What is Workday HCM?

Workday Human Capital Management (HCM) is a cloud-based software solution that helps businesses manage their entire HR lifecycle. Think of it as a powerful, all-in-one system for:

• Core HR: Maintaining employee data (hiring, promotions, terminations, etc.), time tracking, and compliance.
• Talent Management: Recruiting, onboarding, performance evaluations, career development, and succession planning.
• Payroll: Accurately calculating pay for a global workforce, handling taxes, and benefits administration.
• Workforce Planning and Analytics: Powerful dashboards and reports for HR insights on your organization.

Why Companies Choose Workday HCM

• Unified System: It replaces a patchwork of different HR tools with one streamlined solution, improving data accuracy, and ease of use.
• Cloud-Based: Accessible from anywhere with an internet connection. Less maintenance for IT teams.
• User-Friendliness: Workday is designed to be intuitive, reducing the need for extensive training and leading to faster adoption.
• Mobile Access: Employees and managers can access key HR features on their phones.
• Scalability: It grows easily with a company, whether you’re a startup or a large enterprise.
• Frequent Updates: Workday’s cloud architecture means new features and improvements get rolled out regularly without major disruptions.

The Workday HCM User Experience

The experience will vary slightly depending on whether you’re an employee, a manager, or an HR professional. However, some common elements include:

• Employee Self-Service: Employees can update personal information, request time off, access payslips, find company resources, enroll in training, and more. This reduces the administrative burden on HR.
• Manager Tools: Managers can approve time-off requests, manage their teams, initiate performance reviews, and access relevant workforce data.
• HR Power Features: HR staff get a comprehensive suite of tools for workforce planning, reporting, benefits management, compliance, and much more.
• Customization: Although Workday is standardized, it allows configuration to tailor it to a company’s specific needs and processes.

Caveats

• Implementation: Implementing Workday can be a significant project, so partnering with an experienced consulting firm is often worthwhile.
• Cost: Workday can be more expensive than some legacy HR solutions. However, the benefits and ROI typically outweigh this factor for many businesses.