The company should thus design a rewards-and-recognition system based on performance, because 'A performance-based organization is a competency-based organization,' he said.

Although different across industries, HR accounts for 50 percent of most companies' total expenses, said the Oracle executive. It is therefore vital that the HR begin transforming and becoming more strategic. 'The Philippines is moving forward into a performance-based organization,' said Darton. 'Organizations are beginning to see the benefits of a competency-based HR management system.'

Companies today should realize how technology can be an enabler to allow HR to transform the organization, said Darton. 'We want to help transform the HR, stop the brain drain in the country,' he said.

In the Philippines, all the basics are in place, so it is the right time to move forward to real human capital management. 'We've got an educated workforce, how can we get more from them?' challenged Darton.

Oracle proposes a three-pronged strategy for HCM in the country: thought leadership in the HR community in both the public and private sector; partnering with local public and private sector organizations to become learning organizations; and providing individual and integrated HCM technology, which is where the Core HR, Talent Management, Workforce Analytics, Project Fusion, and the rest of the Oracle HCM suite would come in.