In an era where employees seek more than just a paycheck, Oracle’s approach to employee experience is setting new standards. Through their Elevate, Engage, Excel strategy, Oracle is reshaping how organizations support their workforce. This strategy leverages cutting-edge technology and data analytics to enhance productivity, foster engagement, and streamline operations.
Deepa Param Singhal, Vice President Applications at Oracle India, sheds light on the key elements of this strategy and its impact on the modern workforce. Excerpts:
Can you share some insights on how Oracle’s Elevate, Engage, Excel strategy is designed to enhance employee experience? What are the key elements that contribute to this approach?
Over the past few years, employees around the world have reevaluated their needs, and as a result, expectations for what they want from employers have changed. A steady paycheck is no longer enough; today, individuals want to work for organizations that promote work-life balance, provide career growth opportunities, and make them feel engaged and heard. A critical part of addressing these concerns is supporting the manager-to-employee relationship. Managers need better visibility and tools to understand the needs of their teams and support their success.
Technology has become a key enabler to bring digital transformation and today HR and business leaders are leveraging it to streamline communications across the organization, thereby improving talent retention, offering a more supportive and trusted environment at work. Business leaders are closely looking at all these aspects using comprehensive platforms to support employee success with new solutions for listening, communication, productivity, and engagement. They find it essential as they are aligned towards making a better work environment.
We’re committed to enhance the technological offerings through professional and personal activities, delivering responsive HR service support, and streamlining communication across the organization for a robust response mechanism. ME which is a complete employee experience platform is enabling organizations to increase employee engagement and ensure employee success.
How does Oracle leverage technology and data analytics to create a unified employee experience that ultimately boosts efficiency and productivity?
The adoption of digital technologies in today’s digital work is paramount as well as it is essential to build a strong digital infrastructure across all functions and sectors. Companies are looking at various ways to operationalise the capabilities of new-age technologies with more agile and future ready solutions. With the help of cloud computing, HR will be able to combat modern workforce-related challenges and streamline internal processes. Various organizations are replacing traditional HR frameworks and automated internal processes with the help of cloud-based solutions, to avoid the hassle of manual recordkeeping and data management. Advanced analytics is assisting HR professionals to identify trends, develop new strategies, and even solve problems before they become big enough to impact business.
With the help of Oracle Fusion Cloud HCM solutions, enterprises across industries are transforming their HR framework to improve agility and interoperability.
With analytics based insights, they are able to integrating data on a unified platform to view operations and processes across the organisation and scale growth
These solutions can assist businesses in innovating their human resource practises by providing them with the tools to implement their strategy, empower the workforce, engage and support the community, and make more informed decisions.
How does Oracle measure the success of its employee experience initiatives, and what metrics do you use to assess the impact on productivity and organizational performance?
Success in the digital age depends on workforce agility and resilience. What will underpin this resilience is the opportunity for learning and development within the flow of work. In terms of measurement, there is no single metric that adequately captures the employee experience. It is necessary to pull together a rounded set of insights about EX into your internal analytics solution. This could be traditional metrics such as retention rates or employee engagement but also other metrics such as gender ratio or internal mobility indicators. At Oracle, we support our clients with Fusion Analytics Warehouse, our powerful analytics solution that comes with pre-built KPIs and allows the building of dashboards – perfect for organizations who want to measure the employee experience of their workforce.
Employee experience cannot be measured as a single unit and there are various aspects such as working environment, upskilling opportunities, interpersonal communication and collaboration are part of the bigger picture. For instance, in a financial industry in India, 40-50% of the workforce are agency employees and they expect 70%+ transparency. 60% of this extended workforce would leave an assignment early, due to poor behaviour and/or bad management. 65% are seeking a collaborative and seamless working environment. Additionally, companies who have helped employees upskill have nearly a 7% higher-retention rate, at their 3-year mark.
We also support our customers to deliver a personalized experience that infuses culture, provides targeted communication and ensures accessibility. As the line between professional and personal lives continues to blur, employees expect their work experiences to be personalized, meaningful, and intuitive. Oracle ME, part of Oracle Fusion Cloud HCM, is helping organizations provide experiences that motivate and enable employees to deliver their best work.
Can you share any real-life success stories or case studies of organizations that have adopted Oracle’s approach and witnessed tangible improvements in their employee experience and overall productivity?
Over decades Oracle has developed an understanding of the possibilities and limitations of various businesses to successfully navigate disruption, align their people strategy to support their evolving business and adjust to the ever-accelerating changes and challenges in their business landscape. These challenges range from employee experience to flexibility to automation to scalability to accessibility to culture of innovation, skill gap, empowering talent, performance management, career development, among other things. Using large language models, Oracle’s GROW solution can automate and scale skills mapping, career pathing, succession planning as well as L&D utilising the data that businesses already have. Our Cloud HCM is offering a better integration of digital and human workforces, allowing organisations all over the world to future-proof their operations. Enterprises today are mapping out their business goals, as well as managing their resources and capabilities with greater agility and effectiveness, thanks to cloud-based digital HR technologies. Our game-changing solutions are powerfully creating opportunities for employees and employers to bring max. productivity.
To give you an example, Quess Corp, one of the leading business services providers which has a large and diverse workforce spread across 10 countries, serving over 3600 customers, wanted to integrate their HR platform and needed a system that would cater to the end-to-end journey of their core employees. Oracle HCM stepped in as a single source of truth for their employee data globally. Keeping employee data accurate, complete and all in one place, our solutions consolidated their real-time reports and dashboards for managers, HR and the leadership.
Another great example in the BFSI space is IDFC Bank. With over half the employees being a contingent workforce, creating a single, flexible platform enabled IDFC to seamlessly manage the end-to-end lifecycle of the workforce. A mobile responsive, highly secure, scalable and integrated solution resulted in a risk-free and seamless data flow thereby resulting in an organised employee experience. Seamless onboarding and off boarding experience transformed the way employees interacted with the system. Common organisational structures and approval hierarchies across full time and contingent workforce resulted in a transparent and first of a kind case in the Indian BFSI segment where the entire workforce is on a single Fusion HCM Platform.