Core HCM

1. Human Resource Management (HRM): This is the foundational module. It acts as a central database for all employee information, including:
   1. Personal information (names, address, contact details)
   2. Job and compensation history
   3. Organizational structure and reporting relationships
   4. Company-specific data tailored to your organization’s needs

Talent Management

1. Recruiting: Attracts and manages talent by:
   1. Creating and posting job requisitions
   2. Managing candidate pools and applications
   3. Facilitating the interview process
   4. Extending job offers and onboarding new hires
2. Performance Management: Promotes employee development:
   1. Setting goals and expectations
   2. Ongoing feedback and coaching
   3. Formal performance reviews
3. Learning: Enables training and skill development:
   1. Course catalogs and enrollment
   2. Tracking training completion
   3. Creating custom learning content
4. Compensation: Manages salaries, bonuses, and equity-based awards:
   1. Salary structure design
   2. Merit increase cycles and bonus calculations
   3. Job leveling and compensation benchmarking

Benefits

1. Benefits Administration: Manage various benefits plans:
   1. Health insurance (medical, dental, vision)
   2. Retirement savings plans (401k, pensions, etc.)
   3. Life insurance, disability insurance, and other benefits
   4. Flexible spending accounts

Payroll

1. Payroll Solutions: Automates pay calculations and tax filings:
   1. Handles gross-to-net calculations
   2. Manages deductions and tax compliance
   3. Integration with external payroll providers if needed

Time Tracking

1. Time Tracking: Records employee work hours, attendance, and time-off:
   1. Tracks regular hours, overtime, and paid time off (vacation, sick leave, etc.)
   2. Manages shift schedules and approvals

Advanced Modules

1. Workforce Planning and Analytics: Provides data-driven insights into HR trends, workforce composition, turnover, and other key metrics.
2. Big Data Analytics: Powerful analytics engine that can combine Workday data with external sources for broader insights.

Important Notes

1. Modular System: Workday’s flexibility comes from its modular approach. You can choose the modules that best fit your organization’s needs, building a custom HCM system.
2. Continuous Updates: Workday regularly releases new features and updates to existing modules.
3. Implementation and Customization: Successful Workday implementation usually involves working with a certified Workday partner to customize the setup and workflows for your organization’s specific needs.