Oracle Fusion HCM Modules & HCM Functions

Below are the potential HCM/ Typical HR Activities to manage in the Oracle Fusion HCM Application.

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1.        Onboarding
2.        Payroll
3.        Benefits
4.        Absence Management
5.        Workforce Modeling and predictions
6.        Workforce Directory
7.        Potential HR Functions

Each activity has its own significance and will walk you through this.

Onboarding:

The onboarding process gets initiated after the HR team identifies the right candidate for the right job. In this process, the HR team will introduce the company policies, values, culture, vision, etc. During this activity, employees will get to know when did this company establish. Where did it get started (Location)? What are the company's core strengths such as IT, ITES, etc? This is the foundation step for all employees who will admire and strive to achieve organizational Goals. In this program, employees can raise any questions related to company activities and compliance, etc. The HR team will introduce a management hierarchy with respect to each department. Based on this, the employee will communicate concerned team to resolve any queries. 

Payroll:

Generating employee payroll is a key function of the HR consultant to consider a lot many factors like company policies/ statutory compliances/ country taxation policies etc. certainly all these calculations/formulas can be written in the application according to various scenarios and situations in the Oracle Fusion HCM Online Training instructor is very capable to explain all these aspects and delivers the training to accommodate various scenarios of the clients.

This payroll module implementation is key for any successful project delivery hence all the students have to gain a lot of skill sets through real-time coaching from experienced instructors.

Benefits:

Employer provides additional benefits other than the agreed compensation to all employees such as Health insurance, Gratuity, Incentives etc. When it comes to Health insurance, most companies provide insurance to the employee along with their family members (1+3). In some cases, if an employee wishes to add another family member to this health insurance, he/she needs to pay an additional premium. This is an added advantage for all the employees who have more dependents. The employee will be eligible for Gratuity when they complete service for more than 5 years. Gratuity is calculated based on the last month salary and the number of years service. Incentives will be decided based on the employee role. Employer initiate this incentive program to improve productivity and client satisfaction. Employees receive this incentive by each month or year. Majority of the companies insist to improve employee knowledge by undergoing some training which will be reimbursed based on the company policies. This will enhance employee skills and produce more than expected results.

Absence Management:

Does this module talk about how many PTOs (Paid Time Off) can be utilized by each employee? In general, all employees in one organization follow the same structure irrespective of designation or department where they worked. However, it will be different for Consultant and Permanent Employees. The organization needs to follow government instructions before providing Leaves details with employees. These PTO’s are broadly categorized into Casual Leaves, Privileged Leaves, Sick Leaves, Optional Holidays (Self Birthday, Spouse Birthday and Marriage Anniversary, etc), and Bereavement leaves (this is applicable for employee’s parents or in-laws' demise). Before employees consume any PTO’s, he/she needs to take prior approval from either their immediate supervisor or the HR department.

Workforce Modeling and Predictions:

Based on the requirement, organizations hire employees as FTE (Full Time Employees), Contingent workers (Consultants). After hiring any employee, the HR team will assign a position and department that they need to work on. When it comes to the contingent worker, he/she considers a part-time employee and once the project gets finished, the HR team will assign them to another project. Otherwise, they will be retired from the organization. In workforce modeling, SLT (senior leadership Team) identifies who is working on different projects and how much revenue they are generating from each project, and how much we are spending (Employee compensation). Based on this information, they can easily understand the significance of each department's potential strengths and weaknesses.  Before SLT make any changes in the workforce model such as changing employee department and designation, they will do a what-if analysis. Does it mean that what will be the expected outcome when we move an employee from one department to another department? Does it give meaning and full value to the organization or client? Let’s assume that employee A is working in the same organization for the last 15 years on different projects. Before the SLT team move him into a critical project, they will look into his historical performance (Appraisal ratings) and client feedback and predict his performance in a future project.

Workforce Directory:

Let’s assume that we wanted to know Mr. Ravi Kishore's details such as where he is working, his designation, immediate supervisor, and contact information. In such a scenario, we can’t ask every time to Human resource department to get these details. Hence, the Human Resource team load all employee-related information in a system which is called the Workforce directory. By using this directory, we can easily get to know all employee details. This will be useful for employees as well. Let’s say an employee is going on vacation, he/she can update this information in his directory to let others know that will be on leave from date to To date and contact another person for any quick work. Employees can acknowledge their colleague's accomplishments. With the help of the workforce directory, we can easily pull organization charts like Mr. Ravi Kishore's immediate supervisor and subordinates as well as peers. At the same time, we can get to know his position and working department.

End Note:

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Thanks for your time and interest in reading through the whole concept, hope we made an impact! See you next time, thanks – Tech Leads IT Team.