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Benefits and Insights

Why use Workday HCM?

Key differentiators & advantages of Workday HCM

  • Deep Data Insights: Equipped with reporting and analytics tools, Workday HCM provides a complete view of critical KPIs to inform better decisions. It allows you to become familiar with your workforce, promote employee growth, foster diversity and prepare for the future. Workday’s Prism Analytics and Data-as-a-Service applications provide graphs, charts, benchmarking reports and more. 
  • Fast, Enhanced Recruiting: You can streamline and speed up the recruiting process with collaboration tools, task reminders and calendar syncing. A referral leaderboard encourages employees to refer other qualified candidates. 
  • Easy Expense Reporting: Mobile receipt scanning and approval workflows simplify the expensing process for employees and managers. You can also set spending controls and give employees the ability to start reports. With data analytics tools, you can spot trends and gain insight into expenses throughout your company. 
  • Efficient Absence Management: This feature uses a smart calendar for managing time off. It also provides tracking for different types of absences and the ability to analyze carryover. 
  • Simplified Time Management: Time tracking and approval is available on any device, and alerts surface items that need attention. The system automates rules and calculations to cut down on manual tasks and the risk of errors. 
  • Improved Hiring Decisions: Dashboards present all your talent acquisition data in one place for easy viewing, and machine learning suggests areas of improvement. You can also compare your company to peers via benchmarking and use compensation comparisons to create effective offers. 

Industry Expertise

Workday HCM is deployed by thousands of customers around the world and is suitable for any industry, ranging from retail and financial services to technology and the nonprofit space. The solution serves dozens of Fortune 500 companies. Its client list includes Amazon, Target, Thomson Reuters, Patagonia, Bank of America, Rolls Royce and Adobe.

Key Features

  • Payroll: Workday HCM offers payroll capabilities for the U.S., U.K., France and Canada. All transactions compile in the payroll module. It includes a calculation engine, which enables running reports and calculations for groups and individuals at any time. A compliance dashboard shows information about upcoming changes as well as the areas of greatest impact within your organization. 
  • Benefits Administration: The software supports a variety of plans, such as health, flex, wellness and retirement. Tools such as the ACA dashboard ensure proper coverage as well as aid managing forms and regulatory changes. The system supports integration with hundreds of providers. 
  • Talent Management: This feature includes onboarding and career and development planning components. New hires can access messages, videos and more from a single dashboard, and there’s also support for international and internal transfers. Pulse surveys and a skills cloud provide insight into your workforce. Additionally, you can set goals, perform reviews, manage succession plans, aid employee career development and pinpoint retention risks. 
  • Learning Management System: Equipped with LMS capabilities, this module helps your organization deliver and track a variety of training materials. Elements include scoring, quizzes, learning campaigns, video, learning paths and more. You can also offer courses to external groups. For extended training, the Workday Content Cloud grants access to third-party content directly from Workday HCM. 
  • Compensation Management: With this feature, you can build customized compensation packages for global use by choosing from over a dozen compensation plan types. It supports international currencies and allowance plans based on local limits. The toolset includes a grid worksheet, events coordination for things like new hires and promotions, pay-range segments, tracking of pay equity, configurable statements, and unified data from other Workday HCM modules such as payroll and benefits. 
  • Workforce Planning: The Workday Adaptive Insights Business Planning Cloud provides tools to create models, compare what-if scenarios and build hiring strategies. It also facilitates collaboration along with evaluation of metrics like costs and workforce breakdown. The platform provides review and approval workflows and integrates data from other organizational systems. 
  • Global Compliance: The solution’s flexibility enables you to configure the pre-built frameworks based on your company’s needs. It contains support for 240 countries, 1,500+ reports, 170 absence plans, geographic controls such as privacy preferences and date formats, and over 3,000 localized data fields. You can automatically translate into over 30 languages, receive free legal support across 58 jurisdictions and control all aspects of the setup. 
  • Workday Marketplace: You can extend the capabilities of Workday HCM by connecting it with third-party integrations for case management, hiring, training and other processes. Partner solutions include LinkedIn Learning, Salesforce Worker and Salesforce Chatter, Saba, HireRight Background Check, and Humanity Employee Shift Scheduling. 

Limitations

  • Workday HCM is a SaaS-based product with no offline capabilities. This may impede customers’ ability to access data when there’s poor internet connectivity
  • Private cloud HR software deployments aren’t supported
  • Lacks CRM capability. However, it does offer CRM integration with Salesforce
  • Limited scope for customization

Workday HCM Suite Support

With support teams in the U.S., U.K. and Australia, Workday provides support 24/7, every day of the year. All customer support takes place in the Customer Care Portal. Any fixes that occur are applied to the entire platform, and since each customer uses the same version of Workday HCM, this resolves the problem for everyone.

mail_outlineEmail: No support email is listed. Users can visit the Workday community for a DIY approach. It contains information on updates, fixes to issues and new updates, as well as a place to discuss any problems with other customers and partners.
phonePhone: Workday does provide the option to work through submitted cases via phone.
schoolTraining: Workday provides in-person, on-demand, virtual and independent learning options. The course catalog is available when logged in to an account. There are also two training kits. The Adoption Kit delivers just-in-time materials that cover common user tasks via webinars, step-by-step instructions, videos and more. The Touchpoints Kit contains information about the entire Workday application suite to facilitate better implementations no matter which products an organization deploys. Lastly, Workday offers an accreditation program for in-depth training.
local_offerTickets: Submitting tickets happens within the Customer Care Portal. Users can choose severity level and track progress until the issue is resolved. Level 1 cases receive escalation for a response within an hour.

Cost of Ownership for Workday HCM

License/Subscription Cost
  • Based on key metrics such as total company revenue and employee size, not just per user
  • Support, maintenance and automatic upgrades are included as part of the annual subscription cost
Maintenance Cost
  • Based on the service hours of support purchased
Installation/Implementation Cost
  • Implementation costs are typically 1.25 times the annual cloud subscription cost and involve project consulting costs, such as those for a Project Implementation Advisor, a Functional Implementation Advisor, a Technical Implementation Advisor, etc.
  • Other important factors are the service provider chosen for initial implementation, production support, modules selected and complexity of the implementation
Customization Cost
  • Will vary depending on the type of optional functionalities added-on
Data Migration Cost/Change Management/Upfront Switching Cost
  • Includes the cost to switch from the existing product to Workday. The enterprise will need to invest in change management
Training Cost
  • It varies depending on the training option selected and whether it’s classroom training, virtual training, onsite training or on-demand training
Recurring/Renewal Costs
  • Typical Costs:
    • Renewal Cost (Year 1): Base cost (1 + X% + CPI)
    • Renewal Cost (Year 2): Renewal Year 1 Subscription Fee (1 + X% + CPI)
  • These are the average renewal costs, but sometimes they also include recurring costs for integration tools or other add-on technologies not included in the base package
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