Core Workday HCM Modules

• Human Resource Management (HRM): This is the foundational module, storing all employee data. It handles:
  • Organizational structures (job profiles, positions, departments, etc.)
  • Key employee details (personal information, job history, compensation)
  • HR processes and workflows
• Benefits Administration: Manages the company’s benefits program. Functionality includes:
  • Configuring diverse benefits plans
  • Employee enrollments and changes
  • Integration with benefits providers
• Talent Management: Tools to attract, develop, and retain talent:
  • Performance management (goals, reviews, feedback)
  • Succession planning
  • Career development and learning opportunities
• Recruiting: End-to-end recruitment processes, including:
  • Job postings and requisitions
  • Applicant tracking and screening
  • Candidate communication
  • Onboarding of new hires
• Payroll Solutions: Accurate and automated payroll processing:
  • Salary calculations
  • Tax compliance and deductions
  • Integration with banks and financial institutions
• Time Tracking: Tracks employee work hours and attendance:
  • Timesheets and time entry
  • Overtime calculations
  • Absence requests and approvals

Additional Workday Modules

• Compensation: Design and manage compensation structures beyond basic payroll, including:
  • Salary ranges and grades
  • Bonus planning and administration
  • Equity/stock-based awards
• Workforce Planning and Analytics: Provides data-driven insights for strategic HR decisions:
  • Headcount planning
  • Workforce composition analysis
  • Retention and attrition modeling
  • Customizable reports and dashboards
• Big Data Analytics: Combines Workday data with external sources for even deeper analysis

Important Notes:

• Modularity: Workday’s strength is its modularity. Companies can select the modules they need, building a custom HR system.
• Continuous Updates: Workday frequently releases updates and new features, so the possibilities are always expanding.