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Premium member Presentation Transcript Oracle's Human Resources Management Systems : Oracle's Human Resources Management Systems by the Web Krawler Krew Sonia Carroll Jen Hofrichter Stephanie Latimer Kris Rymer Daniel Searcy Oracle : Oracle Performance Management, Compensation Workbench and Incentive Compensation History of Oracle's Human Resource Management System : History of Oracle's Human Resource Management System June '03 - Oracle begins takeover efforts of PeopleSoft - hostile take over offer extended in June '03 February '04 - US Dept of Justice files Anti-Trust law suit against Oracle. - Case rejected by Supreme Court December '04 - after multiple varying offers to PeopleSoft, announcement of agreement between PeopleSoft and Oracle PeopleSoft product re-branded Announcement of next generation HRMS system "Fusion" Functionality of Oracle Software : Functionality of Oracle Software Business is more competitive than ever Companies discovering value creation through "integrated talent management" Goal of integrated talent management (or workforce management) is to improve productivity of organization's workforce Oracle offers three modules related to this business process: Performance Management Compensation Workbench Incentive Compensation Functionality of Oracle SoftwarePerformance Management : Functionality of Oracle SoftwarePerformance Management Key Benefits Align employee objectives with company objectives Recycle objectives for future evaluations Integration with use of performance appraisals Support for Performance Appraisals Allows multiple types of appraisals based on department or employee type Streamlined sharing of information between everyone in appraisal process Integration available with other Oracle software modules Learning Management module integration Functionality of Oracle SoftwareCompensation Workbench : Functionality of Oracle SoftwareCompensation Workbench Key Benefits Efficient allocation of performance-based compensation Based on guidelines, base compensation or performance ratings Capability to design various compensation plans to suit changing business objectives and models Ability to communicate information to employees using total individual compensation statements Self-Service interface Functionality of Oracle SoftwareIncentive Compensation : Functionality of Oracle SoftwareIncentive Compensation Key Benefits Special features for managing performance-based compensation for salespeople Integration available with other HRMS suite modules Before Oracle's Performance Management : Before Oracle's Performance Management Unmotivated Human Resources Personnel Due to few if any periodic performance discussions Due to goals not being updated Due to nonalignment of employee and organizational goals Dreaded Performance Reviews By employees and supervisors Goals not met by employees or organization Focus on what has already happened What it is Replacing : What it is Replacing Time Cards Leave Documents Spreadsheets Dry Erase Boards Paper Based Reviews Lost Documents Generic Forms Sizeable Documents Vague Evaluation Feedback Untimely Feedback Onerous Administrative Exercises Before Oracle's Compensation Workbench and Incentive Compensation Systems : Before Oracle's Compensation Workbench and Incentive Compensation Systems Clumsy spreadsheets with many errors Only 95% to 98% formulas are accurate Compensation not aligned with performance Managerial bias a problem Goals of Performance Management : Goals of Performance Management To streamline the process of evaluations Cut down on delays in evaluations To set employee goals To align the mission of company and personnel Benefits of Performance Management : Benefits of Performance Management Goals and Objective Management Library of company goals can be maintained Users can copy goals Goals can be dispersed Review, tracking and feedback Automatically generate appraisals Benefits of Performance Management - cont. : Benefits of Performance Management - cont. Performance Appraisals Multi-level evaluations Competencies can be rated Templates can be created and maintained by HR Ratings and comments can be viewed by HR Questionnaires can be administered Training can be recommended Benefits of Compensation Workbench : Benefits of Compensation Workbench Compensation package can be managed across: business units locations currencies Complete picture of employee or department compensation Numerous standard and custom criteria available for compensation calculation: tenure job ratings budget Viewed and updated on a scheduled or ad-hoc basis Benefits of Incentive Compensation : Benefits of Incentive Compensation Manage incentive payouts automatic payments can be scheduled Employees can track and calculate bonuses Updates can be easily made across given populations Trending and reporting How does Oracle Grow? An Industry Criticism : How does Oracle Grow? An Industry Criticism http://www.youtube.com/watch?v=cjja7ZJ6YYM We'll play this video and embed it into the presentation....it's 1:53 long. Vendors and Pricing : Vendors and Pricing The major vendors for Oracle’s HRMS are Accenture, Precise, DemandTech, Embarcadero and Merced Systems which are all independent software vendors. The Performance Management application costs $8,710.50, which encompasses the three applications in this analysis and can increase substantially depending on business needs. Product Comparison : Product Comparison Actuate is Oracle’s competitor for its Performance Management application. It provides a broader and less focused approach to performance management than Oracle. XactlyCorp produces Compensation Software. Both of these products do not require the purchase of an HRMS system and are ideal for small businesses and non-profit organizations because they are less expensive. Recommendations for Purchase : Recommendations for Purchase Analyze your HR needs What is your budget? What is your current company size and what is your anticipated growth? All these questions come in to play when deciding to purchase some of the Oracle HR applications. Bottom line recommendations truly dependent on your budget. If you have large budget, purchase ENTIRE Oracle HR suite. If smaller budget, piece-mealing Oracle apps not the best way to go. Let's see what you have learned! : Let's see what you have learned! What is the name of the next generation of Oracle's Human Resources Management System? a. PeopleSoft b. Envision c. Fusion d. Finesse Let's see what you have learned! : Let's see what you have learned! What is the name of the next generation of Oracle's Human Resources Management System? a. PeopleSoft b. Envision c. Fusion d. Finesse Let's see what you have learned! : Let's see what you have learned! What is Oracle's Human Resources Management System replacing? a. Time cards b. Written performance reviews c. Untimely feedback d. All of the above Let's see what you have learned! : Let's see what you have learned! What is Oracle's Human Resources Management System replacing? a. Time cards b. Written performance reviews c. Untimely feedback d. All of the above Let's see what you have learned! : Let's see what you have learned! What is a key benefit of Oracle's Performance Management application? a. Paper based reviews b. Multi-level evaluations c. Manage incentive payouts d. All of the above Let's see what you have learned! : Let's see what you have learned! What is a key benefit of Oracle's Performance Management application? a. Paper based reviews b. Multi-level evaluations c. Manage incentive payouts d. All of the above The End : The End You do not have the permission to view this presentation. In order to view it, please contact the author of the presentation.