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Oracle announced Wednesday an update to its skills infrastructure within its Oracle Fusion Cloud HCM platform that allows HR pros to develop a skills-based talent strategy in every facet of the function: from learning and development (L&D) to performance management to recruiting to workforce planning.
Oracle Dynamic Skills aims to facilitate a skills framework across the platform so recruiters, L&D pros, HR teams, and beyond can operate from a skill-informed approach to their people work. The update was aimed at making it easier for organizations to build out a skill-based talent strategy.
“We have taken [previous skills] infrastructure and supercharged it with better AI and with the aggregation approach, bringing in…third party capabilities,” said Yvette Cameron, SVP of global HCM product strategy at Oracle.
This update streamlines the HCM’s pre-seeded skills library from more than 100,000 skills to between 12–15,000, according to Cameron, because “more is not always more...that extra data could just be noise.”
The platform still allows companies to create bespoke skills architecture for their own enterprises informed by that trimmed-down seed library as well as additional industry-specific skills.
A major update this week allows Oracle Fusion HCM customers to bring in skills data from third-party systems and integrate that data across the platform. Cameron pointed to Oracle’s new partnership with Lightcast, which provides labor market data and analytics.
“Our goal is to be a skills aggregation platform wherever skills and skills associations exist [and] bring that into our system of record so that data can be constantly enriched and leveraged across all of the skill driven processes in HCM,” Cameron said.
This skills infrastructure is embedded for every Oracle HCM customer and comes at no additional cost.
Zoom out. The move comes as advancements in AI are changing the way talent leaders are thinking about skills in the workplace. The shelf life of skills is getting shorter, a comprehensive skilling strategy important for HR pros to consider.
The Society for Human Resources Management this summer announced a plan to bolster its approach to skills, even offering a new certification for HR leaders looking to hone their expertise on skills.
The Oracle announcement is the latest in HCM to bolster and update its approach to skill-based workplace strategy. Last month, Dayforce announced it had launched its own skills-based LMS system within its platform aiming to better connect employee learning to other sub-functions of HR such as career development and workforce planning.