On the 5th Day of Giving HR Gave to Me, Five Hours at Time and a Half…

By James Coleman, Contributing Writer 

Give Your Employees an Accurate Accounting of Their Time and Labor

For everyone in the workforce working to make ends meet, payday is hooray day. It always feels special to be rewarded for an honest day’s work, particularly when that day includes a few extra hours at time and a half.

Time and labor applications aren’t the most glamorous, and yet Sierra-Cedar’s 2019—2020 HR Systems Survey reveals these applications continue to be a workhorse in the workforce management category, with an adoption rate of 88%.

Transparency and Ease of Use Are Key 
When tracking time, calculating pay, and allocating vacation and leave, employers need to ensure their employees can understand the processes and policies behind their calculations and see that they’re being applied fairly. Improved scheduling, fewer manual processes, clear visibility into hours worked, and a better understanding of company policies governing time and attendance all lead to a happier, more productive workforce.

As a leader in the 2019 Gartner Magic Quadrant for Cloud HCM Suites for 1,000+ Employee Enterprises for the fourth straight year, Oracle is playing to a strength with our workforce management apps. Our Time and Labor Cloud can:

Improve operational efficiency and time tracking for all employees, whether full-time, nonexempt, project-based, or contingent
Increase productivity by matching shifts with business demands, and automate overtime, premium, differential, and payroll calculations by utilizing a configurable rules engine
Efficiently manage time off globally and support local compliance via a single solution anywhere, anytime from any device
We know that solutions must be easy to use for employees to derive the greatest benefit from them. In his blog post, Further Confessions of an End User, Oracle University consultant Toine de Wit observed that applications are only a means to an end for most people. Anything getting in the way of people doing what they need to do in the system is a drain on both patience and resources. At the end of the day, a good time and labor app will always be timely and never laborious.

More Ways to Make Work More Human 
As we get deeper into the holidays, why not look for more ways to brighten the spirits of your employees and extended workforce? Oracle Workforce Management and Oracle HCM Cloud deliver end-to-end functionality that complements all facets of the employee lifecycle. Contact us to learn more.

The Coming Talent Battle in Financial Services: Hiring Millennials and Gen Z

Millennials and Generation Z are now nearly half of U.S. population, which presents recruitment challenges for banks and insurance firms. With recruiting, onboarding, and talent management best practices changing alongside new generational demands and digital transformation, financial services leadership must adjust or face dimmer hiring prospects. 

Despite doom and gloom, there is guidance in this time of transition. I sat down with David Villaseca, Global Director of Financial Services Industry Solutions here at Oracle to discuss how financial institutions can adjust, from recruiting to onboarding.

Have a read:  

What do younger professionals want in a transforming Financial Services industry?

DV: Banks and insurance firms are fighting the war for talent – and nearly all major banks are starting to look more like technology companies than banks. It’s no surprise given the shortage of talent that banks are turning to digital natives that they can attract from the tech startups and consulting firms. Their message is gaining traction. Younger professionals are no longer only interested in fancy perks at work, but also want employers to connect with their career needs and aspirations.

In the post-digital economy, connecting through new technologies is essential for the Adaptive Bank: one that is intelligent, agile, and integral to customers’ businesses and lives. A recent study by Oracle and Future Workplace of 8,370 employees showed that 64% of people trust a robot more than their manager, with 39% of Generation Z believing that their boss will someday be a robot.

What are the best ways to connect with younger professionals and improve the talent acquisition experience?  How do we integrate an Intelligent candidate-centric experience?

DV: One of the best ways to attract candidates is through effective employer branding, or the sharing of relevant workplace experiences. One example is a comprehensive volunteer program.

A compelling, candidate-centric experience can also attract candidates through multiple channels and campaigns across social media and websites. In the aforementioned Oracle and Future Workplace study, 38% of the millennials and 31% of Gen Z respondents emphasized the importance of better user interactions (versus 26% of the Baby Boomers and 33% of the Gen X) in driving interest towards working at a company.

These first conversations between candidate and potential employer should follow a seamless process, with automated interactions. Artificial Intelligence (AI) powered digital assistants and customized career pages can also help to provide a personalized candidate experience. 

How about onboarding? 

DV: After accepting the offer, new employees demand the same seamless process when onboarding. This personalized and transformative employee experience is enhanced with the same automation and digital assistant solutions they already knew as candidates. 

The orchestrated onboarding process helps new hires to become engaged employees within the company. As they move up the ranks of the organization, talent management solutions help them develop a meaningful career.

What are the implications for banks: Data-driven talent management?DV: Financial services businesses are growing with data-driven customer experiences, powered by AI to better understand the financial lives of their customers, offer better advice, and pitch specific products.  

Now is the time to enhance the candidate experience. A data-driven talent platform helps to recruit, screen, interview, generate offers, and hire Millennials and Gen Z efficiently and collaboratively. Improving human insights into talent management drive stronger offers and better hiring decisions in the current Experience Economy. Learn more on our website and reach out if you are interested. 

About David Villaseca 

David Villaseca builds innovative solutions and content for top EMEA banks and insurers at Oracle Consulting, positioning the cloud and apps. Awarded as a Forbes Top Leader Under 40 and recipient of The Coca-Cola Company Marketing Excellence Award, Villaseca has over 20 years of experience leading financial transformation and helping customers navigate a changing technology market. 

Do you have thoughts about where the financial services industry is headed? Send David a message to continue the conversation. 

On the 4th Day of Giving HR Gave to Me, Four Cloud Migration Benefits…

The relentless pace of change in business means that disruption is the new normal. To compete, companies must break down technology silos to become more agile and efficient in meeting the digital technology demands of their workforce. For company leaders, this means moving on-premise technology to the cloud. 

While talk of moving is easy, execution requires planning. As HR expert Robin Schooling shared in a blog post last month, a successful transition requires a balance of consistent communication, available training, and a cogent strategy, especially since work habits and roles will be changing. Some companies even establish a Center of Excellence (CoE) to ensure the implementation of best practices. 

Successful implementation brings numerous benefits and possibilities, including: 

The unifying of disparate solutions, which increases efficiency while lowering costs since the entire HR organization now integrated on one platform. 
Delivering a singular, best-in-class employee experience supported by access to emerging technology including machine learning and AI. Quality cloud solutions improve productivity and retention, allowing managers to provide feedback, promote employees, and onboard new hires with ease—without incurring slow, costly, and complex upgrade cycles. 
Hyper-personalization, which allows HR to easily configure business requirements, and HR leaders to focus on scaling without relying on IT.
Increased security. Shifting the burden of system security from you to your vendor can also provide you with smart tools to prevent fraud, error, and risk across your entire HR processes.
In this season of giving, wouldn’t managing fewer silos be the biggest gift of all for your business transformation priorities? 

Move to the Cloud Today 
Are you looking to transform your company in preparation for the future of work? See how Oracle HCM Cloud can help at www.oracle.com/hcm, and imagine what a successful migration can do to bring more holiday cheer to your company’s future. 

On the 3rd Day of Giving HR Gave to Me, 3 Hints of Promotion…

Promote from Within with Oracle Talent Management Cloud

There’s no better gift than a promotion at work, which allows both company leadership and the employee to recognize a job well done and potential for future leadership roles. With the tightest labor market in generations, promoting from within is also cheaper than pursuing workers on the open market. 

Knowing who to promote begins well before the sharing of good news. If the right technology is in place, leaders can often peruse their talent pool to understand the skills and experience level of their workforce, whether workers started at the company or not. With AI and machine learning, sometimes the system itself can generate insights on who is on track for recognition. 

Continuous learning and training are also avenues for consideration when promotions are on the table. Leadership can track progress and assign relevant learning paths, whether the choice is to pursue classroom or online enrichment. 

Whether you’re giving a promotion this holiday season or in the new year, it should never come as a surprise, as it’s always a result of hard work and investment from everyone within the organization. Give yourself a pat on the back and know you’re doing the right thing for your company.

Promote from Within with Oracle Talent Management CloudPromote Your Workforce 

Looking to get more from your workforce? Discover our Talent Management Cloud today at www.oracle.com/hcm, and speak to one of our experts to understand how it can be tailored to fit your company’s needs. 
 

What’s on Your HR Table This Thanksgiving?

Thanksgiving is a time of abundance, with families gathering to catch up and spend time together in community. There’s plenty to go around between the turkey, stuffing, pumpkin pie, and festive holiday conversations. 

The holiday is also special because it’s the time of the year to count one’s blessings and reflect on the year gone by. At Oracle HCM Cloud, we’ve had quite a year worth remembering. From honoring our best customers at MBX to showcasing our innovation at Oracle OpenWorld and HR Tech, we’ve had the opportunity to share our story and vision with industry analysts, prospects, and more. 

We’re grateful for the opportunity to help customers migrate to the cloud, whether they’ve been longtime E-Business Suite, PeopleSoft, and JD Edwards customers, or are newer converts moving to the cloud for the very first time who look forward to the future of work.

We’re grateful to be at the cutting edge of HR. With US$6 billion committed annually for research and development and 10,000 annual product updates, our product teams are continuously developing new suites of products that anticipate what work will look like in the years ahead, including how workers will interact with AI. 

We’re grateful for building a user-friendly HCM platform that helps people be more efficient and gives them all the tools they need for a modern experience. 

We’re grateful for customers who partner with us and share their stories of success in the job placement, food and beverage, higher education, and legal industries, among many others. There’s always more to every story, and more people in every industry that will benefit from reading them.

We’re grateful to be recognized by industry analysts for our work, including being named by Gartner for the fourth consecutive year as a leader in the Magic Quadrant for Cloud HCM Suites for 1,000+ employee enterprises. 

Discover Oracle HCM Cloud 
Finally, we’re grateful that you spent some time reading this blog today. Stay tuned to this blog for more analyst content, videos, and posts showcasing HR trends and best practices, or reach out for more information.