Modern HR is experiencing disruption, forcing businesses to reprioritize their human capital management strategies. Legacy systems and silos within current HR practices have become antiquated, noncompliant, and ineffective in change management, discouraging HR departments from being strategic in what they do best: people management. Many chief human resources officers (CHROs) are rethinking HR to suit a modern, capable, and improved workforce.
One area that organizations are exploring include comprehensive, unified cloud-based HCM systems that connect the business and its workforce. Cloud-based systems enable HR to be prescriptive and methodical in responding to what a workforce needs without barriers from time, data, technology, or resources. If you’re figuring out what your business may gain from the cloud, here are four areas to think about.
Change constantly happens in HR, from the rise of remote work during the COVID-19 pandemic to increased digital engagement, multi-generational workforces, and ongoing training—requiring that HR services be quick, easy, and adaptable. A cloud-based system is ideal, offering a configurable, self-service, connected, and secure environment. By increasing speed and gaining operational excellence in the delivery of HR services, businesses are better positioned to scale up or down for growth and challenges.
The digital world has had a radical effect on the employee experience, especially during the COVID-19 pandemic with remote workforces. Inclusion and empathy are critical with many employees feeling isolated and depressed, according to our latest AI at Work study.
Employee experiences should be no less engaging than the experiences you offer your customers. Cloud-based HR is designed to enrich the lives of employees with rich consumer-grade experiences. Integrated online applications such as self-service employee portals and digital assistants or collaboration tools such as blogs and workplace social networks enable a real-time connection between managers and employees, giving HR the tools to creatively encourage and motivate the workforce.
Decision-makers are consistently challenged to evaluate workforce needs and goals in support of growth and innovation. However, traditional on-premises solutions create data siloes that prevent the organization from examining critical insights, especially if the data connects across business processes. Cloud-based HR unifies data across different business units including HR, finance, and supply chain, providing greater visibility that enables constructive decision-making about talent and workforce needs. For example, HR leaders who want to model workforce changes over a fiscal year can connect employee data with financial projections and decide upon their hiring decisions. Decisions can be made even faster when these capabilities are combined with machine learning and artificial intelligence.
With COVID-19 sending many workforces remote, teams must find ways to effectively collaborate. While traditionally disparate systems and fragmented reporting do not help HR, cloud-based HR solutions eliminate inefficiencies and ensure that processes are responding to global and local needs—including addressing local data regulations, security protections, business rules, and compliance.
Cloud-based HR systems have dramatically influenced the pace, behavior, and agility of today’s dynamic workforces. It’s forcing businesses to focus on employees by making sure they have the right tools and information in hand to do their jobs. Learn more about Oracle Cloud HCM and discover how our solutions can help transform your business.
Enjoyed reading this blog? Leave feedback for us.