"Cloud is the engine on how Oracle Human Capital Management (HCM) customers operate", that and many more thought-provoking, inspirational phrases were coined at Oracle's 2nd Annual HCM World in March. A conference that congregated hundreds of HR professionals and Executives in various stages of their HR transformation journeys to one underlying string of thought, or rather question: "What is my business doing to transform?" Here's a quick synopsis of what went on.
Focus on Talent
In a conference focused on modernizing end-to-end HCM, we continued to touch on the heart of talent management. Attracting, retaining and motivating existing talent remains a universal topic as it relates to the evolving HCM. A striking statistic shared during opening night read, "70% of workers are really not inspired by their job" which left the audience desperate for interpretation. Organizational health, an infectious culture, socially collaborative workplace, rewarding workloads, rotational job assignments, flexible work-life were a few topics that were touched in response to breaking down the barriers of conventional HR practices which still exist today. Meaningful employee experiences are not limited to challenging work, performance reviews or traditional job perks ? alternatively it encompasses the full-on journey between the initial interview for the job to the subsequent touch points that contribute to the development of individual talent. Also known as and quoted by partner speaker Kraig Eaton as, the "Moments that Matter", of what is driving employees to feel invested.
Survive or Thrive
Mark Hurd's keynote identified key challenges global HR will be facing in the next decade such as retention and motivation of the millennial workforce. The age range between talent today is 20 years to 70 years of age--which means it's imperative for HR leaders to have the technologies in place to meet the specific needs of a multi-generational workforce. He noted that Millennials who will make up a significant portion of the workforce by 2020 have a wildly different take on job satisfaction. "They will trade higher pay for greater flexibility", mentioned Mark.
And will HR organizations with limited insight into Social and Data transparency survive or thrive? In Cara Capretta's opening keynote she stated "Social Networks have become HR's business". Subsequent track sessions revealed insightful ways to integrate Social into the workplace and examples on how Recruiters with limited Social capabilities (or budget) can reap the benefits of earned media within Social Networks to build awareness with target candidates.
Transformation to Cloud
A key portion of the conference was dedicated to learning from customer implementations. In a partner keynote, it was stated that 64% of people surveyed aren't prepared to move to the cloud because of tremendous challenges and resource constraints that would be experienced as a result of change. Yet resisting transition to the cloud is only a barrier to maximizing a company's human capital potential. And in fact, many of the customers at HCM World were in varying stages, whether it be an On-Premise to Oracle cloud adoption phase or the initial stage of augmenting core HR Cloud with solutions like Talent Management or Social Sourcing -- the tracks following the keynotes at HCM were helping to pace the key learnings and answer questions native to the journey like, How long did it take your company to migrate?, What were some of your biggest challenges?, Did change management get in the way?. Real-life customer scenarios that were truly modernizing HR in the cloud provided actionable insights to others as they listened in on keynotes and individual track sessions.
Oracle Learning Unveiled
And lastly, the unveiling of the new Oracle Learning Cloud reemphasized the chatter around energizing human capital potential by addressing the needs of the multi-generational, digitally savvy workforce--enabling learning that is social and mobile on the go. The perks of the new Oracle Learning Cloud go beyond traditional learning modules, allowing HR and business leaders to create new standards and practices in support of higher participation rates and individual empowerment.