AMP revitalizes its HR ecosystem for the future with Oracle Cloud HCM

Founded 170 years ago, AMP has a long history of helping customers manage their finances and achieve their financial goals. The wealth management company helps millions of retail clients by offering financial advice and superannuation, retirement planning, banking, and investments products.

A few years ago, company leaders created an initiative to become a more client-focused, simpler, and growth-oriented organization. However, the firm’s HR service model didn’t align with that vision. After years of adaptation and growth, the company wound up maintaining four primary HR systems, each managing various functions such as learning, performance management, and recruitment. Due to lagging integration capabilities, these systems didn’t work with each other and resulted in a very fragmented end user experience for leaders, employees, and job candidates.

The disjointed environment made it difficult to gather and act on insights, creating a barrier to the change that the company envisioned. The complexity of multiple interfaces made administrative life difficult and created time-consuming manual work such as explaining process workflows and assisting with on-the-job training. Users often had to get help with routine HR tasks, and the whole servicing environment was reactive, leading to delays in resolving users’ issues.

The other area that needed addressing was the absence of a robust talent framework. AMP had very basic talent management capabilities, with little visibility into talent gaps, inadequate succession planning, and a lack of transparency for employees to access career growth opportunities.

Recognizing that the company’s transformation relied heavily on a more unified HR ecosystem, AMP’s leaders searched for a more sophisticated cloud platform. After assessing several options, the organization selected Oracle Fusion Cloud Human Capital Management (HCM) for its integrated suite of HR tools, which paired well with the company’s existing Oracle technology.

AMP placed a huge emphasis on connecting the various HR functions—recruiting, learning, performance and goals, talent management, and beyond—to give users a more seamless, consistent experience. This cohesive environment would also prove critical in reducing the manual efforts of administrative employees because users would be able to self-serve with a more intuitive interface, saving everyone time and headaches.

By adopting a single platform in Oracle Cloud HCM, AMP would gain the efficiency, visibility, and insights needed to support the change in business strategy. It would also establish a redesigned HR service model better suited to the evolving needs of the business and its stakeholders, with quarterly updates providing new features to continually enhance processes.

Implementing Oracle Cloud HCM allowed AMP to form a unified digital-first experience for users spanning multiple HR functions. Employees quickly adjusted to self-serving with the new tools thanks to a more intuitive user interface and simpler processes flowing through a single system. The administrative teams, who handled service requests, received welcome relief with the implementation of Oracle HR Help Desk. The tool quickly routed inquiries to the right HR person to resolve issues faster, and AMP has seen a steady improvement in service levels, which it can now measure through Oracle Help Desk and publish on a monthly basis.

The organization decommissioned the four primary HR systems it had been using for years and, most importantly, decreased its cost-to-serve by making better use of its administrative teams and resources. This more cost-effective approach to managing HR workloads has translated to a payback period of less than three years on its Oracle Cloud HCM investment.

Thanks to Oracle Talent Management, the company established a robust talent framework—a monumental improvement compared the basic setup it had before. The ability to glean insights in areas like talent gaps and succession planning helped AMP ensure it had the right talent for now and in the future. On the users’ end, employees benefited from a huge improvement in the compliance training experience through Oracle Learning.

By simplifying the talent management ecosystem and tying it in with the rest of the company’s HR data, employee engagement with the new tools skyrocketed. The old performance management system and processes generated only 30% to 40% adoption of goal setting among users, but now that baseline consistently exceeds 90%.

Additionally, AMP streamlined the experience for job candidates, using Oracle Recruiting to reduce the time to hire. AMP continues to develop Oracle Recruiting for the future to attract diverse, quality candidates for priority roles in the highly competitive labor market.