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What is Workday HCM?
Workday Human Capital Management is the only application that unifies HR and Talent Management into a single system-of-record. And with embedded analytics, manager and employee self-service, and a user experience unlike any other enterprise application, Workday redefines what it means to manage a global, mobile, and diverse human capital.
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Benefits and Insights
Why use Workday HCM?
Key differentiators & advantages of Workday HCM
- Model multiple types of organizations independently & simultaneously (company, department, supervisory, cost center, matrix)
- Manage staffing of both employees and contingent labor in one place - Configure organization workflows using Workday's business process framework Reorganize at any time—past, present, or future—without relying on IT
- Make better compensation decisions with contextual decision support
- Define and manage global compensation components, including base pay, variable pay, equity, and allowances - Pay for performance based on multiple factors, including organization, team performance, and individual performance
- Track and report time-off requests, balances, and accruals in real time with seamless unification to Workday Time Tracking
- Automate rules and calculations to create a consistent language of absence functions across your organization
- Provide an intuitive and easy-to-use self-service interface for employees to actively check and request time off - Empower managers and administrators with delivered reports and the ability to easily track their worker population across various leave types
WORKDAY
Cost of Ownership
Cost Structure for Workday:
| License/Subscription Cost |
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| Maintenance Cost | Based on the service hours of support purchased |
| Installation/Implementation Cost |
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| Customization Cost | Will vary depending on the type of functionalities opted as add-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 will vary depending on the training option selected, whether it is classroom and virtual training, onsite training, on-demand training |
| Recurring/Renewal Costs |
These are the renewal costs, but sometimes can also include recurring costs for integration tools or other add-on technologies not included in the base package Typical calculations:
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Pricing Details
| Product Name | Description | Price/Details |
| Annual Subscription Cost | Includes annual support, maintenance and upgrade cost | $400 - $800K |
| Deployment Options | What options are available for product deployment? |
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| Pricing Model | What is the pricing model? | Subscription-based |
| Minimum Commitment | Yes, 3-years commitment is required | |
| Custom Quote | Is there an option of requesting custom quote? | Available |
| Free Trial | Does the vendor provide a free trial option? | No |
Product Limitations
Some of the product limitations include:
- Workday is a SaaS based product with no offline capabilities. This may impede customers’ ability to access data when there is poor internet connectivity
- Private cloud HR software deployments are not supported
- Does not support Learning Management System (LMS) which is an integral part of employee engagement and performance management
- Lacks CRM capability, however it does offer CRM integration with Salesforce
- Provides limited scope for customization
Competitors
SAP SuccessFactors
BambooHR
UltiPro
Top Competitors Alternatives
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