Features of Workday HCM
Core HR Foundations
- Global Workforce Data: Provides a centralized repository of employee data, streamlining HR processes and facilitating global workforce management.
- Skills Cloud: Uses machine learning to create a rich skills database. This promotes skills-based matching for internal opportunities, talent development, and strategic workforce planning.
- Organizational Flexibility: Workday’s highly configurable structure allows you to adjust the system as your business needs change without costly customizations.
Strategic Workforce Planning
- Dynamic Planning: Enables “what-if” scenarios to examine the impact of staffing changes, budget adjustments, and strategic initiatives.
- Headcount & Analytics: Delivers insights and tools to analyze your current workforce, identify gaps, predict trends, and ensure you have the right people in the right places.
Talent Management
- Recruiting: Covers the entire hiring process, including job requisitions, sourcing (internal and external), applicant tracking, offer management, and onboarding.
- Performance Management: Provides goal setting, continuous feedback, performance reviews, and calibration tools to manage and develop your talent.
- Succession Planning: Helps organizations identify critical roles and prepare potential successors to ensure a smooth transition and mitigate the loss of key talent.
- Learning & Development: Supports a range of learning modalities including courses, videos, and collaborative learning to facilitate employee development.
Compensation
- Total Compensation Management: Manages salary administration, bonus plans, incentive programs, and equity compensation plans.
- Global Compliance: Helps ensure that compensation practices meet local laws and regulations around the world.
Time, Attendance, and Absence Management
- Time Tracking: Provides configurable ways to track time for various pay rules, overtime calculations, and compliance needs.
- Scheduling: Offers tools to build and manage employee schedules efficiently.
- Absence Management: Streamlines the process of requesting, tracking, and approving employee absences.
Payroll
- Global Payroll Capabilities: Handles payroll calculations and tax compliance across multiple countries and regions.
- Payroll Integrations: Workday integrates with major payroll providers for seamless data flow for certain countries/regions where it doesn’t provide in-house payroll solutions.
Analytics and Reporting
- Reporting Dashboards: Customizable dashboards and reports to track key HR metrics and trends.
- Workday Big Data Analytics: Provides more advanced analytics capabilities to delve deeper into workforce insights and make informed workforce decisions.
User Experience
- Intuitive Interface: Modern, user-friendly interface that promotes adoption and reduces the need for extensive training.
- Mobile Access: Allows employees and managers to access critical HR information and self-service functions on the go.
You can find more information about Workday HCM in this Workday HCM Link
Conclusion:
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