Oracle Strategic Workforce Planning Datasheet

Key features

  • Align headcount planning with demand drivers and budgets
  • Configurable views of skills, competencies and costs by department or employee level
  • Workforce optimization
  • ‘What if’ scenario analysis
  • Smart View to quickly import and manage data from Office
  • Configurable dashboards based on employee role
  • Integration between HR and Financial Planning Predict performance and attrition of individuals and teams

Key benefits

  • Close the gap between workforce supply and demand
  • Drill down into what skills, competencies needed for long-term organizational success
  • Analyze workforce trends and gain insights into attrition and retirement
  • Predict costs and effectiveness of organizational changes
  • Get a complete view of your headcount across your entire organization
  • Improve collaboration between HR and Finance

Oracle Strategic Workforce Planning (part of Oracle Cloud HCM) aligns your people strategy with your business strategy, to optimize your workforce for today, and prepare your organization for the workforce of tomorrow.

The state of workforce planning today

Today’s leaders are under more pressure than ever to make decisions on what strategies they should pursue to achieve their strategic objectives. Whether it’s entering a new market, launching a new product, or the decision to merge or divest part of their organization; leaders also need to understand the people, the skills, and the competencies needed to achieve their organizational goals.

Yet, less than 40% of organizations have any kind of proactive workforce planning process, meaning that the required people, skills and competencies are an afterthought, after operational costs have already been determined via a spreadsheet. Traditional planning has been finance intensive and effective for managing short term operational costs, but often lacks insights into how their people will actually go about executing the strategy.

Preparing your workforce for tomorrow

To close the gap between organizational strategy and people strategy, business leaders need buy-in from stakeholders across organization—line managers, finance, and human resource (HR) on what the organizational objectives actually are. Only after leaders are aligned, can they determine what the workforce demands will be. These drivers can be modeled against the current skills and competencies of your current workforce today, or what is known as workforce supply. Leaders need the ability to forecast the right balance between workforce supply and demand to make sure they have the right number of employees with the right skills, at the right time.

For example, a European bank that is looking to expand their international presence and open 20 new branches globally in the next 2-3 years. With demand planning we’re able to determine what headcount is needed at what cost to expand internationally to these locations. From a supply planning perspective–business leaders can forecast risks in attrition and retirement and determine what skills and competencies are needed in designing these new roles and at what cost. Aligning the supply and demand of your workforce helps business leaders manage their costs, mitigate risk, and maximize the success of their organizational objectives.

The right tools and technology can improve workforce planning to become strategic and collaborative. Only Oracle delivers the flexibility for both Finance and HR to contribute to the strategic workforce planning process. From HR designed features such as drag-and-drop organizational charts in Workforce Modeling, to top down strategic planning for Finance using SmartView or Excel, Oracle Strategic Workforce Planning is built with simplicity to help everyone plan for tomorrow, today.

Critical questions to enable strategic workforce planning

  • How do you currently plan for your workforce, and how often?
  • How confident are you that your business strategy is aligned with the demographics, skills, and competencies of your workforce?
  • What are you doing to predict your future headcount and costs?
  • How much collaboration takes place today between Finance and HR today, and would you like to have more?
  • How important is it to have a consistent user experience across Finance and HR for reporting, analytics, and self-service transactions?