Find and Keep the Best Talent in a Competitive Market

More than half (55 percent) of people currently in the workforce say they’re likely to look for a new job in the next 12 months, according to a survey from Bankrate. Companies need to act quickly to create “the irresistible organization” (Bersin, The Definitive Guide 2021) to attract and retain top talent. Let’s look at three key factors to creating the elusive “irresistible organization”.

People Analytics

Companies need to quickly and easily understand their workforce needs if they want to attract and retain top talent. But only 11 percent of organizations (Deloitte, Global Human Capital Trends survey) can produce information on the state of their workforce in real-time. It’s hard to collect, clean, and draw insights from data, but it’s even harder when you have to integrate data from multiple systems—which is usually the case. With Oracle Fusion HCM Analytics, it’s easy to bring that data to life in a cohesive story, helping you improve the employee experience and retain top talent. Voice-driven and predictive analytics let HR and people managers ask any question and get answers in a visually compelling way, no matter where they are. Consequently, the end user doesn’t need to know where the data resides, whether in Oracle or in SAP. As employees work from different locations and work flexibility grows, HCM Analytics make it simpler to gather data and insights across the organization, helping HR leaders better recruit, retain, and forecast talent needs.

Employee Experience

Now more than ever, employee experience is paramount. Communicating with, connecting to, and supporting employees is vital not only during a crisis, but also during their everyday lives. Employers need tools to better engage and support employees while making work more personal and productive.

Oracle Journeys can help you enhance the employee experience by creating and delivering personalized support for your people. It provides access to all the resources employees need to tackle their biggest challenges: personal, professional, administrative, or operational. For example, HR managers can create “journeys” or step-by-step guides to walk employees through major events including onboarding, growing their career, launching a new product, working from home policies, or even taking medical leave. These experiences are tailored to each individual, delivered at the right time, and readily available via desktops, mobile devices, Oracle Digital Assistant, and collaboration platforms like Slack and Microsoft Teams.

Skills Management

Companies need to plan for long-term growth while building the agility to quickly pivot when necessary. To do that, they need to know at any point in time what skills they have on hand and where they need to invest, train, or acquire. Oracle Dynamic Skills can help you continuously detect, manage, and grow the skills that fuel your talent supply chain. It helps you answer a critical capability question: Do we have the right talent now and for the future?

Oracle Cloud HCM also lets employees build personal profiles, network with one another, and even compete in wellness and volunteering challenges to improve employee engagement and better align with their personal lives. Successful organizations like Kraft Heinz, Deutsche Telekom, and Unilever have collaborated with Oracle to create irresistible experiences to attract and support employees—including modern, mobile user experiences across every one of their devices.

Supplier Intelligence and AI

If the company depends on key suppliers for business success, Oracle can help monitor factors such as a supplier's production capacity, regulatory certifications, codes of conduct, financial strength and more. Even good suppliers can make bad mistakes. That's why you need an additional layer of risk assessment. A source that provides up-to-date information about events that could negatively impact supplier delivery times so that disruptions are avoided.

Oracle has integrated Supplier Intelligence with Oracle Cloud Procurement. The solution uses natural language to search the web for supplier information, process it using AI, filter and score the information with user-defined parameters, and alert procurement professionals in real time. And when you're in the final stages of supplier selection, AI can collect and validate information on millions of companies.

Cloud Procurement

Oracle has introduced several updates to Oracle Cloud Procurement that can help reduce costs, including new spend and procurement analytics. This provides a holistic view of procurement and supplier performance across the enterprise. Spend classification helps to understand a company's spending patterns and gain visibility into purchasing activities. Using machine learning to classify spend data into logical categories can eliminate manual effort and reduce human error.

When a potential supplier responds to a screening questionnaire, internal stakeholders can now provide feedback on those responses, which helps provide a more complete and accurate assessment of the supplier's capabilities, environmental impact and risk. Companies can also ensure that contractors and subcontractors adhere to negotiated payment terms, and gain visibility into how services are spent at each payment stage.

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