See How HCM Cloud Reporting can Shape Your Organization
The modern HR department faces lots of challenges – talent acquisition, training, and development, or managing a digital workforce. However, companies such as Oracle have made it possible for companies to convert these challenges into opportunities.
Most companies are seeing the need to digitize HR processes or move them entirely to the cloud. According to a recent news article, 84% of executives see the value of using data to predict, analyze, and enhance their workforce’s performance. Oracle has made it possible for companies to collect such data through HCM reports.
The other ways through which Oracle is shaping the future of HR include:
The HR role is now more strategic
Through Oracle, HR professionals can let go of mundane administrative tasks and concentrate on issues that demand a hands-on approach. Tasks such as recruitment, payroll, and record-keeping have been simplified, thus improving accuracy, efficacy, and employee morale.
It is optimizing the employee journey
Through tools such as HCM Cloud reports, HR executives can monitor employees’ performance, mood, and attitude. They can then use this data to pick patterns and identify potential turnover, making it possible for them to intervene and create opportunities for employee development, training, and appraisal.
Shifting demographics are now catered to
While there’s an awful lot of information on how to attract, hire, and retain millennials, today’s employers also have to deal with an aging workforce. The U.S. Census Bureau predicts that one in five citizens will be older than 65 by 2030. Oracle has modules that make it possible for employers to come up with strategies that align with the different demographics at the workplace.
Oracle is making it possible for employees to get clearer answers when it comes to their benefits.
Providing simple answers to employees as far as their benefits are concerned is not only time-consuming and costly to companies but can also be quite frustrating to employees. Oracle makes it possible for companies to demystify such queries with human-like answers through chatbots and other messaging mediums.
Better analytics are boosting inclusion and performance management
With BI report support HR professionals can easily collect supervisory feedback, monitor performance, and provide employees with regular reviews. Oracle has made it possible for HR executives to analyze sentiment data, which allows them to benchmark employee performance and boost inclusion.
The modern workforce is highly dynamic, and now more than ever, HR executives have to re-examine their practices. They should take a holistic approach that not only helps them hire right but also supports people’s skills and career aspirations. Fortunately, Oracle has made this, and so much more, possible through innovative software and modules. If you are looking to help your business grow by implementing these strategies, contact DataTerrain today to see what we can do for your organization.