Oracle Cloud Human Capital Management (Oracle Cloud HCM) is a cloud-based HCM software application suite for global HR, talent, and workforce management released by Oracle Corporation in 2011.[1]
| Developer(s) | Oracle Corporation |
|---|---|
| Initial release | October 2011[1] |
| Stable release | 21D
/ October 2021 |
| Type | Human capital management software, Human resources management, Payroll |
| License | Proprietary |
| Website | https://www.oracle.com/human-capital-management/ |
History
Oracle Cloud HCM is a full-stack suite of native cloud-based applications for recruiting and talent workforce management.[2][3] The SaaS offering[4] is designed to provide support in one platform for employees and organizations during an employee's entire career, from hiring to career development to retiring.[2][5] It can be accessed on and used across multiple devices,[2][5] and was released as a module of Oracle Fusion applications in October 2011.[1] Oracle developed Fusion infrastructure to support its cloud HCM (Human Capital Management) application, as well as its CRM (Customer Relationship Management); Financials; Governance, Risk, and Compliance; Procurement; Project Portfolio Management; and SCM (Supply Chain Management) cloud applications.[6]
In December 2004, Oracle acquired PeopleSoft.[7] Oracle integrated intellectual property and knowledge of HR from PeopleSoft into HCM Cloud.[8]
In February 2012, Oracle acquired Taleo Corporation, integrating Taleo's Talent Management Cloud into Oracle's human resources management system (HRMS) application product.[9]
In February 2014, Oracle released HCM Cloud 8, which made changes to social sourcing, time and attendance, workforce modeling, performance management, and succession planning components.[10]
By 2015, Oracle's core HRMS and payroll ran completely on the cloud, and the company was building new Cloud HCM apps on mobile first to support an integrated mobile experience.[8] These included life/work apps for employee wellness management, reputation management, and competitions.[8]
In January 2018, Office Depot started using Oracle HCM as its HR/talent management platform.[11] In October of that year, Oracle added third-party tie-ins for LinkedIn Talent Solutions and My Brand tools to HCM Cloud.[3]
In 2019, HCM Cloud was chosen by the U.S. Department of Defense as part of its HR system.[12]
In 2021, Oracle upgraded the platform to use low-code/no-code tools.[13] It also introduced its Dynamic Skills platform capability which uses AI to catalog skills and suggest ways that employees and businesses as a whole can leverage skills.[2]
Talent and workforce management
Companies can use Cloud HCM workforce modeling and prediction tools to predict possible hiring and reorganization needs. There are: a benefits portal that allows employees to sign up for their own benefits, a talent management tool that supports talent acquisition (recruiting) and retention, and learning modules that allow individuals to create and share different classes.[14] Cloud HCM also offers LinkedIn Talent Solutions tie-ins and My Brand tools to support employee collaboration and help employees find career development opportunities.[3]
In 2021, Oracle released a tool called Oracle Dynamic Skills to help companies manage employee skills and identify skill gaps.[2] The set of tools is made up of three major components: Skills Nexus, which uses AI to define and store skills profiles; Skills Advisor, a recommendation engine for skills across the talent business process that uses data about the employee and/or candidate; and Skills Center, a portal for employees to identify their skills and explore career growth opportunities.[2]
Human resources (HR)
The Oracle Human Resources module within Oracle HCM includes some of the following capabilities:[14][13][15][16]
- Workforce modeling and prediction tools powered by data intelligence
- Contextual compensation metrics
- Employee benefits portal
- Low code/no-code tools for HR templates creation
- HR help desk[17]
- Comprehensive onboarding process
- Work life portal to increase employee engagement and wellness
- Integrated employee directory to encourage collaboration
- AI-powered digital assistant
HR administrators can restrict users' access to information based on their location; use configurable, rule-based action lists to manage policies for represented workers; and use LinkedIn Recruiter integrations to automate sourcing, candidate search, and referral recommendations.[3] Cloud HCM also provides a smart employee sourcing tool that calculates factors such as likelihood to accept, performance predictions, and expected tenure.[3]
The HCM application is built to connect to a company's revenue and financial databases, working from the belief that employees are financially important and that financial and HR leadership may need to work together on long-term plans.[18] With HCM, executives have access to total compensation metrics, can control compensation, and can design compensation plans.[14]
In 2020, updates to the platform included Anytime Pay, which allows employees to request early pay, in addition to other payroll capabilities, and Opportunity Marketplace to help companies fill short-term needs.[19]
See also
References
External links
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