What is Workday HCM?
Workday HCM is a cloud-based HRM software. It offers human resource management, workforce planning, recruitment, talent management, compensation & benefits, payroll, time and attendance, and other features. Workday HRM also offers a module for educational institutions. This includes recruiting and admissions, curriculum management, records, advising, and financial aid tracking.
Workday HCM’s meaning is Workday human capital management. This is where employees and managers are provided self-service portals through which they can access information required about other members, performance, and work. Moreover, employees can also avail mobile access to the tool, which allows them to access the portal to any web-enabled mobile device. Employees can also use native applications available on iPhone, iPad, and Android with Workday 19.
You can access analytics and report from this tool through targeted real-time dashboards and pre-delivered reports.
- Company: Workday inc
- Website: https://www.workday.com
- United States
Key Metrics of Workday HCM core
The Workday solution helps companies manage their benefit plans in an efficient, flexible, and secure manner. Companies also have access to a variety of benefits providers (health insurance, 401(k)s, life insurance, etc) via the Cloud Connect for Benefits.
The Cloud Connect for Benefits includes a pre-built integration catalog to many different providers. It automatically takes employee information data from the Workday HCM system so users won’t have to worry about manually entering data. It also automatically updates any change in employee status – all the user has to do is schedule the updates.
Here is the list of Workday HCM modules available for human resource management.
With the payroll solution, users can make multiple payroll calculations at any time. Can perform batch calculations either by group or workers. Have flexibility with earnings and deductions, and run audit reports. Moreover, for companies with branches in other countries can make use of the Workday HCM software Cloud Connect for third party payroll. Here users can use the local payroll services in desired countries while still using payroll data provided on Workday.
Workday Time Tracking
What makes the Workday hr system a preferred option, is that for companies which function with remote working. Their employees can clock in and out via either a web browser or a mobile device. Moreover, companies that require physical time tracking clocks can make use of Workday hris through API.
Workforce Planning and Analytics
Users can utilize business intelligence metrics to analyze the company workforce (labor costs, what positions need talent etc). Users who want to know if there’s a talent shortage can create headcount plans via the Supply & Demand Analysis.
Workday human resources can create a variety of content, such as videos, documents, and surveys. They can also track attendance and performance of instructor-led training courses. An unlimited number of content can be stored.
Workday HCM Pricing
Workday HCM Features
Here are some of the key features:
- Time Tracking
- Goal Management
- Succession planning
- Global payroll tools
- Career and development planning
- Recruiting tools
- Strategic workforce planning
- Workforce analytics
- Operational headcount planning
- Workday Big Data Analytics integration
- Business assets
- Grants management
- Purchase orders
- Real-time spend analytics
- Revenue management
- Project management
- Custom reports
- Manage your asset roster
- Centralized business management
- Talent Management
- Payroll Solutions
- Performance Management
- Career and Development Planning
- Cloud Connect for Third-Party Payroll
- Organization Management
- Absence Management
- Benefits administration
- On-boarding tools
- Performance management
- Revenue management
- Revenue recognition
- Accounting and finance
- Management reporting
- Mobile friendly
- Online support
- Automatically reconcile bank statements
- Monitor processes and workflows
Workday HCM Pros and cons
- The dashboard has icons that are helpful for navigating the system like vacation time, directory, etc
- Easily enter time worked and time-off request policies
- Lots of options for integration with third parties
- Easy to use, custom, report capability with the option to expose reports as services (RaaS).
- Fairly easy to learn and use add-in for Eclipse for complicated integrations (Workday Studio).
- Training is expensive and is basically required to do an implementation due to a lack of available reference material. Recording online training for future reference is not permitted
- Certain functionality and community information is only provided to “my hr Workday Implementation partners”. This makes it nearly impossible to implement in-house without paying to outsource some of the work to a workday partner.
- Workday hr software doesn’t seem to have been built with performance in mind. Even with server-side paging, reports and integrations are very slow.
Workday HCM Integration
Workday integrates with the following business systems and applications:
- Cornerstone OnDemand
- Lumesse TalentLink
- SSN Verification
- Directory Services
- Nettime Solutions*
- Benefits of using Cloud Connect
- Cloud Connect for LMS
- Cloud Connect for 3rd Party Payroll
- Salesforce Sales Cloud
- ADP Check Printing
- Check Print
- Electronic Payments
- Travel Booking
- ADP Tax Filing
- Ceridian Tax Filing
- ADP Check Printing
- Canadian Check Printing
- Canadian Tax Revenue Agency
- Quebec Tax Revenue Agency
- Payroll Inputs
Expenses and Procurement Connectors
- American Express
- Bank of America Visa
- Citibank Visa
- Supplier Network
Custom Development Connectors
- Worker Sync
- Worker Organization
- Competency Model
- Job Profile and Job Family
- Worker Time Block
- One-time payment
- Small Business
- Large Enterprises
- Medium Business
- Cloud Hosted
Workday HCM Training
Workday provides with a lot of vendors to have a Workday HCM online training from where you can benefit.
Here are some vendors who provide the Workday HCM certification :
Workday HCM Support
Workday hr tool has created a support team here to help provide answers and resolutions to questions or issues. After the request has been raised, the customer will receive a call from customer support. Followed by a confirmation email. Post this, the request will be sent to the correct customer service representative, who is responsible for providing status updates to the customer.
Moreover, for additional resources like product documentation, information about new features, and communication with other customers, you can visit the Workday Community.
Workday HCM Competitors
Here are some Workday HCM alternatives Toolsmetric recommend you to see before opting this software for your business :
Workday Recruiting has taken our HR needs to the next level. Where can you you find a software that has the combination not just for your HR needs but for finance and planning as well. Each time I have board meetings at the bank, I feel secured that I can extract all the information I need from this software. It didn't just keep my work organized, but also gave me the ability to track data ranging from time sheets to expenses which is what I basically needed. I'm so glad we invested in this software which has lightened my workload in half.