Video: Oracle Fusion Talent Management - A strategic approach to build motivated talent pool
Guest post by
Biplab Saha, Consultant, Infosys
Hello everyone! My name is Biplab Saha. I am part of Infosys Oracle Fusion Applications COE and today I will briefly talk about Oracle Fusion Talent Management Solution and how it can be used to build motivated talent pool.
In today's volatile business environment, getting right talent at the right time and managing those talents efficiently is vital for any organization. Effective talent management is very important to boost the performance of the organizations and create long term success.
According to various survey results, developing and retaining right talent is a top priority of most of the organizations. Hiring best talent at higher costs can suffice the purpose temporarily but not solve the problem in long run. It is important for the organizations to manage the existing human capital in an effective way to gain competitive advantage. However, in reality, most of the organizations face challenges to streamline their human capital system to effectively manage their talents.
For effective human capital management, I feel organizations might look into certain drivers that motivate the workers. These drivers are:
- pay for performance,
- fair talent assessment,
- personal development,
- opportunities and appreciations.
To manage these drivers effectively, I believe, organizations should look into Oracle Fusion's Talent Management Modules. For example:
ORACLE FUSION COMPENSATION MANAGEMENT empowers organizations to tactically design, allot and communicate compensation in a better way. Best-in-class analytics and total compensation view of an employee or a group of employees at the same time, irrespective of their geographic location or pay components enables organizations to take better decision. Integration of compensation and talent management results effective management of pay for performance.
PERFORMANCE MANAGEMENT enables employees to do point-in-time evaluation of their performance and move efficiently in the performance process. Enhanced performance management features facilitate organizations' to easily configure performance processes as per the business needs. Using embedded business intelligence, managers can efficiently monitor and manage individual's performance.
Enhanced GOAL MANAGEMENT fosters work collaboration among workforce through goal sharing. It also empowers employees to build their own career development plan and keep track of their career growth. Integration of goal and performance management enables organizations to do point-in-time assessment of the goal achievements.
NETWORK @ WORK module provides industry leading collaborative framework. It facilitates workers to build their own social network within the organization and share ideas in open forum. It enables high performers to get public recognition and seek better opportunities. It also empowers managers to keep track of the efficient workers and place them for the right job.
TALENT REVIEW module can be used as a tool to quickly identify and assess top talents. Interactive matrix of talent review Dashboard empowers managers to see individual talent details for a team or set of teams. Using the performance to potential matrix, managers can view the broad picture of talent landscape and fit their workforce efficiently. Effective job fit motivates the workforce and improves company's productivity.
In conclusion, I must say that for long term success, it is critical for the organizations to build talent pool of motivated workforce. To do that, it is important to focus on the motivational drivers. Using the enhanced talent management solution of Oracle Fusion HCM, organizations can streamline their talent management processes and effectively manage the motivational drivers. Better talent management solutions will not only help the organizations to sustain in the challenging business environment but will also help to gain competitive advantage.
This was my view on Oracle Fusion Talent Management Solution and its capabilities to build effective talent pool. Thanks for hearing me. Have a great day!