For HR that means transitioning to a cloud-based human capital management (HCM) platform. Doing so will give HR leaders a single unified view into the overall HR function to help streamline existing processes, identify new opportunities for individual employees as well as training opportunities for a broader group, and better manage the overall candidate and employee experience. In addition, embedding AI and IoT technologies helps automate repetitive tasks and collect more data to provide actionable insights to further streamline the HR function. Most importantly, making the transition to the cloud will better prepare the HR function to adapt to future changes in business and technological innovations.

Factors to Keep in Mind—Changing Workforce Dynamics and Expectations

With the evolution of consumer technologies and the 24/7, omni-channel access to information, employees are bringing those same expectations to the work. They expect to have technologies that are easy to use and that can provide information in real time. In a time where there’s increased competition in sourcing and bringing in top candidates, it’s important for HR leaders to pay even more attention to the overall employee and candidate experience. Technology can help automate the core functions so that HR teams can focus on strategic areas where human capabilities and expertise can yield the best results.

Managing Global Risk

Oracle is a global organization catering to multinational customers. Regulatory laws vary from region to region, so it’s important to deliver the technologies our customers need to keep up with these changing demands. Oracle Human Capital Management (HCM) Cloud uses the power of the cloud to ensure that our customers can maintain compliance with global, national and hyper-regional HR regulations. Oracle HCM Cloud also leverages AI to streamline and mitigate risk during recruiting and hiring process by helping filter through applications and source the top candidates.

Summing it All Up

In the fast-paced world where information can be accessed at the click of a button, there is also an expectation for HR data to be made available instantaneously. Today, HR technology provides a wealth of information that can help HR leaders be more strategic drivers of growth and success for their companies.

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