Workday is best known as a human capital management (HCM) software that provides numerous solutions to help companies better tackle their HR needs.
But did you know Workday HCM has a suite of intelligent modules? Many modules in fact!
Now, you may be wondering: What are Workday Modules? These Workday HCM modules work to streamline processes that are typically carried out by HR management initiatives.
Let’s take a look at the modules of Workday Human Capital Management and how they can benefit your organization!
What is Workday Software?
Workday is a cloud-based software vendor that specializes in human capital management (HCM), enterprise resource management (ERP), and financial management solutions.
With over 9,500 customers, Workday provides customers and organizations with effective and optimized HR, payroll, and finance solutions.
Main Modules of Workday HCM
The Workday HCM system is your one-stop-shop to optimize your company’s management initiatives.
Here’s a list of the main modules Workday HCM has to offer:
Human Resource Management
Workday Human Resource Management benefits can be impactful to your overall HR management and optimization efforts. Human resource management (HRM) in Workday HCM works to provide functions and tools that streamline human resources processes like staffing and payment related issues.
And, with Workday HRM functionality, employee and company data updates anytime there are changes within the structure of an organization, job roles, or reporting priorities. This helps to establish consistency within company insights.
Features
- Compensation management
- Absence management
- Organization management
Talent Management
The Workday Talent Management system plays a major role in helping companies (and their employees) achieve goals and improve system management, company alignment, and employee development, as well as reward employees for their hard work.
An effective talent management system can also reduce costs associated with integrating new employees into the organization by automating manual administrative tasks and reducing time-to-value for new and existing employees.
Features
- Defined goals and objectives
- Onboarding facilities
- Performance-oriented management
- Career and personality development programs
- Workday succession planning tools
Benefits Administration
Workday Benefits aids in adjusting benefits plans across company lines and managing business processes associated with employee benefits elections, insurance, or eligibility needs . With this module, changes in employee data and benefits are tracked automatically, ensuring employees are insured and covered properly over time.
Features
- Provides evidence of insurability
- Offers health insurance monitoring functions
- Manages health savings account statuses
- Leverages cloud connectivity to manage plans, events, and eligibility
- Tracks open enrollment tasks
Recruiting
With the Workday Recruiting module, your talent acquisition process gets a whole lot easier! The Workday recruitment module can aid in better communication and more efficient workflows. Workday Recruiting helps companies make better decisions related to hiring processes, restrictions, and rules.
Features
- Employee screenings and head counts
- Social media marketing of job roles and requisitions
- Workday succession planning tool for better employee insights
- Employee referral structure and benefits
- Job position management
- Candidate management
Payroll Solutions
Workday Payroll encompasses all of your payroll needs in a single, comprehensive solution. Users will be able to access data whenever and wherever they need to, giving them more control over their own payroll processes. Workday Payroll also makes payroll processing easier for multinational companies by providing a single source of truth for all employee pay data and leveraging automated tools to stay up-to-date with changes to pay regulations, rules or taxes over time.
Features
- Easy payroll processing for multinational companies
- High-powered calculation engine
- Automatic tax updates
- Advanced reporting and auditing tools
Time Tracking
Workday Time Tracking can be used in conjunction with the payroll, project, and work management modules, making it more effective and easier to use across teams.
Workday Time Tracking offers easy access to time data through mobile enablement and allows users to track their time through a desktop application or applications on their mobile device. Lower compliance risk, improved productivity, and reduced labor costs are the stand-out aspects of Workday Time Tracking.
Features
- Enables the use of internet and mobile devices
- Management of time approvals
- Calculation of global time
- Self-service tools for more efficient time entry
Workforce Planning and Analytics
Workday’s Workforce Planning and Analytics solution gives users an overview of talent supply and demand, enabling them to make smarter, more informed decisions if and when business issues arise.
With the Workday analytical tool, users can gain more meaningful business insights to reach goals and objectives across teams, departments, and company locations.
Features
- Assessment of supply and demand
- Advanced workforce analytics and reporting
- Operational headcount planning
- Efficient allocation of human capital resources
Project and Work Management
The Project and Work Management module allows users to focus on influential or difficult elements that add to a company’s success, including people, nature of work, and availability of business resources.
This module also allows for effective planning, tracking, staffing, managing, and more, to ensure projects are completed correctly and on time and workers are assigned efficiently across teams.
Features
- Aids in reaching project goals and objectives
- Offers project and non-project work management systems
- Provides resource pools and labor evaluations
- Tracks costs, budgets, and pricing across the project lifecycle
Big Data Analytics
Non-Workday data, including unstructured data or large amounts of structured data, can be added to the Workday system with the use of the Big Data Analytics module.
Big Data Analytics offers insights to your workforce to help make better decisions, unify Workday data and applications, improve data security, and provide a more user-friendly experience.
Features
- Provides built-in HR templates for better data management
- Facilitates workforce planning, pay-on performance, and payroll diversity
- Drives efficient data retention and cost analysis across teams
Benefits of Workday HCM Modules
The comprehensive suite of Workday applications offers quite a few advantages for companies seeking to optimize their current business operations and adapt to future business needs.
From enhanced efficiency and data integration to improved analytics and scalability, these modules provide a comprehensive solution to meet the evolving needs of modern organizations across industries.
Workday HCM modules come with many benefits, including:
- Enhancing your enterprises workforce
- Reducing costs and time for business operations
- Improving leadership initiatives
- Easier system configuration
- Aiding in decision-making
- Compatible across mobile platforms, PC, and MAC
- And more!
How We Can Help
Having an all-encompassing software can transform your business by leaps and bounds, and the suite of applications in Workday HCM is just the place to start!
Whether you’re just getting started with Workday HCM software or you’re in need of support from other Workday applications, like their built-in analytical tools, financial services, payroll management, or talent management, Surety Systems can help with that.
Our senior-level Workday consultants have the skills and experience needed to offer everything your business needs to achieve successful implementations or integrations and ensure you’re getting the most out of your Workday investment.
Getting Started With Us
Interested in learning more about Workday Human Capital Management or how each module can benefit your organization?
Contact us today to get started on your Workday Journey with our team!
