Oracle has effectively harnessed the power of generative AI through its substantial investment in Cohere, a billion-dollar initiative. The technology giant’s endeavors in this space have particularly focused on human resources, aiming to optimize HR workflows. Earlier this year, Oracle introduced generative AI-powered features within its Fusion Cloud Human Capital Management (HCM).
Chris Havrilla, Oracle’s Vice President of Product Strategy, emphasizes how this innovation allows employees to tap into valuable insights from the data system. Now, not only managers and the organization, but also the workforce can derive benefits from this wealth of data. With Oracle HCM, every employee gains visibility into forthcoming opportunities within the company, empowering them to understand the skills required to excel in various roles. These recommendations are meticulously tailored based on individual employee data.
Havrilla underlines the importance of “democratizing” data and leveraging the capabilities of HCM to create a unified platform where all employees feel valued within the organization. Regardless of personality differences, be it outspoken or reserved individuals, Oracle aims to foster inclusivity and a sense of belonging.
Addressing the issue of talent retention, Havrilla challenges the conventional belief that it’s primarily monetary incentives that lead to job changes. Rather, data suggests that employees are motivated by the sense of being valued by their peers and the organization, as well as opportunities for personal and professional growth.
In the context of high attrition rates within Indian IT companies, including Oracle’s customers like Wipro, TCS, Infosys, and Tech Mahindra, Havrilla acknowledges that this situation results from a lack of growth prospects and a stagnant work culture. Organizations often struggle to grasp their employees’ skills, predict future needs, and bridge skill gaps, while employees are unaware of potential opportunities due to a lack of transparency. To address this, Oracle introduced ‘Grow,’ a personalized coaching solution that helps employees identify and achieve their career objectives, stay updated on the latest skills and technologies, and expand their professional networks, ultimately increasing retention rates.
Havrilla envisions that ‘Grow’ will be instrumental in retaining the next generation of employees, such as Gen Z, known for their tendency to change jobs in search of better opportunities. By analyzing organizational data in real-time, ‘Grow’ identifies and presents opportunities, connections, projects, learning resources, and more.
The COVID-19 pandemic forced individuals to reflect on their career choices and desires as organizations were unable to provide this guidance. Even today, resignations continue to occur, making Oracle’s ‘Grow’ a valuable tool for employees to explore learning resources and network with peers, enhancing their skills and knowledge.
Moreover, the role of HR is evolving. Traditionally focused on managing human resources and gathering employee feedback, HR is transitioning into a mentorship and advisory role thanks to generative AI. Oracle’s new offerings enable HR professionals to become advisors who can help organizations assess employee potential based on performance data. The performance and talent review process can now be automated, alleviating the burden of data collection from managers.
In this transformed role, HR professionals guide employees to unlock their full potential by recommending specific growth opportunities. As Havrilla concludes, to excel in this role, HR professionals should aim to be experts in understanding human behavior and helping leaders build exceptional teams.