What is Workday HCM?

1. Cloud-Based System: Workday HCM is a fully cloud-based human resources management suite. This means companies access and manage all aspects of their HR operations from any internet-connected device.
2. Unified Platform: It’s not just a collection of separate tools. Workday HCM offers a single system for managing core HR functions along with talent management, workforce planning, and analytics. This unified nature is a major strength.
3. Focus on Data and Insights: Workday HCM places a strong emphasis on data-driven decision making, providing organizations with robust analytics and reporting capabilities.

Key Features of Workday HCM

1. Core HR:
1. Employee data management
2. Benefits administration
3. Compensation tracking
4. Time and attendance tracking
5. Global payroll (in select countries)
2. Talent Management:
1. Recruiting and onboarding
2. Performance management
3. Learning and development programs
4. Succession planning
5. Career development tools
3. Workforce Planning:
1. Strategic analysis of the workforce
2. Scenario planning and modeling
3. Skills-based insights for hiring and development
4. Analytics & Reporting:
1. Customizable dashboards and reports
2. Pre-built metrics and KPIs
3. Insights on workforce trends, turnover, compensation, etc.

Benefits of Workday HCM

1. User-Friendliness: Workday is known for its intuitive, consumer-grade user interface that enhances employee and manager self-service.
2. Flexibility and Adaptability: It’s highly configurable to fit an organization’s specific needs and can easily adapt to changes in processes or business rules.
3. Scalability: Workday HCM grows with your business, suiting organizations from mid-sized to large enterprises.
4. Data Security: Workday takes data security seriously, with robust measures to protect sensitive information.
5. Skills-Based Approach: The Workday Skills Cloud lets you analyze skills data to make informed decisions about hiring, development, and workforce planning.

Who is Workday HCM for?

Workday HCM is a good fit for medium and large-scale businesses looking for a comprehensive, adaptable, and data-centric approach to human capital management. Its scalability and cloud-based nature make it well-suited for organizations that are growing or need flexibility.