Oracle HCM Cloud acquires in-house HR marketplaces

SaaS requires the Oracle HCM Cloud to be continuously expanded. Among all the new features in the update just announced by the publisher, the HR suite offers several self-service tools designed for employees to better manage their careers.

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A first addition is a function that is linked to compensation. With this function, called “Anytime Pay” and linked to the “Payroll” (the Payroll Engine), you can request advances. This would “improve employee retention,” explains Chris Leone, SVP of Oracle HCM Cloud Development. Many Oracle customers (at least in the US) have independent contractors who are paid by the hour. These HCM users wanted to give them the ability to request prepayment for hours due before the mission ended, he adds.

Anytime Pay is “very, very welcome” to Trish McFarlane, CEO and Analyst at H3 HR Advisors, a human resource management consultancy. This will allow employers to be more competitive in hiring and retaining employees, she says.

However, the update to Oracle HCM Cloud primarily brings new functions with it, in order to advance the employees in their company.

Mobilize internal talent

The first innovation in this area, the “Opportunity Marketplace”, aims to meet the short-term needs of an organization.

This “market of opportunities” can be set up “to mobilize talent for specific initiatives in a very short time,” explains Chris Leone. Example: Find employees with the skills to quickly set up a virtual conference.

“” [Ce “Marché des Opportunités” peut être mis en place] Mobilize talent for specific initiatives in a very short time. Chris Leone VP for HCM Cloud Development at Oracle

Employees can also use this marketplace to improve their skills, find and select tasks that can bring them new experiences outside of their usual position and thus expand their expertise, the Oracle SVP continues.

A marketplace like Opportunity Marketplace “really helps keep people in,” comments Trish McFarlane. With this tool, employees feel more in control of their professional development, education and career.

Another innovation based on a similar principle: “Open jobs for my career”. It’s a marketplace too, but this time to find new positions internally and generally to know how to progress in an organization.

The update also offers functions to avoid incorrect data being entered into the system. HR managers can thus define rules as to how certain information must be entered.

Employee Experience Improvements

For Oracle, the goal of these additions is to improve the “employee experience”.

When employees arrive (onboarding) or depart (offboarding), they are at the end of a trip. These phases are well defined, with important steps and well-identified interactions. But the course would be more unpredictable between the two. “There isn’t much today [entre l’arrivée et le départ d’un employé] to lead a personal career ”, summarizes Chris Leone.

The new features would therefore create a better “experience” for employees and help them develop within the organization, upgrade their skills, take courses and find a mentor, the Oracle manager lists. .

Beyond the “self-service” dimension of these tools, Trish Boese believes that these features contribute to the ultimate goal of helping employees and managers “think and understand” what people really want and want what they want to achieve ”in the organization.

The Oracle HCM Cloud update was announced this week. It will be used this month of October.

With the editorial team of SearchOracle