Human resource management or human capital management focuses on the easy management of human resources. When an organization has to pick a human resources management solution, they pick one based on how their business operates, how they want to map their business structures, procedures, etc. PeopleSoft provides an efficient HRMS solution. In this post, we will explain about the PeopleSoft Human Resource Management System (HRMS). We will talk about the advantages of PeopleSoft HRMS, installation process, etc. This tutorial is designed to target all levels of people. So, anyone who wants to learn and understand PeopleSoft HRMS can follow this. Let us get started.
PeopleSoft HRMS is a solution that helps organizations to carry out HR tasks. It acts as a centralized table-based system for storing general to critical information. The information includes employee details, work locations, system specifications, payroll, etc. It always maintains data accuracy and integrity. It manages strategic tasks like salary, attendance, hiring, budget, and many more.
PeopleSoft HRMS is built on top of PeopleSoft's patented Pure Internet Architecture (PIA). It can be deployed both on-premises and on the cloud. It suits medium to large size companies that have complex business requirements. It is well suited for companies that have more than 500 employees.
Enhance your IT skills and proficiency by taking up the PeopleSoft HRMS Training.
There are five modules within PeopleSoft HRMS.
Global Core HCM
It enforces HR policies in compliance with local governance regulations. For companies with a presence in multiple countries, it provides multi-national support. It covers features like benefits, pension, payroll, etc.
It enables them to assign tasks to employees and manage them. It also forecasts labor and workload. It includes features like absence management, travel and expense management, time and labor, resource management, etc. It also integrates with Outlook, which makes it easy for employees to manage their sick leaves.
In-memory labor rules and monitoring
It manages labor costs and reduces technical resources to maintain labor. It maintains transparency so people can make policy-based decisions with real-time analytics. This module follows Oracle Exadata database architecture. Companies can set their local rules and regulations for employees.
Workforce service delivery
It is a self-service and collaboration module that aligns employees with organizational goals to streamline the business processes. It provides a personalized view for every employee based on their role, language, experience, etc. It includes features like HR help desk, workforce communication, directory interface, etc.
It enables employees to manage certifications, professional education, awards, licenses, etc. It includes features like services procurement, succession planning, recruiting, incentive compensation, enterprise learning management, etc.
Here are the advantages of PeopleSoft HRMS.
Frequently Asked PeopleSoft HRMS Interview Questions & Answers
Go to https://edelivery.oracle.com and download the PeopleSoft HCM application. Extract the zipped contents into your desired location. You will get two folders in it - Disk 1 and Disk 2. Open Disk 1 folder and run the setup file. A PeopleSoft Installer will open. Click on 'Next' to continue. Accept the terms and click on 'Next'. You will have to enter a license code here.
You can get a license code from https://www.oracle.com/support/license-codes/peoplesoft.html. Scroll down a bit till you get 'Human Capital Management'. Copy the code given for 'Oracle', give it in the installer, and click on 'Next'. Select the 'Non-Unicode Database' option and click on 'Next'. Keep clicking on 'Next' until you get the 'Install' button. Click on 'Install' to begin the installation. Once the installation is complete, click on the 'Done' button.
Both PeopleSoft HRMS and Workday HCM serve the purpose of easing the work of HR. However, they have some differences too. Let's take a look at them.
PeopleSoft is trusted by many companies with its immersive features and functionalities. It is designed to handle the most complex business requirements. It might be a bit difficult to implement jobs at the beginning, but with training, it will be the easiest tool to implement the HR functions. Over the years, PeopleSoft has released many updates to stay at par with the current market trends. Major companies like 20th Century Fox Film Corp, 3D Systems Corporation, AARP, etc., are using PeopleSoft HRMS.
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