UniSuper, one of Australia's largest superannuation funds, has selected Oracle Fusion Cloud Human Capital Management (HCM) to upgrade its HR function and improve efficiency in operations for the benefit of employees and members.

Implementing Oracle Cloud HCM has enabled UniSuper to consolidate five different HR applications into one and further enable its workforce of more than 900 employees with a more holistic and enhanced HR experience.

UniSuper, like many other Australian financial services providers, has been facing the challenges of a growing skills and workforce shortage, and increased competition for talent within the superannuation industry, the company states.

The leadership team looked inward to evaluate how it could sharpen efficiencies and processes to retain and grow employees in-house. It was decided the company needed a platform that would reduce its reliance on manual processes for cost saving, while uplifting career support for its employees and improving operational efficiency.

Julie Watkins, Chief People Officer at UniSuper, comments, “Previously, employees were left juggling between different applications for goals, performance reviews, learning and more. As we become more commercial and competitive as a business, we could no longer operate five different HR platforms or continue investing in more headcount to complete manual processes.

"We needed a solution that could consolidate all our applications down to one, reduce the number of emails and eradicate manual spreadsheets, giving employees and business leaders more time to focus in other areas and importantly provide information and trends about our people.”

By consolidating its HR systems with Oracle Cloud HCM, UniSuper has delivered process efficiencies and continued its focus on low fees to its growing member base. It has also enabled the business to better understand employee needs, improving employee retention and freeing up capacity to focus on core business, the company states.

Oracle Cloud HCM also supports UniSupers employee processes, including monthly reporting, and provides data-driven insights to inform decision-making based on feedback gathered from employees.

Watkins adds, “It's easy to listen to a few voices within an organisation and then reactively respond, but that doesn't provide a fully rounded view of what's happening in the organisation. We need actionable data and insights to see the full picture, the challenges as well as the opportunities.

"After considering three similar HCM solution providers, we chose Oracle Cloud HCM as it did not require customisation and provides the data to identify trends which we can then couple with our customer and employee Net Promotor Scores and take action.

“For us these actions help us to retain great talent, reduce time spent on manual HR tasks and enhance efficiencies across the business. Ultimately, that means a more competitive business, and better outcomes for our members.”

With Oracle Cloud HCM, UniSuper is now at 98% employee uptake on its goals platform and has reduced monthly reporting time from two weeks to 24 hours, giving leaders greater visibility into its employee base, valuable time back, and enabling them to focus on more strategic tasks.

Adrian Johnston, Senior Vice President Oracle Applications, JAPAC says, "Oracle Cloud HCM is a complete cloud solution that connects every HR process and every person across the organisation.

"By bringing together its HR function into one platform, UniSuper will be able to deliver a modern employee experience to its workforce. This means the team at UniSuper can effectively respond to employee needs and remain competitive in its new business environment."