Nice work: Now Oracle manages the entire recruiting cycle

Oracle Corporation, the world`s largest enterprise software company, has announced a new module for its E-Business suite designed to give both company management and recruitment staff the ability to manage all aspects of the recruiting cycle via a self-service interface.

Oracle iRecruitment, which fully integrates into Oracle`s Human Resources Management System (HRMS), is a full-cycle recruiting solution focused on the manager-recruiter-candidate hiring relationship that fully automates the entire recruitment process.

It is said to be the industry`s first complete solution for managing the entire recruitment cycle process from end-to-end.

"Oracle iRecruitment delivers easy to use interfaces that enable managers, recruiters and candidates to efficiently and effectively fill opportunities while reducing costs and delays in the hiring process," says Gerhard Stegmann, HRMS product manager at Oracle SA.

He says a key capability of iRecruitment is its ability to relate the evaluation of hiring successes to organisational recruiting techniques through a common performance assessment process. This allows users of Oracle iRecruitment to continuously improve their processes to achieve a high standard of hiring practices.

In a related announcement, Oracle has released a new version of the Self Service Human Resources Management System of its E-Business Suite featuring a Compensation Workbench component.

This component facilitates compensation modelling and allocation by allowing the HR manager to perform employee validations, budget definitions and distributions, compensation allocations, approval processing and notifications reporting through an automated workflow process.

"In large corporations compensation professionals define the timing, structure and eligibility for awards plans, and work with line managers on budget and worksheet allocations and approvals processes, for their employees across the globe," says Stegmann.

"Compensation managers must balance the need for companies to contain and reduce compensation costs with the need to provide competitive and appropriate compensation."

Stegmann notes that traditional compensation processes have involved the updating and passing around of paper documents and/or disconnected worksheets, a method prone to errors and omissions.

"Under this paper-based system, managers may inadvertently add or remove employees, change values and possibly circumvent necessary reviews and approvals.

"Compensation Workbench allows companies to manage compensation costs while targeting the retention of top talent by providing flexibility in plan offerings, as well as more accurate, timely and controlled distributions of compensation awards.

Stegmann adds that HR managers can administer compensation rewards such as salary increases, bonuses and stock options with a single sign-on through Oracle Self Service Human Resources.

"This provides the flexibility to enforce compensation policies and to help ensure that policies are administered consistently."