Written in collaboration with Tanu Sood.
Digital Disruption: No Human Capital Left Behind
HCM World 2018 is coming up this week in Dallas, and we’re very excited to be on the show floor to cover the action. It’s going to be three exciting days of breakout and keynote sessions around supporting the most valuable organizational asset - Human Capital.
Digital disruption has a deep footprint on pretty much every domain of the business and Human Capital Management is definitely on the forefront. And most organizations are looking to supplement their existing on-premises investments with Cloud technologies - either by extending existing apps or connecting with Cloud applications. This helps organizations support geographically dispersed workforce while lowering the cost and complexity footprint and increasing reliability, security, and innovation.
Also, this innovation is powered by disruptive technology trends like Machine Learning, conversational AI, and IoT to meet the changing demands of this workforce! The goal – to provide employee collaboration, improved productivity and engaging experiences. This also puts the HR teams in a position of strength to support this transformation.
While all this is happening though, there’s another reality you can’t avoid. Businesses have limited IT spends, and there are looming issues around security and compliance that need to be addressed first. And with this fighting for ground, the CEO needs more from any HCM technology spend.
It is no longer about just managing payrolls and timesheets. It is about MANAGING THE TALENT. And that means attracting, hiring, onboarding, training, and retaining this talent. It would mean managing the data and insights to drive meaningful actions to create what we call – DIGITAL ENGAGEMENT. When the employees are engaged, it drives the metrics that every CEO cares about – performance, expense structures, revenue and cash flows.
Charting the Digital Engagement and Performance Journey with HCM in the Cloud
With App Development Using Java Frameworks – Java is a very popular choice to build native applications in the cloud, and there are several frameworks that can get you up and running fast to build your favorite HCM app. But app development is where everything begins.
With Data Integration and Predictive HR Analytics - Data is a critical component of every business, and more now with HR. Organizations have always had this data but doing something with it has picked up speed very recently, very fast. With ‘people analytics’ becoming a thing that drives employee engagement through better processes and programs. One of our customers, Lyft for example, uses our HCM Cloud for predictive analytics (future data) to see what type of behaviors are going to cause a churn and prevent it from happening.
With Social Media and Other App Integrations - We are working with Millennials in every organization. About 40% of Oracle’s population are millennials, followed by 44% of GenX and 18% baby boomers. At Oracle, we’re hiring over 3k college hires every year. And when dealing with this new generation workforce, you got to scout them and find them where they are – on social media, and in online communities!
With Conversational AI and Bots – There are a couple of areas where AI has already made deep inroads with talent and human capital. One, where organizations want to provide a deeply personalized experience to employees and candidates. Second, where organizations want to help candidates make the right decisions and conversational AI, NLP, bots come to help with behavioral awareness and help to build an emotional connection. And third, where a machine’s intelligence can be leveraged to match the candidate to the right job by leveraging conversational AI.
Oracle built a bot for a large retail customer using the mobile enterprise cloud. The bot integrated with LinkedIn and Taleo via web services and bulk API calls to find open positions, apply for a position, and retrieve the status of the position all using conversational AI and mobile tech. Oracle’s Group VP of Talent Acquisition Cloud talks about how Oracle brings AI to talent recruitment for their customers.
PaaS – The Driver Behind Building Innovative SaaS Extensions
Oracle’s expertise in SaaS, Platform, Infrastructure, and of course, data makes it the most viable cloud for our customers. The unique design principles of Oracle Applications allow many SaaS extensions, but accessing the technology to develop these extensions is the power behind Oracle's PaaS for SaaS.
And it is in this context that several PaaS technologies mentioned above help. We’ll talk more about PaaS products and how they’re supporting SaaS a lot more this year, so stay tuned! We’re looking forward to being at HCM World next week to have interesting conversations about this!