Oracle is introducing a new set of tools to help HR teams and business leaders keep track of their employees' ever-shifting skill sets. The new Dynamic Skills is part of the Oracle Fusion Cloud HCM (human capital management) platform. It uses AIto catalog skills and suggest ways that both businesses and workers can leverage those skills.
Oracle is one of many SaaS vendors that's putting a new emphasis on cultivating workforce talent. The ongoing Covid-19 pandemic has changed employee expectations and office norms. As workplaces embrace hybrid work arrangements and manage quickly fluctuating workforces, HR functions need to change as well.
Oracle Dynamic Skills maintains a dynamic record of skills data within an organization, including job titles, employee capabilities, experience and strength of skills. It includes tools for both HR teams and employees who want to leverage this data.
Dynamic Skills is founded on a database of record called Skills Nexus. It provides organizations with a comprehensive view of employee skills across the workforce. It better organizes that data by combining it with publicly available data on skills, qualifications, and occupations from around the world. The idea is that people use different words or phrases to describe similar skills, while new skills arise with new technologies.
"The shelf life of skills is shrinking, and the fight for talent is becoming more competitive every day," Yvette Cameron, SVP of global product strategy for Oracle Cloud HCM, said in a statement. "Businesses need better insights into the skills of their workforce if they want to compete in today's rapidly changing climate."
There's also a recommendation engine called Skills Advisor. It suggests skills for employees to learn and skills that organizations should look for in potential hires. It also leverages Skills Nexus to help employees through HR processes. For example, Oracle Recruiting can connect candidates with open roles related to both declared and inferred skills.
Lastly, employees can use the Skills Center, a personalized portal, to update their skills, find new roles and use learning resources. They can access the Skills Center through any device, including desktop or mobile, as well as via a range of collaboration tools like Slack and Microsoft Teams.
Earlier this year, Oracle introduced its "Journeys" platform on Fusion Cloud HCM to offer employees personalized HR guidance. Other companies are offering similar workforce cultivation tools. For example, last year, Workday introduced its own Journeys to guide employees through transitions such as a job change or maternity leave. Cisco, meanwhile, has added new digital wellness tools to Webex.