AUSTIN, Texas, June 23, 2021 /PRNewswire/ -- Oracle today
announced a new solution to help organizations better understand,
manage, and grow the skills of their workforce. Oracle Dynamic
Skills, part of Oracle Fusion Cloud Human Capital Management
(HCM), gives HR and business leaders the insights needed to ensure
they have the right talent both now and in the future by providing
a comprehensive view of the skills within their workforce. Powered
by artificial intelligence (AI), the new capabilities provide
business leaders with an always up-to-date view of their employees'
skills to help attract, develop, and grow the right
talent.
The skills employees have and need today are constantly
changing. Technology creates the need for new skills almost daily.
Employees are expected to develop skills regularly, and because
many people describe similar skills with different words or
phrases, the pool of potential skills for an organization is
essentially endless. Without a system to collect and track this
continuously evolving data, it's difficult for businesses to have
an accurate understanding of all the skills within their
organization. And without a holistic view of their employees'
skills, business and HR leaders struggle to find the right talent
to support their business strategy.
"The shelf life of skills is shrinking and the fight for talent
is becoming more competitive every day," said Yvette Cameron, senior vice president of global
product strategy, Oracle Cloud HCM. "Businesses need better
insights into the skills of their workforce if they want to compete
in today's rapidly changing climate. With Oracle Cloud HCM, our
customers can gain a better understanding of the skills across
their workforce, where to focus development efforts, and what new
opportunities can be created for the employee and the
organization."
Oracle Dynamic Skills maintains an always-accurate record of
skills data within the organization, including job titles, employee
capabilities, experience, and strength of skills. A complete view
of this data helps HR leaders foster career development, more
effectively plan, make better hires, and develop a highly skilled
workforce. Delivered with Oracle Cloud HCM, Oracle Dynamic Skills
includes:
- Skills Nexus: A continually updated database of record
that provides organizations with a comprehensive view of employee
skills across their workforce. This helps HR and business
leaders better understand the skills of their workforce, where gaps
exist, and which skills need to be developed or acquired. Skills
Nexus takes publicly available data on skills, qualifications, and
occupations from around the world, combines it with similar
information from within the organization, and uses AI to make it
easy for organizations to assign skills to roles. This provides
customers with data on skills that is customized to their business.
Skills Nexus also updates itself based on changing employee skills
[e.g. new skills added to employee profiles or existing skills
updated during performance reviews] and new skills acquired through
recruiting. This gives Oracle Cloud HCM customers an
always-accurate view of their organization's skills so that HR
leaders and managers can make more informed decisions about project
resourcing, training, and hiring.
- Skills Advisor: A powerful recommendation engine that
uses AI to recommend what skills employees should learn, what
skills organizations should hire for in specific roles, and which
candidates have the right skills for open positions. This helps HR
leaders develop their workforce by finding the right talent to
support their business needs. Skills Advisor also helps employees
by using insights from Skills Nexus to deliver recommendations
throughout HR processes. For example, in Oracle Recruiting, it can
connect candidates with open roles related to both declared and
inferred skills. And in Oracle Learning, a learning experience
system within Oracle Cloud HCM, it can recommend courses to learn
new skills based on individual career goals. Skills Advisor also
uses natural language processing to understand different
descriptions of similar skills. This helps candidates and employees
find the right opportunities no matter how they define their
abilities.
- Skills Center: A personalized portal for employees to
update their skills, find new roles, and engage in learning
resources. By making it easy for employees to track progress
towards career goals and take action to further professional
development, Skill Center helps organizations increase employee
engagement and the skills of their workforce. It uses data from
Skills Nexus and insights from Skills Advisor to deliver actionable
recommendations for employees. Potential actions can include
completing a training course, meeting a mentor, or gaining new
experiences through short-term projects. Skills Center can be
accessed through any device, including desktop, mobile, Oracle
Digital Assistant, and collaboration solutions such as Slack and
Microsoft Teams.
"Coming out of the pandemic, the talent economy is in a really
interesting place. Many people took time during lockdown to
reevaluate their career choices and consider new opportunities for
growth. This is putting pressure on organizations and HR leaders to
double down on both recruitment and retention. But regardless, the
foundation of their strategies should be centered around one thing:
skills," said Lisa Rowan, research
vice president, HR software & services research at IDC. "Skills
are at the core of understanding your talent. Oracle's new Dynamic
Skills offering is designed to help organizations take a more
proactive approach to skills, truly harness the power of skills
within their workforce, and motivate existing talent to achieve
more in their careers."
See here for more information about Oracle Dynamic
Skills: http://www.oracle.com/human-capital-management/skills/
To learn more about Oracle Fusion Cloud HCM, please
visit: https://www.oracle.com/human-capital-management
About Oracle
Oracle offers integrated suites of
applications plus secure, autonomous infrastructure in the Oracle
Cloud. For more information about Oracle (NYSE: ORCL), please visit
us at oracle.com.
Trademarks
Oracle, Java, and MySQL are
registered trademarks of Oracle Corporation.
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SOURCE Oracle