The Dynamics Skills feature in Cloud HCM is designed to help enterprises keep a tab on their current and future skills requirement.
Oracle has updated its Fusion Cloud Human Capital Management (HCM) suite with a new AI-powered feature, dubbed Oracle Dynamic Skills.
The Dynamics Skills feature within Fusion Cloud HCM is expected to help enterprises keep tabs on their current and future requirement of skills, said Natalia Rachelson, Oracle鈥檚 group vice president of Fusion Cloud Applications. The features were announced at the conference.
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鈥淪kills are quickly becoming the primary metric to understanding the capabilities of an enterprise. Having a skills-based talent strategy can help an enterprise uncover critical work and workforce insights, tap into more diverse talent, and maximize performance,鈥� Rachelson said.
However, Dynamic Skills is not new and was initially introduced in June 2021 as part of Fusion Cloud HCM. What鈥檚 new though are the AI-powered capabilities, which according to Oracle, provide a complete view of skills woven into processes across the enterprise and can help it optimize its workforce performance, planning, budgeting, and reskilling or upskilling efforts.
The new AI-powered capabilities include a skills inventory, a skills library, skills data analysis, and integrated skills intelligence.
While the skills inventory capability allows enterprise HR teams to gain a complete and updated catalog of their organization鈥檚 skills that can be modified or refined, the skills library in Dynamic Skills is designed to help HR teams jumpstart their skills journey with an extensive pre-populated library of all skills currently available.
Rachelson explained that Dynamics Skills allows enterprises to combine skills data from across the enterprise and third-party sources as well, including LightCast 鈥� a provider of labor market analytics.
The new feature would enable HR teams to analyze their workforce鈥檚 skills strengths, gaps, and trends with flexible and easy-to-use business intelligence tools, Rachelson said.
The new feature would also allow HR teams to add and modify skills with intuitive tools to further refine and personalize their skills library.
鈥淎s a result, HR leaders can help their organization better manage and define their skills needs,鈥� Rachelson said. The feature is delivered in over 30 languages.
In April 2022, Oracle introduced a new employee experience platform, dubbed Oracle ME, under its Fusion Cloud Human Capital Management (HCM) suite to help enterprises with workforce challenges such as attrition.
Oracle ME鈥檚 built-in tools offered capabilities such as tracking employee sentiment, offering contextual advice to leaders including HR personnel while they are making decisions about staff, helping employees navigate HR processes, providing personalized communications, and offering support with the help of self-service tools.
