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
Oracle 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.”
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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.
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