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In Financial Services the competition to attract and retain the
best talent is fierce. Why? Because good people make a direct
impact on the performance of the business. To successfully compete
you need the best people, the best information and the best systems.
Financial Services is a broad term that encompasses many different types of organisations such as retail banking, investment banking, insurance and wealth management. But they all have one thing in common, they are all dependent upon the skills, capabilities and enthusiasm of their people in order to survive and thrive.
Finding, enabling, empowering, engaging, developing and retaining talent is critical to the performance of the business. It is obvious that the user experience must be simple and engaging. The use of mobile devices for employee self-service access should be pervasive. The latest social tools are required to facilitate collaboration across the organisation. In addition, new approaches to performance management such as regular ‘check in’ feedback resonate well, especially with a younger more demanding workforce. Compensation systems must be powerful and robust to support requirements that can often be extremely complex.
It is not just the experience for employees and managers that is important. Driving efficiency improvements often rests with HR and Payroll operations as organisations adopt shared service models across the back office. Helpdesk, robotics and other forms of advanced technologies can deliver significant benefits. Financial services companies typically have a complex technology architecture so integration with other systems is very significant. Management reporting should extend across the enterprise, beyond the silo of HR to include financial and performance information to provide a truly holistic view of the organisational.
The legislative and regulatory environment in which financial services organisations operate is really complex. Gender pay gap reporting, the apprenticeship levy, senior managers compliance regime (SMCR) and global data protection requirements (GDPR) are just some examples of recent demands that have been made of the business. It is vital that important employee data is correct, up to date and held in a secure manner to ensure compliance. The quality of your HR system that maintains all this information has never been more important.
The Oracle HCM Cloud offers a whole variety of new possibilities for HR professionals to take advantage of. A broad range of Financial Services companies, large and small have embraced the Oracle HCM Cloud, organisations such as Axa, UBS, Santander, Barclays, Aldermore, Standard Life, Schroders, the Bank of England and the FCA to name but a few. Oracle has a wealth of experience of working with customers in the financial services sector and an excellent track record of delivering real business benefit. We offer the most compelling HR solutions in the market with unparalleled breadth and depth of capability. We would be delighted to show you.
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“Nationwide Building Society, the UKs largest mutual financial provider, knows people are its best asset which is why Nationwide is making innovative use of Oracle HCM Cloud to empower IT people and transform IT business.”
“Kwasi Boateng, Head of Group HRIS Development, AXA, details how Oracle HCM Cloud has transformed AXA’s HR to make it a strategic partner within the business.”