What is Workday HCM?

• Cloud-Based System: Workday Human Capital Management (HCM) is a cloud-based software suite designed to handle the entire employee lifecycle, from hiring to retirement.
• Unified Data Model: Unlike traditional HR systems that spread data across different modules, Workday uses a single, unified data model. This means changes made in one area update the system in real-time.
• Flexibility: It’s highly configurable to adapt to an organization’s specific processes and needs.

Why Workday HCM Is Important

• Centralized HR Data: Consolidates employee information into a single point of access, improving data accuracy, reporting, and decision-making.
• Employee Self-Service: Employees can view benefits, update personal information, request time off, and more, streamlining HR processes and increasing employee satisfaction.
• Real-Time Analytics: Built-in analytics tools provide insights into workforce trends, retention, and talent gaps, enabling data-driven decisions.
• Agility and Scalability: As a cloud solution, Workday grows with a business easily. Plus, regular updates ensure access to the latest features and security patches.

Key Workday HCM Concepts

• Business Processes: The heart of Workday, business processes are configurable workflows that automate HR tasks (e.g., onboarding, performance reviews, promotions).
• Supervisory Organizations: These define a company’s management hierarchical structure and are used for controlling access to information and processes.
• Security: Workday’s security model is highly granular, allowing organizations to set permissions on who can view and edit data at various levels.
• Worktags: These are labels or attributes you apply to employees and other objects in Workday (e.g., job title, department, cost center). These allow for flexible filtering and reporting.
• Worker Profile: The core record for an employee, containing personal information, job history, compensation, and more.
• Reports: Workday offers built-in reports as well as the ability to create custom ones for specific needs.