Oracle Cloud HCM

Oracle Cloud Human Capital Management (Oracle Cloud HCM) is a cloud-based HCM software application suite for global HR, talent, and workforce management released by Oracle Corporation in 2011.[1]

Oracle Cloud HCM
Developer(s)Oracle Corporation
Initial releaseOctober 2011[1]
Stable release
21D / October 2021
TypeHuman capital management software, Human resources management, Payroll
LicenseProprietary
Websitehttps://www.oracle.com/human-capital-management/

History

Oracle Cloud HCM is a full-stack suite of native cloud-based applications for recruiting and talent workforce management.[2][3] The SaaS offering[4] is designed to provide support in one platform for employees and organizations during an employee's entire career, from hiring to career development to retiring.[2][5] It can be accessed on and used across multiple devices,[2][5] and was released as a module of Oracle Fusion applications in October 2011.[1] Oracle developed Fusion infrastructure to support its cloud HCM (Human Capital Management) application, as well as its CRM (Customer Relationship Management); Financials; Governance, Risk, and Compliance; Procurement; Project Portfolio Management; and SCM (Supply Chain Management) cloud applications.[6]

In December 2004, Oracle acquired PeopleSoft.[7] Oracle integrated intellectual property and knowledge of HR from PeopleSoft into HCM Cloud.[8]

In February 2012, Oracle acquired Taleo Corporation, integrating Taleo's Talent Management Cloud into Oracle's human resources management system (HRMS) application product.[9]

In February 2014, Oracle released HCM Cloud 8, which made changes to social sourcing, time and attendance, workforce modeling, performance management, and succession planning components.[10]

By 2015, Oracle's core HRMS and payroll ran completely on the cloud, and the company was building new Cloud HCM apps on mobile first to support an integrated mobile experience.[8] These included life/work apps for employee wellness management, reputation management, and competitions.[8]

In January 2018, Office Depot started using Oracle HCM as its HR/talent management platform.[11] In October of that year, Oracle added third-party tie-ins for LinkedIn Talent Solutions and My Brand tools to HCM Cloud.[3]

In 2019, HCM Cloud was chosen by the U.S. Department of Defense as part of its HR system.[12]

In 2021, Oracle upgraded the platform to use low-code/no-code tools.[13] It also introduced its Dynamic Skills platform capability which uses AI to catalog skills and suggest ways that employees and businesses as a whole can leverage skills.[2]

Talent and workforce management

Companies can use Cloud HCM workforce modeling and prediction tools to predict possible hiring and reorganization needs. There are: a benefits portal that allows employees to sign up for their own benefits, a talent management tool that supports talent acquisition (recruiting) and retention, and learning modules that allow individuals to create and share different classes.[14] Cloud HCM also offers LinkedIn Talent Solutions tie-ins and My Brand tools to support employee collaboration and help employees find career development opportunities.[3]

In 2021, Oracle released a tool called Oracle Dynamic Skills to help companies manage employee skills and identify skill gaps.[2] The set of tools is made up of three major components: Skills Nexus, which uses AI to define and store skills profiles; Skills Advisor, a recommendation engine for skills across the talent business process that uses data about the employee and/or candidate; and Skills Center, a portal for employees to identify their skills and explore career growth opportunities.[2]

Human resources (HR)

The Oracle Human Resources module within Oracle HCM includes some of the following capabilities:[14][13][15][16]

  • Workforce modeling and prediction tools powered by data intelligence
  • Contextual compensation metrics
  • Employee benefits portal
  • Low code/no-code tools for HR templates creation
  • HR help desk
  • Comprehensive onboarding process
  • Work life portal to increase employee engagement and wellness
  • Integrated employee directory to encourage collaboration
  • AI-powered digital assistant

HR administrators can restrict users' access to information based on their location; use configurable, rule-based action lists to manage policies for represented workers; and use LinkedIn Recruiter integrations to automate sourcing, candidate search, and referral recommendations.[3] Cloud HCM also provides a smart employee sourcing tool that calculates factors such as likelihood to accept, performance predictions, and expected tenure.[3]

The HCM application is built to connect to a company's revenue and financial databases, working from the belief that employees are financially important and that financial and HR leadership may need to work together on long-term plans. With HCM, executives have access to total compensation metrics, can control compensation, and can design compensation plans.[14]

In 2020, updates to the platform included Anytime Pay, which allows employees to request early pay, in addition to other payroll capabilities, and Opportunity Marketplace to help companies fill short-term needs.[17]

See also

References
  1. "Oracle Fusion apps go on general release". www.zdnet.com. ZDNet.
  2. Condon, Stephanie. "Oracle wants to help you catalog your employees' skills". ZDNet. Retrieved 2022-03-28.
  3. "Oracle debuts Subscription Management and CX Unity, updates to HCM Cloud and Data Cloud". VentureBeat. 2018-10-22. Retrieved 2019-01-15.
  4. "Après avoir été freiné par la pandémie, le marché du SaaS devrait croitre de 21% en 2021". ChannelNews (in French). 2021-09-28. Retrieved 2022-03-28.
  5. Condon, Stephanie. "Oracle updates cloud applications as SaaS sales builds momentum". ZDNet. Retrieved 2022-03-28.
  6. "The evolution of Oracle Fusion Cloud Services". SearchOracle. Retrieved 2019-01-15.
  7. Lohr, Steve; Flynn, Laurie J. (2004-12-14). "Oracle to Acquire PeopleSoft for $10.3 Billion, Ending Bitter Fight". The New York Times. ISSN 0362-4331. Retrieved 2019-01-15.
  8. Bersin, Josh. "Oracle Gains Momentum in the HR Software Market - A Story of Patience and Focus". Forbes. Retrieved 2019-01-15.
  9. "Oracle Moves Solidly Into SaaS With Taleo Acquisition". Forrester. 2012-02-09. Retrieved 2019-01-15.
  10. "Product of the month: Oracle HCM Cloud 8". SearchHRSoftware. Retrieved 2019-01-15.
  11. "Office Depot deploying Oracle HCM". Employee Benefit News. 2018-01-31. Retrieved 2022-03-28.
  12. "Oracle HCM Cloud to transform US DoD's HR operations". Army Technology. 2019-11-18. Retrieved 2022-03-28.
  13. "Oracle Cloud HCM introduces low-code/no-code template tools". SearchHRSoftware. Retrieved 2022-03-28.
  14. "Oracle Adds Tools to Strengthen Data Use in Fusion Cloud HCM". HCM Technology Report. 2021-11-04. Retrieved 2022-03-28.
  15. "How an HR help desk supports an HCM rollout". SearchHRSoftware. Retrieved 2022-03-28.
  16. "Oracle HCM Adds Features, Focuses on Usability". HCM Technology Report. 2019-03-19. Retrieved 2022-03-28.
  17. "Oracle HCM Cloud gets on-demand pay, internal talent market". SearchHRSoftware. Retrieved 2022-03-28.
This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.