Businesses today are rapidly moving towards cloud-based Human Resource Management Solution (HRMS) due to the complexities involved such as technical customization and deferred software updates of on-premise HR applications. Typically, cloud based HRMS enables a company to boost talent management, align performance and helps to meet the regulatory compliances. CA based Workday (NYSE:WDAY, Market Cap: $13.53 billion) is an on-demand Human Capital Management (HCM) software vendor that helps enterprises to effectively organize the workforce on cloud. “Our advanced solutions’ technical capabilities of configuration, integrations and real-time analytics are best suited for large organizations to transform HR process,” asserts Dave Duffield, Co-Founder and Chairman, Workday.
Workday’s HCM application unifies both Human Resource Management (HRM) and talent management in a single web platform. “Our Human Capital Management helps enterprises to take fast decisions for driving sales, reduce expenditure and improve the productivity,” shares Duffield. On one side, Workday’s HRM is an advanced solution for effectively handling a global workforce. From hiring employees, managing absence plans to compensation management and analyzing the workforce, HRM administers the entire process lifecycle. Workday HCM’s robust module talent management is built to transform the talent acquisition process. It includes on boarding, goal and performance management, social sourcing, recruiting analytics and development planning for businesses. “We have built a mobile interface for talent management that gives hiring managers and recruiters the freedom to collaborate and communicate from anywhere,” reveals Duffield.
Our Human Capital Management helps enterprises to take fast decisions for driving sales, reduce expenditure and improve the productivity
Workday has combined workforce planning and analytics, payroll solutions and time tracking with their HCM application for better HR processing. “Our unified workforce planning and recruiting provides accurate headcount plans from a single source, delivering a complete and updated view of the organization’s workforce,” articulates Duffield.
Dave Duffield, Co-Founder & Chairman
Workday also streamlines and simplifies the payroll process with a flexible, configurable single system-of-record. With Workday payroll module, employees can access their pay slips and payment. Further, Workday time tracking allows enterprises to control labor costs and compliance risks by integrating workflows, processes, and work rules in a single application.
One of their clients, Chiquita Brands, an American food producer, and distributor sought to bridge the gap between different cultural aspects of their international operations through the existing HR system. Chiquita professionals also had to integrate the talent management of their new acquisition Fresh Express into the system. However, their preexisting system of legacy HR process was unable to address those challenges. Hence, with the help of Workday, Chiquita embraced the modules of HCM along with time tracking, project management, and North American payroll. Following the successful deployment, “we have got better insight into our vacation exposure and approvals, talent pool analysis and employee performance,” shares Kevin Ledford, SVP, Information Technology and CIO, Chiquita Brands. On a cultural level, “Chiquita managers are now able to unify resources from a diverse team by a cloud based HR system,” states Duffield.
With a number of products in the pipeline, Workday’s vision is to add employee training and career development module in their existing checklist. The company is also bringing transactional application, reporting analytics and budgeting, planning and forecasting ability together into a single cloud based application, Workday Planning. In the days to come, the market will witness Workday extending their leadership in human capital management with Workday Learning. “With our upcoming learning application, a firm will be able to engage, align and develop people and inculcate an environment of research into the organization,” Duffield concludes.