By Alison Weiss and Linda Currey Post
The world of work is changing fast. New technology is creating new jobs that require new skills while rendering many traditional positions obsolete. According to recent research by EY, millennials will represent 75% of the global workforce by 2025. Today’s workforce is more diverse and mobile, with evolving expertise, expectations, and career goals. Workers are seeking more career opportunities, increased collaboration, and a more relaxed business environment. And they are not afraid to change to find exactly what they want. In fact, a Deloitte report found that two-thirds of millennials plan to leave their current employer by 2020.
Successfully navigating this fast-changing global talent market demands that HR teams create HR and talent management strategies to support the way people want to work today. Oracle OpenWorld, which took place in San Francisco last October and boasted attendance of more than 60,000 customers and partners from 175 countries, gave HR experts from around the globe the opportunity to share strategies for leading their organizations into the new world of work. It’s a world in which artificial intelligence (AI) and machine learning (ML) will help HR pros identify the best job candidates, keep HR information secure, and assist employees with routine HR tasks.
“We’re leveraging AI to augment finding the best-fit candidate and ultimately increasing the quality of hire in our recruiting system.” —Chris Leone, Senior Vice President, Application Development, Oracle
Attendees not only heard from Oracle leaders but also gained insight from Oracle Human Capital Management Cloud (Oracle HCM Cloud) customers participating in the conference, including Associated Bank, Cognizant, Esterline Technologies Corp., Northwell, Sinclair Broadcast Group, and Yum! Brands.
During his Oracle OpenWorld keynote on the first day of the conference, Chris Leone, senior vice president for application development at Oracle, introduced new data intelligence capabilities in Oracle HCM Cloud. “A big part of our investment is around new emerging HR technologies, AI, and ML,” Leone said, “and how we can bring that to bear to help enable the recruiters and managers in their hiring processes.”
The objective is to facilitate talent management by helping organizations make better, more strategic decisions based on data analytics. One such AI feature helps HR recruiters more effectively evaluate candidates, based on their education, work histories, career trajectories, and aspirations. Another AI feature predicts job candidates’ likelihood of success, by comparing data on their qualifications and past performance with data on the company’s best employees. Leone demonstrated some of these new Oracle HCM Cloud recruiting features on both a laptop and a smartphone. “We’re leveraging AI to augment finding the best-fit candidate and ultimately increasing the quality of hire in our recruiting system,” said Leone.
Modern computer systems have to be intuitive and have graceful, human-comprehensible UIs, and that’s what we’re bringing to these enterprise-level applications.”—Oracle Executive Chairman and CTO Larry Ellison
Beyond incorporating AI to streamline processes so HR professionals can do their job better, AI-powered applications in the form of HR-trained chatbots will soon be available. According to Leone, Oracle developers are creating digital assistants with natural language interfaces to answer common employee HR questions such as "Who is my HR rep? How do I get a new dental benefits card? What is my vacation balance?"
“Employees don’t want to continue to sit at their computers and fill out cumbersome forms,” said Emily He, senior vice president of HCM product marketing at Oracle, in an interview. “That’s the beauty of AI and chatbots with natural-language interfaces. They allow workers to have a more human experience and engage with technology in a conversational way.”
Leone also highlighted the progress Oracle developers are making to tighten the security of Oracle HCM Cloud and improve data privacy. Oracle Advanced Human Capital Management Controls Cloud Service, which he called “the LifeLock of enterprise software,” uses ML to continuously monitor HR transactions, looking for unusual application access patterns that could, for example, indicate that intruders are manipulating payroll or expense account information. Automatic notifications of unusual activity are sent to security managers. Not only does this feature give HR experts the ability to limit access to sensitive HR data to only specific users but they can also more easily manage exceptions and policy violations, lowering the cost of regulatory compliance.
Oracle HCM Cloud Headlines from Oracle OpenWorld 2018
Oracle HCM Experience Design Studio Makes It Easy to Configure and Personalize HR Processes—Without Requiring IT Help
New Advanced HCM Controls Functionality Incorporates ML to Monitor HR Transactions and Boost Data Security
Location-Based Access Control Helps Keep Sensitive HR Data Secure When Working Offsite
Integrations with LinkedIn Deliver Better Recruiting Experiences and Improve Employee Retention
Tired of HR Paperwork? HR-Trained Bots with Natural Language Can Answer Common HR Questions Fast
Further, a new location-based access control feature that enhances data security and safeguards the provisioning of sensitive HR data is now being tested by customers. It works by automatically restricting user access to certain data, including salaries, when a user is mobile and working outside of the office. “You can have a set of roles at the office, and you can have a set of roles at home,” said Leone. “And your security policies are different, based on your location.”
HR specialists attending Oracle OpenWorld were able to hear firsthand about innovations that improve the Oracle HCM Cloud user experience. For example, Oracle HCM Experience Design Studio will soon give HR teams the ability to configure HR processes without requiring help from the IT team. They will be able to specify the steps for employees and managers to take for self-service HR transactions, such as changing benefits coverage or completing promotions.
And, to help HR professionals find and attract qualified employees from a broader talent pool, Oracle is extending its partnership with LinkedIn to create valuable new integrations between Oracle HCM Cloud and the professional networking platform.
To make it easier for organizations to source candidates and to simplify hiring processes, Oracle is linking Oracle HCM Cloud with LinkedIn’s Recruiter System Connect. Now HR managers who are current users of Oracle HCM Cloud can more easily consolidate and view recruitment information and more readily track each job candidate’s progress as that person moves along in the hiring process.
Golden State Warriors President Rick Welts (left) and Diego Pantoja-Navajas, Oracle vice president of VMS development, discuss developing and engaging talent in the changing workforce at OpenWorld 2018.
A new Oracle HCM Cloud feature called Talent Profile Import will help HR teams better engage and retain employees by improving internal talent development options. The feature will enable employees to import selected information from their LinkedIn profiles into their Oracle HCM Cloud company profiles. The goal is for employees to call attention to themselves with hiring managers at their own companies.
Many of the Oracle HCM Cloud innovations and the integrations with LinkedIn profiled at Oracle OpenWorld are slated to be rolled out in the near future as part of Oracle’s quarterly cloud updates.
Leone observed that Oracle’s close relationship with its customers will continue to influence the roadmap for Oracle HCM Cloud, but he and his team are keenly aware of the challenges companies face with HR and talent management. “We’re not forcing customers to uptake all the new capabilities,” he said. “We’re giving you choice, so you can adopt what we’re delivering, even at a rapid pace, as it makes sense for your organization.”
Photography by Oracle and Hartmann Studios Inc./Oracle
Linda Currey Post