Ques. 1): In Present time, Why Human Capital Management is so important?
Answer: In the present, understanding the economy is a vast term. No one knows what factors are important in terms of investment without managing the capital. Organizations must face a ton of issues if they don’t manage the same in a reliable manner. The fraud transactions and risks are the major trouble creators. Effective management always makes sure proper utilization and records can be accessed anytime when users want.
Ques. 2): What are the different pillars of HCM?
Answer: The core pillars of HCM are:
• Training talent
• Talent acquisition
• Retaining talent, and
• Managing talent
Ques. 3): What is the best way to motivate employees?
Answer: The best ways to motivate employees are:
• Rewarding by praising before others
• Increasing pay
• Appreciate the work
• Designation increase
Ques. 4): What type of structures can easily be managed by Fusion Tree? Is it possible for users to change these structures?
Answer: Fusion HCM comes with many features. It can simply represent the structures of organizations, geography tree, inter departments within an organization, as well as positions associated with the same. It is not possible for users to change the predefined tree structure.
However, it is possible to create new ones with the help of geography trees. Even a single copy can have multiple versions. This doesn’t actually mean that all the versions can be utilized at the same time. Users can consider only one at an instant.
Ques. 5): Can you state a few benefits of using the Enterprise Structure Configuration?
Answer: benefits of Enterprise structure configuration as mentioned below
• It is possible to create all the structures within an organization instantly and simultaneously
• It is beneficial for testing the multiple scenarios. This is because it can easily create several configurations
• It is possible for the users to roll back the configuration even when the same has been loaded by them
• Users can even review the same thoroughly before it is actually loaded. This makes sure that there will be no errors in the configuration process at a later stage.
Ques. 6): Is Fusion HCM a currently independent platform?
Answer: Yes, it is a currency independent platform. Users need not to worry about the same. It has also been equipped with some inter-currency conversion features that make it easy for the users to understand the basic concepts. It is also possible for the users to understand the management aspects in terms or rates of local currency in an equivalent manner.
Ques. 7): What is Normalization in Oracle Fusion?
Answer: When the users need to create the rating models, there is always a need for them to define the rating distribution at the same time. This is because it gives an idea about the overall percentage of the workforce that needs to be involved in the task. It even reflects the information if it is possible to increase/decrease the workforce at different levels. This process is known as normalization.
Ques. 8): Can you tell the difference between the Watchlist and the Worklist in Oracle HCM?
Answer: There are certain items that a user always wants to track while performing important tasks. The Watchlist is a basic feature where the shortcuts to all the items are reflected. The count for all the items can easily be seen and can be navigated to the relevant application sector.
The shortcuts can easily be modified as per need and users can even create a track record of the same. One of the best things is it makes report generation and management very easy and there are certain items that need to be opened again and again.
On the other side, the Worklist reflects all the important tasks that are sensitive and needs the approval of the user before the final execution. It also reflects some important notifications and the tasks which are on priority. All the tasks can easily be managed with the help of Worklist. The concerned users can act in any manner on the tasks.
Ques. 9): What exactly do you know about the plan types in Fusion HCM?
Answer: There are 3 plans available in the Fusion HCM. These are Accrual, Qualification, and No Entitlement. An accrual is an approach that defines the purpose of the workforce for taking leaves. Qualification states whether the workforce is actually eligible to take the benefits of the leaves and why they should be given wages for such a time period.
No entitlement keeps a track of all the leaves whether they are paid or unpaid. It generally doesn’t have an entitle that states the true purpose of absence.
Ques. 10): How well you can define the term Capital?
Answer: It means the goods which are already produced and further plans to produce the same by an organization. Generally, it reflects any service or goods with the help of which an organization or an individual can deliver outputs that are totally error-free. It acts as a catalyst to enhance the overall business.
Ques. 11): What do you mean by Inclusiveness and how significant it is?
Answer: It is nothing but a step by management to sit with the workforce for inviting suggestions and feedbacks. The fact is employees are always familiar with the ground reality and they always have plans to tackle many problems and daunting situations. Taking feedback from them brings multiple benefits for an organization simply.
Ques. 12): What Is Legislative Data Group In Fusion Hcm?
Answer: Legislative data groups are a means of partitioning payroll and related data. At least one legislative data group is required for each country where the enterprise operates. Each legislative data group is associated with one or more payroll statutory units. Each legislative data group marks a legislation in which payroll is processed, and is associated with a legislative code, currency and its own cost key flexfield structure.
Ques: 13): If You Update An Assignment Record Multiple Times In A Single Day, Can You Still Track The Record, If Yes How?
Answer: For some objects, such as assignments, more than one update per day is maintained by creating a physical record for each update. Such objects include an effective sequence number in each physical record to show the order in which updates made to an object on a single day were applied.
Ques. 14): What Do You Understand By Reference Data Sharing?
Answer: In oracle Fusion Reference data sharing facilitates sharing of configuration data such as jobs, grades across business units. It can be understood as buckets of reference data assigned to multiple business units. It helps to reduce duplication and maintenance by sharing common data across business entities where appropriate. In Oracle Fusion Applications reference data sharing feature is also known as SetID. A set, which is available out of the box, is called Common Set.
In HCM Set enabled objects are: Departments, Locations, and Jobs & Grades.
Ques. 15): How Many Sections A Performance Template Can Hold and What Are Those?
Answer: An Oracle Fusion Performance Template can hold maximum of six sections, which are given below:
1. Competency Section
2. Goal Section
3. Worker Final Feedback Section
4. Manager Final Feedback Section
5. Questionnaire Section
6. Overall Review Section
Ques. 16): What’s Practical Setup Supervisor Or FSM As It’s Far More Generally Referred To As?
Answer: Oracle Fusion useful Setup supervisor (FSM) is an application that gives a give up-to-stop guided system for handling your useful implementation initiatives all through the whole implementation lifestyles cycle.
Ques. 17): What Type Of Structures Can Easily Be Managed By Fusion Tree? Is It Possible For The Users To Change These Structures?
Answer: Fusion HCM comes with many features. It can simply represent the structures of organizations, geography tree; inter departments within an organization, as well as positions associated with the same. It is not possible for the users to change the predefined tree structure. However, it is possible to create the new ones with the help of geography trees. Even a single copy can have multiple versions. This doesn’t actually mean that all the versions can be utilized at the same time. Users can consider only one at an instant.
Ques. 18): What is an enterprise structure Configurator (ESC)?
Answer: It is an interview-primarily based device that leads you through organization system configuration. Users use this device as a part of their installation to define the company systems, various activities, and function structures of the enterprise. To get access to ESC, select set-up business enterprise structures venture under the “initial Configuration assignment” listing. Moreover, you can also define organization setup, organization structure, position and jobs in an enterprise.
Ques. 19): What square measure The Common Tasks That square measure oftentimes Used throughout The Implementation?
Answer: Managing the legal addresses, grades, business units, legal entity, divisions, departments, locations, lookups, employee goal setups, review periods, documents sorts (performance related) still as managing the roles square measure the tasks that square measure quite common throughout the implementation.
Ques. 20): What Is Distribution Threshold In Fusion Performance Management?
Answer: When we create Rating Model for performance management, we do define Rating Distribution to tell what the minimum is and maximum percentage of worker should fall in each rating level. This is more commonly known as Normalization. Now the Distribution Threshold is a failed to control Number of eligible workers a manager must have to see distribution target.