Career building: Modern workplace demands new-age skills

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June 28, 2021 8:08 AM

Oracle’s new solution to helps companies build a more agile workforce

modern workplaceTo enable the company’s pursuit of bold strategic moves, the CFO and peer executives should convene a small group of talented executives whose mandate is to focus on strategic planning, with oversight and support from senior management and the board.

The skills employees have and need today are constantly changing. Technology creates the need for new skills 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. In short, 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.”

Recently, Oracle debuted 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 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. “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,” said Cameron.

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.

Deepa Param Singhal, vice-president, HCM, Oracle Asia Pacific, said, “The skill gap in India has been one of the paramount concerns and will continue to be high in demand as skills across jobs will continue to evolve. As per KPMG, in India, more than 75% of firms have redefined their employee engagement and organisation communication strategies to ensure high engagement of their workforce in Covid-19.”

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