Oracle's Modern HR Blog is a content hub for HR professionals and advocates in search of an outlook on topics and trends related to Human Capital Management strategy and technology. Our daily purpose is to stay current with our news and inform you of best practices while providing thoughtful analysis on what it takes to prioritize your company's most extraordinary asset—your people.
We’re currently living and working in one of the most challenging, but exciting business environments there’s ever been.
Heightened levels of public scrutiny and fiscal responsibility mean public sector authorities must deliver more efficiently and effectively than in the past. Technology is causing unprecedented disruption, and changing the world of work as we know it.
Public sector authorities are innovating to embrace new business and services models with the cloud, forcing employees to rethink customer and citizen experience, and prompting digital transformation, including investing in emerging technologies like artificial intelligence, machine learning, internet of things (IoT), and Blockchain, to stay ahead.
Oracle Senior Writer, Linda Currey Post, interviewed Alexandria Smith, the City of Memphis’ new chief human resources, and discussed how the Home of the Blues is rethinking its digital strategy by partnering with Oracle HCM Cloud.
After several years of budget austerity and hiring freezes, morale was low and frustration was high among Memphis city employees. But when Jim Strickland was elected mayor in 2016, he promised to revitalize the city’s workforce and improve the delivery of city services to more than 652,000 residents.
Looking to bring corporate HR practices to the city, Strickland named private-sector veteran Alexandria Smith as the city’s new chief HR officer. The mayor also organized town hall meetings across Memphis to learn firsthand what residents want from city services. At the top of their list: faster responses to 911 calls and a stronger firefighter and police presence.
Oracle HCM Cloud has opened up nominations for the 2019 Rubies Awards. If you know another HR trailblazer, like the City of Memphis, nominations are open through December 21, 2018 and will be announced at next year's Modern Business Experience.
Founded in 1857, the Santander Group is one of the largest banks in the world with 133M customers, 14,500 branches, and over 193,000 employees. As a leading bank in the United Kingdom, Latin America, and Europe, Santander is geographically and financially diversified.
Manuel Jimenez, Talent Acquisition Director at Banco Santander, took stage at Oracle Open World 2018 to share how his organization reimagined its digital strategy, and how they are using emerging technology, such as machine learning, to find top talent.
Recruiting in a Different Era
Banco Santander, like many of our customers, went through a major digital transformation in recent years. In order to compete and remain agile in a fast-paced global financial market, everything from the customer experience, to finance, human resources, and corporate responsibility were part of the digital overhaul.
Santander’s team was often reviewing 4000 applications, which led to 900 phone screens, 400 face-to-face interviews, then went into a manual assessment center, eventually yielding 100 successful candidates. Recruiters did not have the time or resources to reach out to all of these candidates, and needed a more intelligent, automated solution.
"Imagine doing everything you do today, like assessing talent, with technology from the 1970's. Recruiting processes and technology are updated, however, the selection process is not. We found that we weren’t using data to assess candidates,” said Jimenez.
Santander sought a SaaS cloud vendor who could help:
Prioritize data security
Improve employee retention
Improve performance management
Automate and modernize talent workflows
Simplify HR processes with an intuitive, consumer-like user interface (UI)
Offer a personalized user experience (UX) to all employees seeking new positions
Santander implemented Oracle Talent Acquisition Cloud (OTAC), also known as Taleo, as its applicant tracking system (ATS), in order to more efficiently mine data for the right candidate. The HR team created their own Santander Talent Score: a solution that integrates predictive analytics and machine learning to engage the meritocracy as a fundamental piece in the process of incorporating talent into an organization.
Leveraging machine learning to identify best candidates, OTAC helped to:
1. Predict candidate success levels
2. Automate candidate hiring priorities based on skill matching
3. Identify variables and patterns that differentiate successful candidates, shortening manual evaluation
Santander has now adopted a system designed to turn traditionally complex and cumbersome transactions such as hiring, on-boarding, re-organizations, and promotion, to be simple and intuitive—leading to quicker time-to-hire and a more productive workforce.
Oracle Human Capital Management Cloud has embedded machine learning and artificial intelligence (AI) to guide users through the system by recommending the right steps for them to take. It also dramatically simplifies HR processes in hiring through easy self-driving transactions.
Deployed in six languages, Santander has achieved one branded experience and recruitment process for 190,000 + employees, and candidates around the world. Additionally, Santander has realized the following benefits:
21% increase of efficiency with less resources on the team
Gained stronger candidate insight via global talent evaluation dashboards—promoting merit-based and cross-departmental mobility
Attained data model flexibility—able to seamlessly adapt recruiting platform and job postings to local regulations
A system that can read free writing inserted by candidate and pick-up on the right keywords
The ability to apply candidate details to other job profiles
In a recent European Business Review article, Santander’s Global Head of HR, Roberto Di Bernardini explained, “two things come to mind on the future. The way we manage people will become digitalised. We have developed a new digital academy to support the mindset and behaviour approach I talked about earlier. We are moving towards having much more reliable data to take care of the engagement and development of our people. More sophisticated predictive analytics will make clear what people need and we’re also developing a global platform at Santander in this area.”
I need to admit that you can easily have a déjà-vu if you visit UNLEASH year after year. So was it Groundhog Day again? Monsters at the entry, stairways to the left, lobby, meeting area (if you would like to have a more detailed picture check my live streaming replay).
But, “what a difference a year makes!” With a white, modern, fresh, open spaces, and two stories!! So, Oracle was the only vendor with its own Executive terrace which enabled a fantastic view over the entire exhibition area. But this was definitely not the only reason, why Oracle had continuously more traction at the booth in comparison with the other vendors. A new increased interest in Oracle HCM Cloud was tangible. The new "Enjoyable, Smarter and Supportive" release is grabbing more and more attention in the market. Oracle's new positioning in Gartner's Magic Quadrant as innovation leader in HCM Cloud reflects this well and helps to boost interest, too.
So, what is it that creates this interest? The new release of Oracle's HCM Cloud displays itself in an entirely new look and feel. You can scroll the front pages just as on LinkedIn etc. (we call this Newsfeed design). Intuitively everybody understands what to do. Complex drop-Down menus? No. Smart pre-selection of information narrows down the reasonable fields for a much easier navigation in the Suite, and this makes information finds you instead of the other way round. Chatbots, Machine Learning, AI - it is all integrated. And, it is fully mobile because it is ONE Cloud. You start a process on one device and continue on another. No problem. Data always real-time accurate. Or you just do workflows, which have been complex in the past, with a couple of clicks on your smartphone.
Additionally to the booth, we had a separate meeting area for executive 1:1s. With a couple of thousands HCM Cloud installations worldwide, you can imagine that our Oracle executives have a vast knowledge of projects: what went well, what could have been handled differently or how to approach a digital transformation whilst keeping everybody on board. June Farmer and Guy Waterman, both from Oracle US Product Strategy, did one executive meeting after the other, as did Daniel van den Broeck and Steve Fearon, Oracle EMEA Business VPs. Flanking the demos, this was a perfect occasion to have an unfiltered exchange on the managerial aspects of such projects. Besides the technology, the managerial side is equally important as is the adoption amongst the employees. And even beyond HCM: Think of connected enterprises, think of IoT and smart devices in your organization - your HCM system will need to "speak" with other areas of your business, e.g. your Ressources Planning or Finance system or your Marketing and Sales systems. Agile enterprises appreciate and already implement this agility and ad-hoc insights which come along with it.
And even beyond these very beneficial exchanges on executive level, we tried to capture the most boundary pushing ideas in our Otalk studio. Otalks are TED talk like short video pieces, where we try to filter the essence of all the hundreds of great ideas which are presented all over the two days in dozens of smaller and larger sessions. Josh Bersin shared some newest findings with us, as well as some key partners of ours or influencers. Another highlight was my interview with the buddhist monk Matthieu.
He added interesting perspectives on our responsibility to make something out of the new technological possibilities which we now have at our hands to make the world a better place. It was easy to engage with him once I told him about our mission to "make Work more human!". A very inspiring session.
I need to re-emphasize that in these two fully packed days @UNLEASH you can find an enormous amount of knowledge, interesting people and down-to-earth discussions. We wanted to share all of this via a 30 minute live streaming. Marc Coleman, the founder and father of UNLEASH was with us as well as I was interviewing some key people on their perception and experiences. I was told afterwards that we had a lot of attention especially from our key competitors doing this. For a good reason. We laid out where the beauty of our new UX is, how our prospects adapt it, excellent btw, the integration of advanced technologies as AI and the power of an integrated cloud solution. A lot to speak about, a lot of value coming with it for customers.
Demo after demo after demo. We are evangelizing it over and over again: the best software needs adoption, otherwise it is useless. The individual user is in the center of our new HCM Cloud. This needs to be experienced. Logically we demonstrated this live and directly to many interested people. We even had people queuing for demos and sometimes also because we had a hard time keeping to the schedule because people have been so interested in the new enjoyable, personalized and self-learning experience in HCM Cloud.
You can imagine that this is quite exhausting for everybody. For us, but for our customers and prospects too. So, what else would be a perfect closing of such a day then a good companionship, some drinks and a decent dinner with ongoing intelligent exchanges? In good tradition, we had our Cocktail Party at the Oracle Booth. And I can tell you it was packed! Directly followed by our "Oracle International Dinner". Around 150 top notch attendees have been our guests on a historic boat, the "Prins van Oranje". A fantastic place, great dinner and lovely guests. We continued discussing in a very informal and pleasant environment. Our executives shared their experiences, as did Product Strategy and our EMEA Thought Leadership team. A great occasion to network and create plans for your tomorrow, today.
You think this was it? This was only day 1!! Day 2 was great too. We continued Otalking, Exec Meetings, demos, etc. We had a very interesting panel discussion with two very convinced customers, Staples a Westmidlands Police, run by Bart van Keer. Overall, there are dozens if not hundreds of sessions. So, UNLEASH is not only very effective in terms of relationship building with executives, but also is a vast pool of great ideas. You will discover a couple of these when we will release the Otalks for you to share.
So, where was the difference? It was the vibe and attitude all around our booth. The new release of our HCM Cloud, as well as the very positive market perception (Gartner Magic Quadrant), changed something. I won’t be able to quantify this, but everybody radiated a lot of energy. A new confidence was there and that resonated with our customers.
Two exhausting days, but as far as I know, the all-time high of what we are able to achieve with a fair like this.
If you’re a human resources pro or recruiter trying to find the right candidate for a job today, you know how competitive things are. It’s a huge challenge to find the handful of people who have the right skills and background, and you can’t rely on them finding you: You need to be proactive, and that means you need to quickly know who’s out there, both external candidates and talent within your own organization.
In a world where opportunity has to find talent, not the other way around, HR has become one of the most vital functions in the enterprise. It also has to work differently – smarter and faster. That’s why Oracle is expanding our partnership with LinkedIn to reimagine this aspect of HR for the future.
With our recent announcement, we’re more powerfully connecting Oracle Human Capital Management (HCM) Cloud and Taleo Enterprise Edition with LinkedIn to uniquely deliver a unified talent marketplace for customers.
Inside Out: the Employee View
It’s well documented that a role’s best candidates typically come from within the organization. Based on our conversations with customers, talent development and internal mobility are key priorities for many of the world’s leading enterprises.
That’s why we’re excited to be rolling out Talent Profile Import, which allows employees to import key elements of their LinkedIn profiles into their Oracle HCM Cloud Talent Profile. Coupled with expanded integrations with LinkedIn Learning, these will be key enablers for our customers’ development and internal mobility initiatives and will allow their employees to explore and realize their career aspirations.
Unifying External and Internal Talent Pools: the Recruiter View
LinkedIn is a robust talent marketplace that’s fast approaching 600 million profiles. The problem for recruiters is streamlining the process of finding the best candidates from disparate sources.
Our work with LinkedIn means that you’ll get a unified view of the best potential candidates, regardless of source. More specifically, recruiters will be able to search LinkedIn members and see those that best match a job requisition or project directly from within Oracle Recruiting Cloud or Taleo Enterprise Edition.
A Whole New Experience: the Candidate View
Even with the rising importance of opportunities needing to find talent, it remains critically important to enhance the experience for external candidates and to help them have the best shot at getting the job. Now, during the apply process, they’ll be able to see who in their LinkedIn network is the best contact to refer them in and initiate a request for referral.
There are some Oracle Human Capital Management (HCM) Cloud customer stories we have the honor of sharing, that surpass all metrics, all odds, and make you forget about technology for a second. Cantor Fitzgerald, the global financial services firm, is one of them.
Oracle Senior Writer, Linda Currey Post, sat down with Michael Chang, Cantor Fitzgerald's director of human resources operations, to discuss overcoming the loss of 68% of their workforce on 9/11, and how they are currently thriving as a business and adopting new cloud technology to enable their transformation.
Cantor Fitzgerald, the global financial services firm, suffered catastrophic losses on September 11, 2001, when an airliner hijacked by terrorists hit its headquarters in the north tower of New York’s World Trade Center. More than 60 percent of the company’s workforce at the time—658 people—perished.
Seventeen years later, the firm is flourishing. With a new headquarters in midtown Manhattan, CantorFitzgerald now employs more than 12,000 people, who work in 60 offices in 20 countries.
Under the leadership of chairman and CEO Howard Lutnick, the firm, which provides investment banking, prime brokerage and commercial real estate services, has also become a philanthropic force. The Cantor Fitzgerald Relief Fund has distributed $320 million in support of both the families of employees who were killed on 9/11 (including the chairman’s brother, Gary), as well as other victims of terrorism and natural disasters.
And every year on 9/11, which the firm now calls Charity Day, the company donates its revenues and its traders donate their commissions, raising $147 million so far for nonprofit agencies that can apply for grants. Celebrities including Lady Gaga, Jake Gyllenhaal and Eli Manning have joined the traders in calling customers to encourage them to complete more trades and raise more money.
New HCM System Tracks Growth
Cantor Fitzgerald’s entire trading business depends on robust technology. It was an electronic trading pioneer in the 1990s with its eSpeed platform, taking that e-trading subsidiary public in 1999.
It also moved recently to a state-of-the-art human capital management system, choosing Oracle HCM Cloud to help the firm keep pace with its frequent acquisitions and the resulting growth in the number of employees, says Michael Chang, Cantor Fitzgerald’s director of HR operations.
When Cantor Fitzgerald acquires companies, Chang says, their employee records are often difficult for the headquarters HR team to access. “Now we can put all our employee data into one global single instance of Oracle HCM Cloud, which allows us to apply analytics to get accurate insight into who our employees are, where they are and the lines of business they support,” he says.
Want to learn more? Find where Cantor Fitzgerald is today with their cloud upgrade in the original article by Currey Post on WSJ.com.
Managing human resources for a large enterprise can be incredibly challenging. Hiring one new employee often involves a half-dozen or more steps, spread out across weeks or months. A company like Oracle needs to hire thousands of people each year—if hiring processes were conducted manually for every applicant, it would leave the HR department no time to do anything else.
Employees also need to be paid, their benefits must be properly allocated, and their performance needs to be tracked so management can offer promotions and bonuses to the most deserving people.
The challenge of human capital management (HCM) can overwhelm startup HR leaders even at smaller scales, particularly if they’re overseeing rapid expansion. While HCM applications like Oracle HCM Cloud can greatly streamline simpler tasks, an “unintelligent” HCM solution simply isn’t enough to address the myriad challenges today’s enterprise HR departments must tackle every day.
That’s where artificial intelligence (AI) comes in. AI innovation can help HR departments manage recruiting, onboarding, retention, performance tracking, and a range of other critical employee oversight and optimization functions. Oracle has integrated AI into many parts of its HCM suite, and this has already resulted in internal successes, as CEO Mark Hurd noted at the SuiteWorld18 conference:
If I asked our head of HR, "Would you like an AI application?" I'm not sure what she'd say. But if I told her that I could help her do a better job of recruiting the 2,000 college kids we recruit every year, by knowing things like whether their GPA would do a better job predicting their future success at Oracle, or the school they went to or their major or any of these hundreds and hundreds of correlations... she's going to buy that every single day.
To put this into perspective, Employment Background Investigations found that last year, the average job opening attracted 250 applications, with only two percent of those applicants even called in to an interview. For an enterprise company, hiring 2,000 employees could require drawing from a pool of as many as 500,000 applicants -- that’s more people than live in the cities of Atlanta or Miami. The company would need to conduct roughly 10,000 job interviews to find its 2,000 new hires. That’s a lot of work for an HR department. It would simply not be possible to sift through a half-million prospective applicants by hand. Winnowing the field down in a viable way, based on AI analysis, provides enormous benefits to busy HR teams of all sizes.
Recruiting is challenging enough, but retaining and rewarding employees in large organizations can be still more difficult. Employees must be made to feel like they’re part of something worthwhile from their first day on the job. An effective onboarding program can make all the difference between a new hire becoming a loyal contributor and quickly burning out and leaving the organization. A study by the SHRM Foundation discovered that a good onboarding program can make new employees 69 percent more likely to stick with their new employers for up to three years.
AI helps HR teams provide customized onboarding and training programs that address each new hire’s strengths, weaknesses, and particular operational requirements. Hurd aptly compared this ability to personalize training programs to the potential of individualized drug development at Oracle’s 2017 HCM World conference:
There's going to be one drug discretely prescribed for our chemistry as individuals. Same thing's going to happen as we start to evolve here in HR. We're going to get more prescriptive and more specific about individuals and how they specifically work, grow, and develop.
Another added benefit of AI-enabled recruiting and onboarding (among other functions) is the AI systems’ abilities to identify and analyze patterns in the use of these tools. The results of this analysis can help HR leaders improve their organizations’ use of the tools, by identifying and improving methods and processes that work and eliminating those that don’t.
By deploying AI innovations to handle enterprise-scale HCM challenges, human resources teams can better manage their workloads and better respond to the individual needs of their workforce in an effective and personalized way. These same innovations can help the HR work of companies at all sizes by addressing routine challenges and allowing HR professionals to focus their attention on the big picture.
Learn more about how AI in the workplace can help Make Work More Human for your organization.