DigitalCFO Newsroom | 8 November 2022
Workday announced it has been named a Leader in the Gartner Magic Quadrant for Cloud HCM Suites for 1,000+ Employee Enterprises.
Workday, a leader in enterprise cloud applications for finance and human resources, today announced it has been named a Leader in the Gartner Magic Quadrant for Cloud HCM Suites for 1,000+ Employee Enterprises*. Workday was recognized as a Leader for the seventh consecutive year and positioned the highest for overall Ability to Execute.
Organizations across the globe continue to face significant challenges in attracting, supporting, and retaining talent amid a tight labour market and evolving employee expectations. To deliver engaging and personalized employee experiences, organizations need a unified view of their workforce. More than 4,500 global customers – and more than 50% of the Fortune 500 – including Banner Health, Everise, Kohl’s, Lloyd’s Banking Group, McKee Foods, Nasdaq, Inc., Palm Beach State College, Tennis Australia, Thomson Reuters, and more are using Workday Human Capital Management (HCM) to automate HR processes, support and empower employees, and adapt to changing business and workforce needs.
With Workday HCM, customers can:
Elevate Experiences with New Innovations in Skills and Employee Engagement. • Organizations are prioritizing skills insight and development as the workforce becomes more agile. To support this and build on the success of Skills Cloud, which is included in Workday HCM and leverages machine learning (ML) to maintain skills data, Workday recently introduced new technology that allows organizations to easily and securely bring skills data in and out of Workday. In doing so, organizations can gain deeper insight into workforce skills to help deliver more personalized development recommendations and nurture career growth.
In addition, to gain a holistic view of employee engagement across the business, global organizations are using Workday Peakon Employee Voice to give employees a confidential platform to share honest feedback about their experience, expectations, and health and well-being. Organizations can then use these insights to take meaningful, tangible actions that help to enhance the employee experience.
Support Various Types of Workers with Unified Workforce Management Solutions. • The shift in workforce composition is driving many organizations to develop a holistic workforce strategy that supports various worker types. Following the acquisition of VNDLY, Workday will provide organizations with a comprehensive solution that helps manage salaried, hourly, contingent, and outsourced workers.
Workday also provides innovations to support frontline workers, managers, and operations leaders, including Workday Scheduling and Labour Optimization, a worker-first scheduling solution that leverages artificial intelligence (AI) to match labour demands with worker preferences. It is part of a unified workforce optimization offering that includes Absence Management, Payroll, Talent Management, and Time Tracking to help organizations more easily attract, engage, and retain talent all in one system.
Leverage Reporting and Analytics Tools to Understand Workforce Trends. • Organizations need deeper visibility into their workforce and real-time data to help them make faster decisions that support the business. Workday People Analytics uses AI and augmented analytics to help customers better understand the trends of their workforce, including DEI (diversity, equity, and inclusion) efforts, retention and attrition, hiring, skills, and performance – and the drivers behind them.
Comments on the News
“Workday HCM in Rolls-Royce is much more than an HR system,” said Marcus Millership, transformation director, global business services, Rolls-Royce. “It’s a business tool to inform the business, to give insights, and manage some of our signature processes.”
“We believe we are recognized because of our ability to adapt to the needs of our customers, enabling them to create and deliver experiences that meet the unique needs of their employees,” said David Somers, group general manager, office of the chief human resource officer product, Workday. “Workday HCM provides customers with a comprehensive view of the critical workforce areas across their organization – skills, employee sentiment, talent performance, payroll, and more – to help support and adapt to changing worker expectations, while empowering them to grow and scale their business.”