Large organizations need an interface or a Human Cloud Management system to manage their large workforce. From recruiting employees to promoting or rewarding them, an HCM system is a backbone for a large organization. There are many such HCM systems available, but choosing the right one is difficult. One such HCM system is Oracle HCM Cloud.
What are the features available in Oracle HCM Cloud?
1) It keeps a database of employees
Large companies have over thousands of employees on their payroll. It is not humanly possible to keep track of all the information about the employees manually. A robust system is needed that will not only store the data of the employees, but would also prompt all the information relevant to the concerned employee by choosing certain functionalities that would give accurate results. Oracle HCM cloud does that work as it banks on the cloud technology, meaning storing a lot of information without consuming your space on your network.
As now everything is done over the web, Oracle HCM Cloud helps in onboarding of employees, giving all tools, educational videos about his new role, and other training modules to make him prepare for the job. The employee can go through it, and gets onboard right from his laptop. The earlier practice to have 3 to 4 days of induction has been done away with now, with the advent of Oracle HCM Cloud.
3) Performance Management
Probably, the most important function in Oracle HCM Cloud is managing the performance of the employees, finding out where they are missing out, helping them overcome it, and determining the top performers and rewarding and promoting them. Using this application, metrics could be inserted into the system that would measure the performance of employees, and segregate top performers from average or mediocre employees. Know the difference between 1099 vs w2
4) Self-service portal
Employees can use Oracle HCM Cloud on their own. It’s self-service, meaning they can use it for marking their attendance, leaves, or other requests to their managers. This helps in documenting all details to help the organization runs smoothly in regards to all HR related matters.
5) Payroll management
This system helps in managing the payrolls. As absences, leaves, and attendance are all marked in the system, it helps to make pay to thousands of employees accurately as it would be linked to the accounts department. Hence, managing payroll through Oracle HCM Cloud becomes an easy task.
6) Recruitment management
Recruiting employees is not an easy job in a large organization. It has to go through various channels. For example, if there is a shortage of workforce in a project, the team leader makes a request for a recruitment through Oracle HCM Cloud. If it gets approved by his immediate manager, it is passed on to the recruitment team to do the needful. Hence, having a system like Oracle HCM Cloud makes it a great feature to have in a big organization.
7) Employees’ profiles
Managing employees’ profiles forever is a tough job for any software. But Oracle HCM Cloud does that job for you. It gives every employee’s profile a unique ID that helps to collect all information regarding him or her accurately and deliver as and when required. Overall, keeping employees’ profile safe and secure is one of the main features of Oracle HCM Cloud.
8) Compensation management
Compensation management is important in an organization so that every employee of the company is compensated accurately, without any confusion. It’s not just about the salary, but also about allowances, bonuses, perks, performance-related rewards that this tool helps the organization to keep a track of, and compensate their employees effectively.
Pros of Oracle HCM Cloud
a) The dashboard of Oracle HCM Cloud is user-friendly and can be used in both desktops and mobiles, which makes it easy to use it on the go.
b) It’s not just limited to attendance or leave marking or performance management. A lot more can be done using Oracle HCM Cloud. For example, there is advanced features such as compensation-based analytics and total rewards statement that give the software an extra edge over the peers.
c) It creates a global directory as it contains all the employees’ data from across the world where the company has its presence. This would help employees stay connected through one software.
d) Cloud technology is in vogue now. It puts data on the cloud, saving a lot of space, giving you more infrastructure for other better needs of the organization.
e) Oracle HCM Cloud also offers virtual assistant for those who are not so well-versed in the technology and needs a little bit push from the software to get the information they need.
f) Security, performances, and easy interface are some of the other pros of using Oracle HCM Cloud. It promises data are safe, and easy to maintain. It promises to give a sound performance, and its easy interface makes it a must-buy HCM system.
Cons of Oracle HCM Cloud
A bit costly for start-ups: Oracle HCM Cloud is meant to store information for a large database of employees. And hence, it might not be suitable for start-ups, but it’s not that start-ups cannot use the software, but it could prove to be a bit costly for them. Nevertheless, they can still go ahead and use the Oracle HCM Cloud system to manage their workforce.
It has many checks points: Users might find it bit annoying with the various check points when using the various features on Oracle HCM Cloud, but it is part of the security system and meant to keep the large database safe and secure, even though it is on the cloud.
Data not exportable in all formats: Oracle HCM Cloud has some security modules in place that do not allow data to be exported in all formats. Although it may be cumbersome for some users, but it is only meant to heighten the security system, and to make sure, its information, and data are not misused.
Workflows not customizable: Some workflows have not been kept flexible and is not customizable. Some information are considered exclusive, and hence, this customizable feature has been disabled for some workflows.