on 06 December 16
Human Resource Management (HRM) is the spine of any successful organisation. Timely developments and upgradation in its management system plays a key role in generating better human capital. Present condition is that, only 34% of HR organizations are actually ready for the necessary transformations they need to make for the future? (source: PwC's 17th Annual Global CEO Survey) Today there is a tremendous pressure on various business leaders to transform their HR departments to sustain business value.
To worsen this, there are cost constraints, aim to meet higher demands with lesser resources and align HR benefits with the business. HR leaders, today, lack reliable and innovative hcm software to be able to execute transformative HR strategies that bring value to their organization.
Although many HR leaders have changed their talent management strategies by adopting updated talent management systems. There are only 16% of HR departments, at present, which have their core HRM system application in the cloud. However, the good news is that 45% of organizations will move their HRM system to the cloud within the next one yearâs time. (Source: PWC's 2013 HR technology survey).
Basic agenda is to be able to bring the premise to align with the business and for that, HR must modernize and transform. What is required is to choose the right human resource management system in the cloud to manage the entire employee life cycle, making it a faster and smoother process. But, what happens is that the core HR functions like payroll and benefits are processed in separate systems, which are not integrated with those used for talent management, workforce optimization and training. This disconnects and hinders in ease of use, reduces the quality of user experiences and makes the data difficult to analyze for valuable insights.
Here comes Oracleâs cloud-based HRM system solution: Human Capital Management Cloud. It reduces the annual cost per employee than if you choose a licensed, on-premise solution. It improves user experiences for employees, managers and HR team, better functionality and easier upgradation is possible.
We all know that, this century, the economy is mostly services-driven. Explaining that further, all good- going companies focus only on taking good care of two things: their employees and their customers.
The HR organizations which still don't have a modern HR and talent strategy are seriously missing out on creating ârealâ value to their business. Modern HR leaders create a great employee experience that serves its customers and their business.
Within the HR software space, Oracle has its own high brand value which fuels both long-term sustainability and customer attraction.
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