‘Harmonious’ HCM!

Let us have a look at ‘HR’,before getting into ‘HCM HR (Human Resources).’ HR is defined as a set of traditional employee management systems that includes hiring,job management and position management.

On the other hand, Oracle HCM is a Human Capital Management ERP (Enterprise Resource Planning) application which provides solutions for HR operations, Talent Management, Workforce Management and Workforce Rewards and many other modules.

  1. Workforce Management in HCM involves all HR functions that are related to positive and negative time management including time and labour and absence management.
  2. Talent Management looks at the strategic management of talent throughout the talent lifecycle. It includes sourcing and recruiting candidates, goal, and performance management, learning and career development, talent review, and succession management.
  3. Workforce Rewards refers to all HR functions that manage any monetary or nonmonetary rewards including compensation, benefits, or payroll.

HCM software can be run and accessed in the cloud or on-premises at your company’s location. By leveraging cloud-based HCM software, businesses can significantly reduce maintenance costs, increase access, improve employee experience, and bolster the security of employee records. Additionally, HCM software manages employee data in a database. Leading HCM cloud software providers offer advanced analytics, helping employers gain insights into the best way to manage their employees.

Understanding Cloud based HCM

The cloud and software-as-a-service (SaaS) delivery models are quickly becoming the new normal for HCM technologies. The cloud approach accelerates deployment, turns variable capital expenses into fixed and transparent operating expenses, lowers IT costs, and drives agility by speeding and simplifying upgrade paths.

Benefits of cloud based HCM are:

Enhanced data security. The cloud has rigorous security standards built in, along with AI-based controls to ensure that your security stays ahead of evolving threats.

Flexibility. The move to a remote workforce is a fitting example of the need for flexibility. With a cloud-based HCM system, you can adjust to the needs of a remote or hybrid workforce on the fly, without requiring assistance from a system integrator or IT.

Mobility. A cloud-based system means you and your employees can access the HR information you need on any device, from anywhere.

What is Human Resource Management System(HRMS)?

Oracle Human Resources Management System (HRMS) is a major component of the Oracle E-Business Suite of applications. Oracle HRMS is an integrated suite of applications that supports all aspects of the HR function. It includes: Oracle Human Resources (HR) Oracle Payroll.In Oracle HRMS you can use jobs or positions, or a combination, to define roles. Job: A job is a generic role within a Business Group, which is independent of any single organisation. For example, the jobs Manager and Consultant can occur in many organisations.

Need for HRMS – Cloud Transformation

Given the importance of HR to keep the organisation running efficiently and effectively both now and in the future and with tools and data to help them make the right decisions and demonstrate value.HR professionals have become some of the most mission-critical people in the C-suite.

With a deeper understanding of cloud and digital technology, they can make significant contributions today to create and maintain a productive workplace tomorrow using human resources management systems in the cloud.To align with the business, HR must modernise and transform. To be an agent of change, HR needs to choose the right HRMS in the cloud to manage the entire employee lifecycle.

With disparate, on-premises solutions, core HR functions such as payroll and benefits are processed in separate HRM systems that are not integrated with those used for talent management, workforce optimization, and learning. This disconnect hinders ease of use, diminishes the user experience, and makes data difficult to analyse to obtain valuable insights.

Vital talent management efforts are hampered by a lack of integrated information across all HRMS systems. And HR activities are carried out less efficiently and with less insight than they could be if a single system of record and a cloud-based deployment model were in place.

Read: 5x Improve Employee Productivity & Tasks with Unified HRMS app

Therefore, Organisations that are still using disparate HR solutions are missing the very benefits that could prove their strategic worth to the enterprise, including the following:

Reduced HR costs

While HR has traditionally relied on IT to maintain their on-premises HR systems, mature, cloud-based HR solutions are changing that. Cloud-based HRM solutions are easy to configure and adapt over time, giving control back to HR while significantly reducing the number of employees needed to deploy, manage, and support them.

Rapid HR innovation

For an on-premises HRMS, any upgrade is a major upgrade—one that requires critical time and expense to implement across multiple machines. In contrast, the cloud offers huge reductions in deployment times and easy, instant access to updates and innovation. As a result, your organisation reaps the benefits much more quickly.

Why do customers Move from On-Premises HRMS to HCM Cloud?

HRMS Business Value

Customers can easily upgrade to our powerful HR cloud software to drive greater business value through elegant user engagement, streamlined processes, increased productivity, and lower cost of ownership.

Personal and Modern User Experience

Human Capital Management solutions in the cloud combine simplicity and intelligence to make work more personalised. Not just user-friendly, modern HR software understands employee interests to tailor areas—profile, learning, mentors, and roles—to evolve over time.

 Data Security and Privacy Controls

By moving your HRMS to the Cloud, organisations get multilayered security features, data encryption by default, and state-of-the-art data centres. Our HR cloud platform offers identity and security management, scalability, availability, and performance by running on our best-in-class Cloud Infrastructure.

Future of HRMS

The 21st-century economy is full of emerging technologies to explore. Successful organisations are leveraging innovative human resources systems so they can take care of their employees, who can then take care of their customers. Adaptive intelligence and machine learning augment what has not been humanly possible before; they are the underlying drivers to creating a smarter and more enjoyable employee experience.

For example:

  • Chatbots serve constituents faster and more efficiently with answers.
  • AI (Artificial Intelligence) augments what is not humanly possible, such as quickly mining thousands of resumes and data points to find best-fit candidates.

While traditional hierarchical structures are changing, the workforce is transforming as well—into flatter, more agile networks of teams, becoming more mobile, global, and diverse.