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  • July 5, 2018

Want to grow faster? Employ HCM cloud

Richard Cheeseman
Director HCM Applications Marketing EMEA

The value of human capital management (HCM) software to HR teams is well understood. But exactly how much can your organisation benefit from HCM software as it strives to grow in today’s competitive markets? It can be challenging to understand the value of new processes or state-of-the-art capabilities—such as the latest artificial intelligence (AI)—especially if you don’t yet have any experience of them. Fortunately, there is a useful online tool that will help you get to grips with both what you can achieve, and also how much the new capabilities are worth to your business specifically.

Effective, modern HR systems can save your business time and money in countless ways. For example, in the recruit to onboard phase, they can help you identify current skills gaps. When combined with an appropriate model for how your business is likely to grow they can even forecast the skills you will need for the future. Automation can be used to filter large numbers of applications and CVs quickly, and AI used to identify specific candidate attributes—perhaps using intelligent bots—or to search through previous applications. It also has the potential added benefit of removing human bias by focusing on the practical skills and experience required for a role, rather than a candidate’s most attention-grabbing CV entries. A single, common platform can help make offer generation easier, and improve the employee experience during onboarding. That same platform can make HR’s job far easier, helping to grow productivity, and also meeting other goals such as compliance.

 

How much can you gain?

In fact, these are just a few of the headline benefits of the latest HR systems, and focused on one area, for recruit to onboard. But what are modern HR systems actually worth to your organisation in practice, in your particular market and operational circumstances?

There is a powerful, quick and easy-to-use online tool for recruit to onboard that will create a personalised report for your specific business requirements. Simply enter a few details about your business to get started—annual revenue, industry and number of employees—and you will gain access to a detailed analysis of how you can save over five key areas:

  • Reduce voluntary employee turnover
  • Optimise employee replacement expense
  • Speed up time to hire
  • Minimise outside recruiting costs
  • Increase percentage of right hires

 

Best practice advice

The tool puts a figure on the overall savings you can make, as well as providing estimates for how that breaks down across each of these five areas. Moreover, there is a wide range of supporting content—eBooks, videos, blogs, customer success stories and more—within each section to help you visualise best practice to grow your business. Finally, your personalised report will summarise the online tool’s findings, with links to further resources, for use in your business cases.

When used correctly, effective digital HCM experiences have been shown to drive positive changes in areas that impact employee engagement. Forty percent of employees believe their organisations promote flexible working and 38% believe their employer is concerned with their wellbeing*—both of these statistics could potentially be improved upon with effective cloud-based HCM software.

 

The number’s up on delays

Using our online tool, you will—perhaps for the first time—be able to understand exactly what your business specifically can gain from updating its recruit to onboard systems and processes. HR technology is currently advancing at a faster rate than ever and successfully recruiting the best talent has become a competitive necessity. There is a danger that those companies that do not embrace the new ways of working will be left behind—both in their industry sector, and also in their very ability to find and retain the best people in the future.

Find out how much you can gain — use this online tool to create your own personalised report on the value of using Oracle Recruit to Onboard: SMB Edition for your business now.

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