New capabilities within Oracle Cloud HCM help
organizations execute a skills-based talent strategy to expand
insights, build talent pipeline, and enhance workforce
decision-making
LAS
VEGAS, Sept. 11, 2024 /PRNewswire/ --
Oracle CloudWorld -- Oracle today announced a new open
skills architecture within Oracle Dynamic Skills that helps
organizations to develop, curate, and execute an enterprise-wide
skills-based talent strategy. Part of Oracle Fusion Cloud Human
Capital Management (HCM), Oracle Dynamic Skills helps organizations
– regardless of where they are on their skills journey – better
understand and leverage the skills of their employees, expand
access to talent, and make smarter workforce decisions.
"Skills are quickly becoming the primary metric to understanding
the capabilities of an organization. Having a skills-based talent
strategy can help an organization uncover critical work and
workforce insights, tap into more diverse talent, and maximize
performance. But many organizations don't know where to start in
their skills journey," said Yvette
Cameron, senior vice president, global product strategy,
Oracle Cloud HCM. "With Oracle Dynamic Skills, we are making it
easy for our customers to manage their skills data – whether they
are just getting started on their skills journey or looking to
enhance their existing skills data. By providing the intelligence,
applications, and architecture, we enable our customers to better
align their skills with business priorities, optimize their
workforce, and future-proof their organization in a rapidly
evolving job market."
Oracle Dynamic Skills enables organizations to manage skills
data at its core, alongside its work and people data, for improved
insights and data-driven decisions. With a complete view of skills
woven into processes across the enterprise, an organization can
optimize its workforce performance by making better internal hires,
fostering career development, enhancing planning and budgeting,
improving skills-based scheduling, and developing highly skilled
employees aligned with business needs. The new open skills
architecture within Oracle Dynamic Skills includes:
- AI-powered bespoke skills inventory: Enables HR leaders
to gain a complete catalog of their organization's skills that can
be modified or refined, and is always kept up to date. As a result,
HR leaders can help their organization enhance the speed and
accuracy of skills insights by improving data consistency and
relevance.
- AI-powered data enrichment: Enables HR leaders to
combine enriched skills data with data from across the enterprise
and third-party sources. As a result, HR leaders can help their
organization gain more value from the tools and data they already
have, and benefit from AI features that expand skills insights to
better align talent with business priorities.
- Skills library: Enables HR leaders to jumpstart their
skills journey with an extensive pre-populated skills library to
augment existing skills data or serve as a starting point. As a
result, HR leaders can help their organization accelerate adoption
of a skills-based talent strategy and improve workforce
decision-making.
- Skills data analysis: Enables HR leaders to analyze
their workforce's skills strengths, gaps, and trends with flexible
and easy-to-use business intelligence tools. As a result, HR
leaders can help their organization nurture the right skills and
quickly fill skills gaps.
- Integrated skills intelligence: Enables HR leaders to
seamlessly leverage third-party skills data and labor market
analytics, such as those from Lightcast, a provider of trusted
global labor market data, analytics, and expert guidance. As a
result, HR leaders can help their organization expand insights and
make more informed talent decisions.
- Skills curation and management: Enables HR leaders to
browse, add, and modify skills with intuitive tools to further
refine and personalize their skills library. As a result, HR
leaders can help their organization better manage and define their
skills needs.
- Multiple language support: Enables HR leaders to engage
with skills data in any of the 30 delivered languages, as well as
translate skills data in additional languages as needed for their
global organization. As a result, HR leaders can help their
organization adopt workforce insights across its entire global
operations and further enhance workforce performance.
"Building a strong skills foundation is a top priority
for us at Navy Federal Credit Union. As the way we work – and
the skills needed to do so – continues to rapidly evolve,
it's important that we have visibility into our
organization's skills so that we can easily identify
specific skills needs, maximize
workforce performance, and continue delivering exceptional
service to our members," said Kandi
Thomas, senior technical program manager, Navy Federal
Credit Union. "With Oracle Dynamic Skills, we'll be able to
better understand and leverage the skills of our
organization, gain critical workforce insights, and make more
informed talent decisions. We are eager to take advantage
of the new capabilities being introduced."
Built for the cloud, Oracle Cloud HCM is a complete solution
connecting every human resource process from hire to retire across
an organization with a native employee experience platform and
embedded AI capabilities. By connecting all employee data on a
single platform, HR teams have access to a single source of truth
to help inform their people strategy. In addition, embedded AI acts
as an advisor to help analyze workforce data, generate content, and
augment or automate processes to help improve business
operations.
To learn more about Oracle Cloud HCM, please visit:
oracle.com/human-capital-management.
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Future Product Disclaimer
The preceding is intended to
outline our general product direction. It is intended for
information purposes only, and may not be incorporated into any
contract. It is not a commitment to deliver any material, code, or
functionality, and should not be relied upon in making purchasing
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change and remains at the sole discretion of Oracle
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cause actual results to differ materially. A discussion of such
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including Oracle's most recent reports on Form 10-K and Form 10-Q
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All information in this article is current as of September 11, 2024 and Oracle undertakes no duty
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