In today’s ever-changing business landscape, business leaders need to have access to meaningful insights to make well-informed, strategic decisions and drive better business outcomes.
Company leaders and HR professionals need an intelligent solution that helps them maintain the most accurate data and quickly identify forces that drive career growth.
This is where Workday People Analytics comes in to help!
Workday People Analytics is a feature within the Workday Human Capital Management (HCM) suite that provides digital transformation initiatives, enabling users to make better decisions and gain key insights to improve workforce planning and strategy.
Read on to learn more about how Workday People Analytics can positively impact your business strategy and where our team of Workday consultants can come in to help!
What is Workday People Analytics?
Workday People Analytics is an intuitive technological solution that provides advanced data analytics and data-driven insights to help HR leaders make more strategic decisions.
By leveraging machine learning (ML) capabilities and artificial intelligence (AI) tools, Workday People Analytics can help users leverage augmented analytics to make better decisions on what matters most – their people.
What Makes Workday People Analytics Different?
Because People Analytics leverages augmented analytics, Workday can identify and explain valuable insights that users could’ve missed otherwise.
Workday provides meaningful insights that are customized, prioritized, and paired with written account explanations to support confident decision-making across the entire organization
Workday People Analytics also provides users with data security and customized insights about their biggest opportunities and risks to improve employee engagement and promote a better understanding of their own data.
Overview of Workday People Analytics
Here’s a look at everything you can access through Workday People Analytics:
Business Leader Empowerment
When users have access to large amounts of data, it can be difficult to prioritize and focus on which parts of the data will drive the biggest impact. Workday People Analytics allows people to decide which insights to prioritize and simplify the decision-making process.
It also provides personalized insights based on relevant access rights, allows users to dig deeper into their data with drag-and-drop visual data discovery, and makes it easier to share valuable insights with other stakeholders.
Making a quick, well-informed decision can be a daunting task, but Workday People Analytics makes it easier than ever. Users can find hidden patterns in core HR data and uncover targeted insights by asking the right questions and diving into the right data.
Automated data discovery allows users to quickly and accurately make decisions. This way,they have more time to focus on specific tasks instead of wasting time poking through data to find what they need.
Easily Consumable Analytics
With the use of AI and machine learning technologies, Workday People Analytics creates automated stories for metrics, trends, and KPIs, so you can share what’s happening across the entire organization.
It uses standardized definitions of metric calculations to eliminate multiple interpretations of data to help business leaders effectively determine the best use of data and deliver positive business outcomes.
Workday People Analytics Priorities
Workday People Analytics is a single system that focuses on six key business areas:
This allows users to determine areas for improvement across the recruiting process and highlights bottlenecks in the hiring process. When users dive into their analytics, they can find leads to more competitive offers and attract stronger prospects.
Additionally, users can gain insight into their offer decline rate, average time to hire, hiring sources, prospect diversity, difficult roles, hiring trends, and potential for process efficiency.
2. Organizational Composition
Users can view actionable insights about core organizational composition metrics, including average tenure, rate of promotion, span of control, headcount footprint, time to promote, internal movement trends, organizational depth in layers, and promotional gaps. They can also uncover trends in headcount movement to identify hires, terminations, and transfers across the entire employee lifecycle.
Integration with the Workday Skills Cloud helps users better understand employee data, like the average skill sets of their internal workforce or the rate at which employees participate in optional training sessions. This can help identify and address talent gaps and prioritize the best opportunities to improve employee skill sets over time.
4. Talent and Performance
With Workday, users will be able to find new ways to develop and grow their workforce, as well as boost employee performance and engagement. Workday creates a way to identify areas of the organization that show instances of high performance that go beyond the norm. More talent analysis categories include high-potentials rate, high-performer voluntary attrition rate, and performance rating overview.
5. Diversity and Inclusion
WIth Workday, users can gain key metrics across different areas of their workforce to improve employee experiences related to gender, ethnicity, and generation. Workday People Analytics analyzes representation, compensation, and promotion rates to help identify trends and outline areas of improvement. The Workday VIBE Index allows organizations to measure diversity, equity, inclusion, and belonging metrics across teams and company locations
6. Retention and Attrition
Taking the time to better understand why your employees leave can help you understand what you can do better to keep them. Finding job areas with high turnover rates and reduced employee satisfaction can help users develop a new and improved retention strategy to keep employees engaged, supported, and satisfied in the long run.
You can also study voluntary attrition, termination by reason, new-hire retention, termination by quarter, key turnover trends, and retention gaps.
- Self-service system with built-in security, compliance, and data integrity features
- Discovery boards and slides to allow for deeper analysis of key data sources.
- Personalized insights across key HR areas to drive customized user experiences
Benefits of Workday People Analytics:
Here are three benefits unique to Workday People Analytics:
- Strategic Decision-Making
Find hidden insights and trends that help decision-making quick and proactive.
- Effective Prioritization
Personalized insights highlight top risks, drivers, and opportunities that can change to meet evolving business needs or industry requirements.
- Automated Storytelling
Easy to understand narratives help users create a comprehensive story within their system.
How Can We Help?
Whether you need meaningful insights to optimize your human capital investments, want to learn more about the AI and machine learning abilities of People Analytics, want to improve business outcomes by using strategic people analytics, or are interested in starting your Workday journey, Surety Systems can help you!
Our senior-level Workday consultants have the knowledge and experience needed to facilitate effective implementations, integrations, and upgrades, ensuring your Workday investment is maximized, no matter what.
If you’re ready to learn more about Workday People Analytics or where our Workday consultants can come in to help, contact us today!