By Paul Kaptein, Director of Product Marketing, Oracle
Consider this scenario: You’re a small or medium business that’s poised for significant growth next year. Maybe you’re opening a new office or a plant overseas. Or perhaps you’re adding a major account that will double your revenues.
Either way, you’ll be managing more people, more data—and possibly more inefficiencies, if you’re not prepared.
If you lack human capital management (HCM) tools that enable mobile accessibility and data analysis, you’ll likely struggle to attain your growth goals.
Today’s workers—particularly Millennials—seek employers with the capabilities to communicate in real time on any device. In Europe, employees rank mobile accessibility as more important than having a company car, according to a recent BT report.
We’re seeing similar trends in the U.S. and elsewhere. If you want highly skilled, productive employees, you need systems that will enable seamless communication and data sharing.
Consider that 54% of employees responding to the same BT report say they often waste time trying to get hold of people while working remotely, which delays decisions. In addition, 43% of respondents say it’s difficult to access documents and files.
A modern HCM cloud will help you address these challenges head-on. Here are 3 steps you can take to give employees the connectivity they crave:
Even a 5% increase in employee engagement can lead to a 3% increase in revenues, according to Aon Hewitt report. One of the best ways to get employees more engaged is through the use of embedded social tools—similar to the social media they use to communicate in their non-working lives.
Embedded social collaboration can help you connect with employees quickly to resolve performance review issues, or discuss how they’re progressing with their career-development goals.
Employees also expect the same types of alerts and notifications they receive as consumers. For example, if an employee has the skills needed for an internal job posting, an intuitive system can notify him or her when an appropriate position opens.
Because employees worldwide want (and expect) access to mobile technologies, you’ll need the ability to add employees in global markets—without overhauling your existing HR systems.
Cloud-based HR software offers a centralized approach, including translations and compliance reporting to ensure your company can meet international requirements. By using an HCM cloud developed with a global view, you’ll simplify the process for hiring international employees—allowing your business to recruit and manage talent immediately in any location.
The role of HR decision-makers is changing. More companies expect their HR leaders to drive strategic decisions within their organizations. That means you need to integrate HCM solutions with your existing data, including financials, procurement, and project management.
The information from these systems will help you answer questions about the true impact your workforce has on your business. A connected HR and Finance cloud allows you to seamlessly pull the necessary information from various departments to derive meaningful reports and analytics.
The workforce is changing, and your role as an HR leader is evolving, too. Today’s employees want to work for modern, technologically advanced companies that understand the value of real-time communication and collaboration. Meanwhile, HR is moving from a pure cost center to one that adds immediate value.
Whether you’re in Europe, the U.S. or elsewhere, more organizations are trading the company car for real-time access. See how Oracle can help you reap the benefits of connected, integrated HCM in the cloud, and learn about more Oracle solutions to help grow your workforce and your business.