Dynamic Skills helps leaders identify skills gaps, know what skills their employees have and foster career development, the company said.
Oracle announced Wednesday a new AI solution to help organizations better understand, manage and build the skills of their workforce. Oracle Dynamic Skills is designed to give HR and business leaders a comprehensive view of the skills that exist within their workforce in order to help them develop and nurture the talent within their organizations. Dynamic Skills is part of the Oracle Fusion Cloud Human Capital Management (HCM) suite of tools.
The tool uses AI to help employers catalog the skills their employees currently possess. By benchmarking the adjectives and phrases employees use to describe their skills against a global database of similar skills, the tool not only helps employers to more accurately compare one employee's skills against another's but also helps them find suitable candidates from both inside and outside the organization to fill vacant roles, Oracle said.
Dynamic Skills also maintains a record of skills data within the organization, including job titles, employee capabilities, experience and strength of skills. This data helps HR foster career development and plan and hire more effectively, the company said.
Included in Dynamic Skills is:
A continually updated database of records called Skills Nexus that provides organizations with a comprehensive view of employee skills across their workforce. Skills Nexus also takes publicly available data on skills, qualifications and occupations from around the world, combines it with similar information from within the organization, and uses AI to assign skills to roles.
A recommendation engine called Skills Advisor that uses AI to recommend what skills employees should learn to forward their careers, what skills organizations should look for to fill specific roles, and which candidates have the right skills for open positions.
A personalized portal called Skills Center for employees to update their skills, find new roles, and engage in learning resources to update their skills.
"Coming out of the pandemic, the talent economy is in a really interesting place. Many people took time during lockdown to reevaluate their career choices and consider new opportunities for growth. This is putting pressure on organizations and HR leaders to double down on both recruitment and retention. But regardless, the foundation of their strategies should be centered around one thing: skills," Lisa Rowan, research vice president, HR software and services research at IDC, said in a press release about the new offering.
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