5 Things to Know Regarding Oracle HCM 24B Release
The Oracle HCM 24B Release rolled out in May 2024 contains significant enhancements, resolution of issues, and improvements to HCM sub-modules such as Global HR, Learning, FMLA, Payroll, and Talent Management, among others. This release helps to future-proof the HCM environment by incorporating new ideas and cutting-edge functionalities. The Oracle HCM 24B Release aims to streamline human resource management processes and provide organizations with more robust tools to manage their workforce effectively.
Global Human Resources
The functionality of journeys is improved in the Oracle 24B Release, as it allows for survey creation, signature capture, and email ID masking. It also adds payroll and work location data into current journeys. The employment info page now will enable users to view the assignment flex field information.
Learning
However, while the 24B update enables adding skills from learning outcomes to a talent profile, it gives the key assignment information on learning pages and makes it easy to enroll in these offerings. Managers have the option to put learning to your teams, order catalog/non-catalog learning, and capture external learning of the direct subordinates.
Absence Management
Change management has features such as default absence types for entry pages, checking absence balance while entering time cards, and exporting absences data. It also inserts a column defining processes modifying the transactions and can be tailored to modify the absence planning. Auditing is performed for per_schedule_assignments, and per_schedule_exceptions tables.
Benefits
The specific benefit of Oracle 24B involves an enhanced ability to cluster plans with 18 total plan type clusters being available. For eligibility profiles, it uses the home address of the employee and sets the timeliness days to 90 for new / existing, null life event situations. This cuts on the administrative work and ensures that one is not undoing major occurrences in his/her life.
Payroll
Payroll in the 24B Release offers the following features: it processes data in the background, it can generate reports in cultures that are preferred by clients, and it can also compress files before uploading. It also has formatting options to choose units of measurement on reports. Here they enhance security measures, the possibility to unlock content, the storage issue, and adjustability.
Talent Management
The Oracle 24B talent management improvements are an extension of the goal support and approvals via Redwood journeys, job/position profiles synchronization, licenses/certifications check, and referring to the career ambassadors. It connects learning with goals, tackles goal performance, and utilizes the enhancements of the evaluation process.
The upgrade also adds a more user-friendly performance evaluation system that enables continuous performance tracking and real-time feedback. It improves succession planning skills, making it easier for businesses to find as well as develop high-potential workers. Better analytics tools for talent insights are also included in the update, assisting HR executives in making data-driven choices on workforce development.
Conclusion
Oracle HCM 24B Release offers substantial enhancements across key modules, streamlining processes and improving user experience. These improvements can be thoroughly evaluated on the Oracle testing platform to ensure reliability and performance. For businesses using Oracle HCM, Opkey, a certified Oracle partner, provides a complete solution for managing quarterly updates. Opkey expedites the certification process with a comprehensive pre-built accelerator library that includes over 7,000 Oracle Cloud business components and test scripts. The platform accurately identifies possible modifications and their consequences on current business processes by offering comprehensive advice documents and impact analysis reports.
