Looking to unify HR practices for employees in nine business units, Reliance Capital turned to Oracle Human Capital Management Cloud for a connected approach.
Reliance Capital, the financial services arm of the India conglomerate Reliance Group, distinguishes itself by the range of services it offers. The company appeals to businesses and individuals with offerings including asset and wealth management; home, life, and health insurance; and commercial and home loans. Founded in 1986, today the nine companies under the Reliance Capital umbrella are all powerhouses in their respective business areas.
This was an opportunity for us to rejig our processes and adopt the best international practices that Oracle HCM brings to the table.Swaminathan Subramanian, Chief People Officer, Reliance Capital
Working to maintain industry-leading people processes, Reliance Capital launched its “HR360” platform built on Oracle Human Capital Management Cloud to standardize and connect all of its key HR processes.
The first phase of the project went live in March 2019, offering core HR services to 8,500 employees. Today, 70 percent more Reliance Capital employees work remotely at least some of the time, so they especially appreciate the ability to access the system through a mobile device. Also popular is the self-service feature that lets employees make changes to their personal data, apply for days off, and look up benefits enrollment. Those features rely on Oracle’s core HR and time and labor modules.
The second phase of the implementation ended in October 2019 when the ninth and final Reliance Capital business unit went live with the new HR platform, making it available to 20,000 employees. This phase also added the Oracle HCM goal-setting and performance management modules. Automated recruiting processes have boosted recruiter productivity by 35 percent.
Today, employees can quickly take care of HR administrative matters. “They're now free to entirely focus their time and efforts on the business,” says Swaminathan Subramanian, Reliance Capital’s chief people officer.
Oracle Cloud HCM
By automating its processes, Reliance Capital reduced the time it takes to onboard new employees from 25 days to 7 days.