Workday HCM (Human Capital Management) is a comprehensive cloud-based suite of tools and applications designed to streamline and optimize a wide range of HR processes. Here’s a breakdown of the key components included in Workday HCM:

Core HR (Human Resources)

• Organization Management: Flexible structure to model your company’s hierarchy, job positions, locations, cost centers, and supervisory organizations for efficient management and reporting.
• Compensation: Tools for managing salary plans, grades, merit increases, bonuses, and other types of compensation.
• Benefits: Administration of health plans, retirement plans, savings plans, and other benefits programs.
• Time and Absence: Time tracking, leave requests (vacation, sick, etc.), scheduling, and attendance management with compliance tracking.
• Global Compliance: Built-in features and configurations to help stay compliant with regulations across different countries and regions.

Talent Management

• Recruiting: Candidate sourcing, job posting management, applicant tracking, interview scheduling, onboarding workflows, and offer management.
• Performance Management: Goal setting, performance reviews, feedback tools, and competency assessments.
• Succession Planning: Tools for identifying and developing high-potential employees for critical roles within the organization
• Learning: Course libraries, content creation, personalized learning paths, and tracking of learning progress.

Workforce Planning

• Analytics and Reporting: Powerful dashboards, customizable reports, and data insights into HR trends, workforce composition, turnover, and other essential metrics.
• Headcount Planning: Tools to forecast future workforce needs, model scenarios, and align staffing strategies with business goals.

Additional Modules and Features

• Payroll: Integrated payroll solutions, including self-service for employees. (Can vary based on country).
• Workday Time Tracking: More comprehensive time and attendance solution for detailed project time entries, complex pay rules, etc.
• Workday Prism Analytics: Advanced analytics features for merging HR data with financial and operational data from other sources.
• Skills Cloud: AI-powered skills database and tools for skills-based talent analytics, job matching, and career pathing.

Key Advantages of Workday HCM

• Cloud-Based: Highly accessible, secure, updated continuously, and scalable to meet your organization’s needs.
• Unified Data Model: A single system for HR data, ensuring consistency and streamlined reporting.
• User-Friendly Interface: Intuitive navigation and self-service capabilities for employees and managers.
• Configurability: Flexible to adapt to your organization’s specific processes and workflows.
• Mobile Accessibility: Workday’s mobile app lets employees and managers access essential HR information and actions on the go.