The stress, anxiety, and changing priorities of individual workers over the past 18 months has contributed to the recent trend of the Great Resignation, leading to a tidal wave of resignations and job changes across the globe. According to the U.S. Bureau of Labor Statistics, 4 million Americans quit their jobs in the month of July alone. 30 days later, 55% of people currently in the workforce said they are likely to look for a new job in the next 12 months, according to Bankrate’s jobseeker survey. With volatility in the job market upon us, organizations need to act quickly to create “the irresistible organization (Bersin, The Definitive Guide 2021)” to attract and retain top talent.
To win the war on talent and create an irresistible organization, the employee experience must be optimized, placing people at the center of all decision-making. Focusing on the workforce cannot be done without the right technologies to quickly obtain insights on employee sentiment, provide personalized and relevant experiences, and development opportunities.
Let’s look at three keys to creating the elusive irresistible organization.
Organizations need to quickly and easily understand their workforce needs to attract and retain top talent. However, only 11% of organizations (Deloitte, Global Human Capital Trends survey) can produce information on the state of their workforce in real-time. It is hard to collect, clean, and draw insights from data. It’s even harder when there’s a need to integrate data among multiple systems, and most often, that is indeed needed.
With Oracle Fusion HCM Analytics, we’ve made it easy to bring that data to life in a cohesive story and improve the employee experience and retain top talent. Voice-driven and predictive analytics let HR and people managers ask any question and receive answers in a visually compelling way, no matter where they are. As employees work from different locations and work flexibility grows, HCM analytics make gathering data and insights across the organization simpler, helping HR leaders better recruit, retain, and forecast talent needs.
Now more than ever, employee experience is paramount. Communicating with, connecting to, and supporting employees is vital not only during a crisis, but also during their everyday practices. Employers need tools to better engage and support employees while making work more personal and productive.
Oracle Journeys enables HR teams to enhance employee experiences by creating and delivering personalized support for their people. It provides access to all the resources employees need to tackle their biggest challenges: personal, professional, administrative, or operational. For example, HR managers can create "journeys" or step-by-step guides to walk employees through major events including onboarding, growing their career, launching a new product, or even taking medical leave.
These experiences are tailored to each individual, delivered at the right time, and readily available—via desktop, mobile, Oracle Digital Assistant, and collaboration platforms like Slack and Microsoft Teams.
Organizations also need to plan long-term for their growth while building the agility to quickly pivot as necessary. To do that, they need to know at any point in time what skills they have on hand and where they need to invest, train, or acquire. HR leaders know that sharpening their skills strategy is key for the future of work, but maintaining an accurate view into current enterprise capacity is complicated by the frequency with which skills are changing in today’s rapidly evolving business and technology climate.
Oracle Dynamic Skills helps organizations continuously detect, manage, and grow the skills that fuel their talent supply chain, driving business agility, transformation, and growth. It helps organizations answer their critical capability question: Do we have the right talent now and for the future?
In addition to allowing employees and managers to inventory and match skills to support an organization’s growth, Oracle also enables employees to build personal profiles, network with one another, and even compete in wellness and volunteering challenges to improve employee engagement and better align to their personal lives.
Now more than ever HR, leaders, and managers need to understand their people to effectively engage and retain critical talent. Check out this on-demand event, Excellence in EX: What Really Works that dives deeper into employee experience and highlights how successful organizations have created irresistible experiences to attract and support employees.
Ready to learn more about how Oracle Cloud HCM supports employee experience and why industry analysts highly regard it against the competition? Visit here.
Michelle Shapiro is a product marketing director within human capital management at Oracle. Her mission is to evangelize the power of Cloud HCM as a critical tool for organizations to modernize their HR practices and transform their workforce. Prior to Oracle, Shapiro worked most notably at Fiserv and Hyland Software, where she drove the adoption of digital automation strategies within financial institutions.