Updated March 4, 2023
Introduction to Oracle HCM Cloud
Oracle HCM means Human Capital Management it is used to transform the traditional administrative function of the Human Resource department we can also say HR departments such as recruiting, training, payroll, compensation, and performance management. Basically, HCM considers the core asset of a business whose value can be maximized with the help of strategic investment and management. HCM term can be referring both to a business strategy and the set of applications and we can consider any other technologies that are used to implement the strategy. This used to give consistent experience across devices as well as improve decision making and empower market-leading innovation to address requirements. In this topic, we are going to learn about Oracle HCM Cloud.
Why do we need oracle HCM Cloud?
Oracle HCM is used to deliver end-to-end solutions to manage the entire business process as well as it also manages the employee lifecycle, screening, hiring, onboarding, time, managing payroll, benefits, and compensation, and managing the performance as well as optimizing workflow. Mainly it focuses on the growth in e-commerce, makes it increasingly valuable, and some tool that enables business processes. Basically, It is used for midsize to large enterprises. It is useful to manage the core task of the HR department as well as also manage strategic tasks throughout the organization. Oracle HCM Cloud is a streamlined routine of HR tasks with some artificial intelligence and machine learning functionality.
Increase business easily
Oracle Cloud HCM is useful to adopt different strategies of people across the employee lifecycle. The single data source provides complete, accurate, and real-time visibility and also allows us to make faster and better decisions.
How do Oracle HCM Cloud works?
Now let’s see how HCM cloud works in oracle as follows.
Basically, Oracle HCM Cloud includes the following modules as follows.
HR: it is referred as a set of traditional employee management functions that include different job details, hiring, position management, reporting, and global HR compliance.
Strategic Workforce Planning:
It is used to create a process within an organization that focuses on current and future hiring needs and it meets the business goals.
Global Human Resources:
It is referred to as global HRM, and it includes all aspects of an organization’s HR department such as payroll and talent management processes.
HR Help Desk
It is a central source of information for employees that can be consulted about the human resource questions. HR Help Desk software provides all information about the employee and that information we can access from anywhere any time by using HCM cloud.
Workforce Compensation
Oracle workforce compensation is allowing us to provide compensation across the group of employees and compensation can be viewed incorporate currency.
Goal Management
Goal management is the process to define and track the goals of employees as well as the organization. It also provides guidance direction to achieve the desired goal of management.
Performance Management
Performance management is the most important module in the HCM cloud and the ongoing communication process between the supervisor and employee.
Career Development
Career development is important from an employee’s point of view. It helps us to choose the career that is also useful to improve the employee skill, also define the path and how we can take decisions that means decision making.
Talent Review and Succession
The talent review meeting and succession planning is used to map the business needs of the organization and it focuses on specific areas such as capacity, capability, and potential of people.
Learning
Learning is the most important module in HCM because learning is the process to acquire new things, new technology, knowledge, behaviors, skills, values, and attitudes; this is helpful to the growth of the organization and also improves the employee’s skill.
Work-Life Solutions
The work-life solution is a program that assists the employee to overcome the obstacles during work and it also monitors how we can increase the job performance.
Workforce Health and Safety Incidents
The oracle workforce health and safety incidents use to manage the environment effectively and simply by using the health and safety incidents. Basically, it is developed in the oracle cloud and it provides the solution to ensure the safety of the workforce.
Time, Labor and Absence Management
Time and Labor are People Soft applications that are useful to report the working hours and leave directly into the HCM People soft system using these timesheets.
Advantages and disadvantages
Here are the following advantages and disadvantages mention below
Advantages
- It is very good for Workforce Admin.
- We can easily integrate with other systems.
- It helps us to increase the productivity of the HR department and employees.
- The approvals and notification process is faster than other systems.
- The main advantage of the Oracle HCM cloud is that it keeps employees motivated.
Disadvantages
- Oracle HCM cloud is tricky when the internet connection is poor.
- The time and Labor features of the oracle HCM cloud need to be updated.
- It is easy to view previous timesheets instead of browsing.
- Sometimes it does not support the auto-update, so at that time we need to do manual work.
Examples
Now let’s see some screenshots of the HCM cloud so we will get some idea, all screenshots we take from the official website of oracle.
The first screenshot shows how we can create the user in HCM as follows.
After creating the user we can change the role of the user as per requirement.
We can see all business objects of a particular organization by using the business object page as shown below screenshot.
In this way, we can perform the different operations we mentioned in the module.
Usage of Oracle HCM Cloud
- It is used to improve the workforce and increase operational efficiency by using Artificial Intelligence and Machine learning.
- In oracle HCM cloud data security and privacy is a top priority, so this strong and secure application.
- In a pandemic situation, every organization needs a system that has a quick report, resolves any incident in their workplace. The workforce and health safety module is included in the Oracle HCM cloud.
- It has global capabilities that mean the organization can work both levels global or local.
Conclusion
We hope from this article you have understood about the Oracle HCM cloud. From this article, we have learned the different examples of HCM cloud. We also see what are the advantages and disadvantages of the Oracle HCM cloud. From this article, we learned how and when we use the Oracle HCM cloud.
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