Blog

What Makes Oracle Cloud HCM a Must-have for the Modern Retail Firms

By July 31, 2020October 13th, 2020No Comments

Human Capital Management (HCM) solution is all about enabling businesses to manage their human resources across all aspects of employee needs. The immediate considerations might be attendance and payroll, but additional ones could be training and development, recruitment and onboarding, as well as overall employee performance. Implementing the right HCM solution can seem like a daunting challenge, but if done right, it can work wonders for employee-intensive businesses like the retailer’s profit margin while improving employee engagement and motivation. Oracle Cloud HCM is a complete solution connecting every human resource process from hire to retire — including global HR, workforce management, talent management, and payroll. In the COVID era, it is one of the most preferred cloud HCM solutions in the retail industry. It is one of the most connected solutions across an enterprise, with one cloud unifying HCM across supply chain, finance, and customer experience.

The Oracle Cloud HCM Products that Skyrocket Business Efficiency and Agility

Global HR

Use a single global HR solution to align common global HR processes, support local compliance needs across multiple countries, and engage your workforce.

Talent Management

Manage the entire talent lifecycle including recruiting, career development, learning, talent reviews, and succession planning.

Workforce Rewards

Attract and retain talent with differentiated rewards, and address simple and complex organizational remuneration needs.

Let’s discuss what value Oracle Cloud HCM adds to retail businesses helping them stay afloat and maintain a competitive edge even during this tough time.

Enables the delivery of human experience at work

Oracle Cloud HCM allows retail firms to deliver the experiences their employees expect, leveraging familiar technologies that empower them to do their best work. Engaging with the system is as easy as a typical conversation, through a voice-based UI and a digital assistant to get prompt answers and execute processes from any device. Guided step-by-step workflows convert complex transactions simple and intuitive. And the experience is personalized, supporting the users with relevant content, insights, and actions to help boost productivity.

Helps increase business agility

The cutting-edge human capital management tool helps you adapt your people strategy to the ever-increasing pace of change with a comprehensive HCM solution that unifies every process across the employee lifecycle. One data source for your HR data provides comprehensive, accurate, and real-time visibility across your workforce, enabling you to make faster and smarter decisions. The consumer-simple configuration options in the solution empower HRs to tailor workflows with fields, smart defaults, and automation improving agility and scalability while reducing dependence on IT.

Helps outpace change with innovations

The solution leverages Artificial Intelligence and other disrupting technologies to make your workflows smarter and keep you one step ahead of your competitors. By deploying Oracle Cloud HCM, you are assured of continuous upgrades and innovations.

Facts and Numbers Retailers Must Know to Improve Competitiveness

  • 74% of retail employee turnover is driven by employees looking for faster development and advancement opportunities
  • 61% of retail companies are adding career-pathing opportunities
  • 54% of retailers are introducing training and employee development programs
  • 74% of organizations plan to increase their spend on mobile learning in the next 12 – 18 months.
  • 75% of organizations believe a strong employer brand significantly impacts their capability to hire high-prospect candidates
  • 73% of job seekers in the age bracket of 18 – 34 found their last job via social media, with the most popular sites being LinkedIn (23%), Facebook (19%), Google+ (16%), Instagram (16%), Twitter (13%) and other (13%).
  • 60% of businesses leverage social collaboration tools to get their work done

The ‘Forrester Wave™: Cloud Human Capital Management Suites, Q2 2020’ considers Oracle Cloud HCM as a good option for larger, multinational organizations having over 5,000 employees with more sophisticated HCM needs, including those using legacy Oracle on-premises solutions.

Considering the serious global urge for improved employee management mechanism during the COVID era, more than 50% of the decision-makers of retail businesses across the globe are now mulling over either adopting for the first time or switching to a better HCM solution provider. What’s your take on this?

Leave a Reply