How Oracle helps organisations build a more agile workforce

AI-powered Dynamic Skills solution in Oracle Cloud HCM allows HR leaders to identify skills gaps and foster career development for employees.

Oracle today announced a new solution to help organisations 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. It does this by providing a comprehensive view of the skills within its 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 organisation 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 organisation. 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 organisation.”

Oracle Dynamic Skills maintains an always-accurate record of skills data within the organisation, 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 organisations 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 organisation and uses AI to make it easy for organisations to assign skills to roles. This provides customers with data on skills that is customised 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 organisation’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 organisations 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, Oracle Recruiting 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 personalised 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 organisations increase employee engagement and workforce skills. 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.

READ MORE:

“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 growth opportunities. This is putting pressure on organisations and HR leaders to double down on both recruitment and retention. But regardless, the foundation of their strategies should be centred 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 organisations 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.”

For more news from Top Business Tech, don’t forget to subscribe to our daily bulletin!

Follow us on LinkedIn and Twitter

Luke Conrad

Technology & Marketing Enthusiast

Why microgrids are big news

Craig Tropea • 31st October 2024

As the world continues its march towards a greener future, businesses, communities, and individuals alike are all increasingly turning towards renewable energy sources to power their operations. What is most interesting, though, is how many of them are taking the pro-active position of researching, selecting, and implementing their preferred solutions without the assistance of traditional...

Is automation the silver bullet for customer retention?

Carter Busse • 22nd October 2024

CX innovation has accelerated rapidly since 2020, as business and consumer expectations evolved dramatically during the Covid-19 pandemic. Now, finding the best way to engage and respond to customers has become a top business priority and a key business challenge. Not only do customers expect the highest standard, but companies are prioritising superb CX to...

Automated Testing Tools and Their Impact on Software Quality

Natalia Yanchii • 09th October 2024

Test automation refers to using specialized software tools and frameworks to automate the execution of test cases, thereby reducing the time and effort required for manual testing. This approach ensures that automation tests run quickly and consistently, allowing development teams to identify and resolve defects more effectively. Test automation provides greater accuracy by eliminating human...

Custom Software Development

Natalia Yanchii • 04th October 2024

There is a wide performance gap between industry-leading companies and other market players. What helps these top businesses outperform their competitors? McKinsey & Company researchers are confident that these are digital technologies and custom software solutions. Nearly 70% of the top performers develop their proprietary products to differentiate themselves from competitors and drive growth. As...

The Impact of Test Automation on Software Quality

Natalia Yanchii • 04th October 2024

Software systems have become highly complex now, with multiple interconnected components, diverse user interfaces, and business logic. To ensure quality, QA engineers thoroughly test these systems through either automated or manual testing. At Testlum, we met many software development teams who were pressured to deliver new features and updates at a faster pace. The manual...

The Impact of Test Automation on Software Quality

Natalia Yanchii • 03rd October 2024

Software systems have become highly complex now, with multiple interconnected components, diverse user interfaces, and business logic. To ensure quality, QA engineers thoroughly test these systems through either automated or manual testing.

Custom Software Development

Natalia Yanchii • 03rd October 2024

There is a wide performance gap between industry-leading companies and other market players. What helps these top businesses outperform their competitors? McKinsey & Company researchers are confident that these are digital technologies and custom software solutions. Nearly 70% of the top performers develop their proprietary products to differentiate themselves from competitors and drive growth. As...