-time data helps track and optimize employee performance. Through tools such as HCM learn reports, executives can now modernize and improve on performance management. They can also make it an ongoing activity through goal alignment, milestones to check on progress, coaching, and employee appraisal. Companies are now able to demonstrate their commitment to new hires by demonstrating employee engagement through mentorship matching and help whenever it’s needed.
Rather than focusing on career progression, companies are shifting towards models that empower their employees to explore new roles, gain valuable experiences, and reinvent themselves. This shift is critical when it comes to attracting and retaining talent.
The bottom line
Oracle and other HCM technologies continue to disrupt the workplace. Emerging technologies continue to create new opportunities, eliminate redundancies, and develop business strategies. The HR function is quickly evolving, with the workforce changing into a more agile, diverse, mobile, and networked team. Organizations continue adopting technologies such as SaaS, machine learning, AI, and mobile usage as part of the HR function.
Lead Your Industry With BI Report Support
You can ensure that your business is prepared for anything by adopting a scalable HCM solution and nurturing an engaged and knowledgeable workforce that is ready to embrace it. Contact the team at DataTerrain to see how to propel your organization into the global market.