Oracle HCM Cloud is a human resources (HR) management software solution designed to convert paper-based office work to a digital format. It helps you in managing the benefits, compensations, and salaries of your employees. It can track each staff member and applicant of the company. It can also report and analyze performance and attendance. With all these features, Oracle HCM Cloud combines all of the various functions of an HR department into a centralized platform.
Oracle HCM Cloud Features
Oracle HCM Cloud is a cloud-based solution that enables you to streamline nearly every aspect of the management of your employees. You can manage, track, and calculate salaries or incentives. Employees can be monitored regardless of whether they’re working in the office or at home. You can also plan successions for positions, application and the training of new members, development of each prospect’s careers, and pay them with a few clicks.
Employee Management
This feature helps you examine and monitor every single staff member in the company. It uses a dashboard with portals linked to each employee profile. With this, you have access to their profile and review details such as the tasks they’ve done for the month and the coworkers they have in their workspace. All profiles are publicly accessible by you or other users.
One important detail regarding your staff in these profiles is their employment statuses. This includes the position they were hired for, whether they are contractual or permanent, and their eligibility for payments and benefits.
The organization of each profile and department comes up on a chart on the dashboard. You can modify this according to your own preferences and even add single-action buttons. These can be used to simplify different functions such as terminating their contract or changing their job position.
Another tool in this feature is the help desk. Designed to give seamless HR service to your employees, they can use this to create a variety of requests. You can review the issues they create and, depending on the situation, you can assign a point person in the department to handle it. Categories for this feature include employee compensations, vacation time, or other miscellaneous HR concerns. Each request is sent individually to help you check them on a case-to-case basis.
Finally, there is also an incidents tool. This part of the feature helps you handle different emergencies in the work environment such as health issues or violation notices. You can create an incident report depending on the nature of the incident and then send them to the appropriate departments concerned. This also comes with a safety dashboard that lets you track and predict possible situations.
Compensation and Applicant Tracking
Another important feature is the compensations system. Using the profiles, you can view each employee’s listed benefits based on their contracts. You can use it to keep track of what they are owed and if ever they get into work-related mishaps. You can also use it to update their plan if you opt to include benefits.
As part of this feature, you can track your employees when they are on vacation. This follows how many days they’ve been away and the start and ending dates of their leave. It also alerts you when certain employees end up extending their vacations without submitting a request for an extension.
Tracking can also apply to applications for job positions. You can check each new applicant’s resume, set dates and times for your interviews, and be notified of their responses. You can also use this to view skills and qualifications, references, and previous employers.
Aside from new applicants, you can also check on the career development of your employees. Their attributes can be checked based on performance, which can be rendered as visual reports.
Financial Portals
Payments for salaries and other HR expenses are managed via the dashboard. You can keep track of payment slips to see if they have been given the right amount. This portal also tracks the financial coverage of benefits and compensations.
Checks can be printed through a template for faster distribution to your employees. The money can also be directly deposited into their balances. Additionally, Taxes can be automatically deducted from their paychecks.
The salary system also contains a self-service portal. Employees can use this to fill out their own information for receiving their salary. Checks can also be sent out to different regions and states.
Data Reports and Visuals
Graphical presentations and forecasts of data can be made to help you check on your employees. This data covers a variety of information, for example, such as how your business will be affected by hiring or firing certain employees. Historical data from official reports can be used to predict the performance of staff members or teams and departments. These reports can also use various attributes such as attendance, profit gained, and satisfaction to find the best employees.
Aside from the workforce, you can also analyze and predict performance for the entire company. Workflows can be made and tested by the engine to see how well they perform. You can use this to check on possible efficiency issues or negative trends.
You can also view the factors, costs, and impact of transferring employees. This can help to simulate how the employee’s new office will perform following the transfer. The data can highlight whether they make a significant change.
Oracle HCM Cloud Benefits
Oracle HCM Cloud stands out owing to its streamlined HR platform. It has several key HR functions such as employee and financial management. Different important details for each employee can be viewed and edited quickly through each employee’s profiles.
OracleHCM Cloud’s prediction system is an impressive one. Using historical data and performance reports, you can test and predict how effective each employee will be. This is useful if you need to move them to different offices or locations or hire new recruits to the company. The system can also forecast different organizational plans and restructuring, as well as help you plan your company’s next move.
Unlike other software, Oracle HCM Cloud can aid in preparing for various scenarios, namely thanks to its incident reporting system and compensation tracking. Different incidents can be investigated and resolved with just a few clicks. You can also keep track of your staff on vacation and even track what benefits they are entitled to.
Oracle HCM Cloud Pricing
Oracle HCM Cloud has three different packages available for purchase, each one dependent on how many employees is available in the company. Each one has access to a limited set of features, ranging from financials to health and service. This pricing plan can help you select which features you need for your company. One notable concern is each plan requires a minimum of 1000 employees or users. This means Oracle HCM Cloud is recommended for large-scale companies or businesses with multi-regional outlets.
The first service plan is called “Global Human Resources” and costs $13 per employee. This mostly covers employee management and contains the most features. It is recommended if your company needs software for better planning. The features are:
- Benefits and compensation – Add, edit, and check on different contractual benefits including health and vacation.
- Absences – Check how long your employees are absent from work. This corresponds to their performance report.
- Payroll interface – Manage the payroll of your entire staff with ease.
- Predictive analytics
- Workforce reports
- Employee profiles and database
- Embedded social accounts – View your employees’ contact information and social media accounts.
- Worker rules
- Workflow modeling
- Organization chart – Use an interactive chart to change your company structure and assign positions or jobs.
- Mobile accessibility – Use Oracle HCM Cloud on any phone or tablet device.
The second package deal is called “Human Resources Help Desk” and costs $4 per employee. This covers employee to HR services but requires a subscription to the “Global Human Resources” deal, therefore it is effectively an add-on plan. The features are:
- Service requests – Create templates for different forms that can be used to check benefits or add compensation rights.
- Third-party integration – Integrate a selection of third-party applications.
- Analytics and reporting
- Resolution metrics – Check on the statistical data for each resolved issue and how much it affects your company.
The third package deal is called “Workforce Health and Safety Incidents.” It is individually the cheapest at $2 per user. This covers different emergencies and situations that could harm your employees. It is recommended for companies engaged in hard labor or determined to prevent injuries and accidents. The features are:
- Incident reporting– Quickly fill out reports based on what occurs, including:
- Near accidents
- Injury or illness
- Notice of violation
- Spills or releases
- Unsafe conditions
- Vehicular accidents
- Property damage
- Cause identification
- Pattern monitor – Track and detect the likelihood of incidents to re-evaluate your workspace.
- Safety dashboard
- Role security and privileges – Based on who is affected, you can cover their recovery or compensate appropriately.
- Investigation
Conclusion
Oracle HCM Cloud is a well-rounded HR solution. It has features for all possible functions of the HR department including benefits, incident reports, and salary payment. Key features in Oracle HCM Cloud include a digital help desk, data prediction, and health and safety management. This solution has three different packages for purchase and is a viable option for large-scale companies and enterprises.
