2019 Global Human Capital Trends | Oracle HCM cloud differentiators
Leading the social enterprise to reinvent with a human focus
Intensifying economic, social, and political issues are challenging organizations to reinvent themselves as social enterprises, engaging with stakeholders and cultivating performance in a human way.
In 2019, an intensifying combination of economic, social, and political issues is challenging business strategies. Business leaders find themselves faced with challenges that include the relentless acceleration of cognitive technologies, the pressure to transform digitally, and new pressures to adapt to a far more diverse workforce.
While these may seem like timeless human capital problems, today they are arising in a whole new context: the social enterprise. The 10 human capital trends we explore in this year’s report come together to force organizations to move beyond mission statements and philanthropy to learn to lead the social enterprise.
2019 Deloitte Global Human Capital Trends A Financial Services PerspectiveDownload the PDF
What is a social enterprise?
A social enterprise is an organization whose mission combines revenue growth and profit-making with the need to respect and support its environment and stakeholder network. This includes listening to, investing in, and actively managing the trends that are shaping today’s world. It is an organization that shoulders its responsibility to be a good citizen (both inside and outside the organization), serving as a role model for its peers and promoting a high degree of collaboration at every level of the organization.
Explore the trends
Organizations should look to a single system to enable the management of
Organizations should leverage automation to reduce time consuming
Organizations should become agile and be able to adapt
HR should take the lead in
Nurture cross-functional teams by leveraging digital enterprise solutions
Build relationships with workers to understand their needs and then design
Reinvent the talent acquisition mindset by finding new ways
Integrate real-time learning into the flow of life, building personalized
Leverage talent profiles, succession planning,
With HR cloud as the foundation, organizations should shift their energies
The alternative workforce:
It’s now mainstream
Organizations should look to a single system to enable the management of all workers, including casual, seasonal, contingent, gig and freelance workers, leveraging common access to talent and learning initiatives and in some cases time and absence, total rewards, and payroll functionality.
From jobs to superjobs
Organizations should leverage automation to reduce time consuming work activities, freeing employees to focus on additional work outside of their standard roles. Use systems to define new job architecture and develop job and talent profiles that define the capabilities the organization needs in a workforce assisted by AI and robotics.
Leadership for the 21st century:
The intersection of the traditional and the new
Organizations should become agile and be able to adapt to ever changing times by facilitating cross- skilling and upskilling that develops current and future leaders, helping leaders to manage new ways of working and new types of workers. Leverage advanced reporting and predictive analysis to offer leaders a transparent view of their workforce.
From employee experience to human experience:
Putting meaning back into work
HR should take the lead in a cross-functional effort to define and improve the human experience at work. Leverage single-platform technology to transform shared services across the organization, automate traditional responsibilities, and introduce social interaction to work roles in ways that are accessible across devices. Promote well-being activities, like wellness and volunteer initiatives.
It’s a team sport
Nurture cross-functional teams by leveraging digital enterprise solutions to enable the organization to identify team members, set team goals, and manage team performance. Cascade organizational goals to teams and individual goals to help ensure performance is aligned with the organizational mission.
Closing the gap
Build relationships with workers to understand their needs and then design and configure rewards around those expectations, using a mix of tangible and intangible benefits, like monetary rewards and compensatory time rewards. Consider enabling the ability for employees to build individualized rewards packages that meet their specific needs. Provide visibility to tangible and intangible benefits through total rewards statements.
Winning the war on the home front
Leverage talent profiles, succession planning, and career development tools to analyze the current workforce and anticipate future workforce needs and identify internal talent to fill those needs. Enable a culture that promotes internal mobility by advertising openings internally and promoting mobility across geographic regions. Encourage cross-functional learning to prepare employees to move across functions within the organization.
A launch pad, not a destination
With HR cloud as the foundation, organizations should shift their energies to transformational activities enabled by HR cloud, such as enabling transformations through operational model redesign and employee experience. Leverage conversation agents to automate actions and data entry.
Key Oracle HCM Cloud Enablers
The Future of the Workforce
Oracle HCM Cloud enables workers to be managed collectively, promoting engagement, collaboration and productivity. Location based access allows workers to use their own devices when they are in proximity of the organization’s network for ease of use and adherence to compliance protocols. As the use of contingent workers grow, it is important to provide them with learning, career development and meaningful work experiences in the same ways as other workers. Skill/experience libraries help organizations to manage technical skills, competencies, capabilities, values, and experiences consistently for all workers, providing a framework that promotes a common language of talent and the ability to define jobs, roles, job families and other work criteria.
Talent profiles can be constructed and populated with rigor to enable talent dashboards that glean insights into the capabilities of the workforce, helping to personalize targeted and embedded learning for each employee. AI then maps people for fit approximation by using data in job/position profiles and workers’ talent profiles.
Primary Enabling Modules: Global HR, Workforce Management, Talent Management, Workforce Predictions, Workforce Modeling
The Future of the Organization
Oracle HCM Cloud helps engage today’s workforce with conversational experiences, using their interaction channel of choice, such as digital and voice assistants, and SMS text, making it simple and intuitive to get their HR tasks done. Personalizations enable employees to bring their “full self” to work by focusing relevant data in their directory and talent profile, publishing their non-work interests and hobbies, and making it easier to connect with peers and opportunities that are related through volunteering, mentoring, and learning communities.
Enabling collaboration through cascaded goals, goal sharing, anytime feedback and matrix management can help teams become high performing and transparent. Survey capabilities allow for pulse feedback, engagement feedback, as well as stay interview and exit interviews, enabling organizations to gain powerful insights into how the organization is doing and how the organization can improve in the future.
Primary Enabling Modules: Talent Management, Global HR, Work Life Solutions
The Future of HR
Talent profiles and directory-driven platforms help organizations find talent and people find each other. Employees can advance their careers through embedded learning, career planning, and consumer grade nudging to make them aware of jobs and opportunities that may be of interest to them. Learning communities enhance career development and on-the-job productivity by generating learning opportunities that aren’t one way. In a connected environment employees are able to request mentors, learn new skills, or take on new roles.
Primary Enabling Modules: Workforce Predictions, Workforce Modeling, Talent Management, Work Life Solutions
Deloitte's annual Global Human Capital Trends report examines the ever-evolving human capital landscape. The Financial Services industry is facing pressure from increased oversight, merger and acquisition activity and the digitization of the consumer experience. These industry trend sare causing many companies to examine their internal talent, organization structures and drive new ways to deliver business solutions. Learn more from the 2019 Deloitte Global Human Capital Trends A Financial Services Perspective.
The complete Global Human Capital Trends 2019 report, along with additional archived editions can be found on Deloitte Insights.
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2019 Deloitte Global Human Capital Trends A Financial Services Perspective
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