Far more than just a traditional HR system, Workday’s integrated suite provides a comprehensive, cloud-based platform designed to empower employees, managers, and HR professionals alike. By connecting everything from goal setting and continuous feedback to career development, succession planning, and skills management, Workday Talent and Performance helps businesses not only track but actively cultivate their workforce to achieve strategic objectives and unlock individual potential.
In this article, we’ll cover the features and functionality of the Workday Talent and Performance suite that make it such a useful solution and how it can benefit any organization. Let’s get started.
Overview of Workday Talent and Performance
Workday Talent and Performance Management is a talent acquisition and performance management solution created for human resource (HR) teams. It helps align your workforce with the company’s goals, gives you insights into your workers’ key talent information, and manages key talent transactions to grow the business and help you make better decisions.
Key product areas include:
- Career Planning and Development
- Embedded Analytics
- Employee Performance Management
- Survey Campaigns
- Talent Development
- Talent Marketplace
- Talent Profile Management
- Talent Review Documentation & Talent Cards
Not only does the Talent and Performance platform provide important performance management employee insights to help maintain productivity and engagement, but it also can integrate with your other workforce management systems, like accounting and finance, to ensure your organization is operating as effectively as possible. With Workday’s all-encompassing talent management system, your employees will be able to manage their data better, assess their core skills, complete a talent review, check in with their goals, and so much more.
Workday Talent and Performance Management keeps the focus where it should be – your employees.
Understanding the Need for Workday Talent and Performance
Workday Talent and Performance offers intelligent capabilities to improve employee performance, facilitate better succession planning, and enhance skill development across teams.
Here are a few examples:
- Goal Management: Workday allows organizations to set and track individual and team goals, aligning them with overall company objectives.
- Performance and Talent Review: The system supports ongoing performance feedback and formal employee performance review processes. It provides tools for managers and employees to collaborate on evaluations.
- 360-Degree Feedback: Workday often includes features for collecting feedback from multiple sources, such as peers, subordinates, and managers, providing a more comprehensive view of an employee’s performance.
- Learning and Development: Workday can be integrated with learning management systems to manage employee training and development programs.
- Succession Planning: Workday often provides tools for organizations to identify and develop talent within the company, helping with succession planning and ensuring a pipeline of qualified individuals for key roles.
Why is Workday Talent and Performance Important?
Here are a few critical reasons to consider implementing Workday Talent and Performance into your existing technical landscape:
Change Management
Workday’s reporting capabilities and easy-to-navigate dashboard make assessing employee productivity, worker skills and abilities, and areas for improvement easier, helping you make better decisions when it comes to change in the workplace. Increased insights are possible with the Workday talent management solution. More talent data leads to a more informed business process that’s focused on achieving organizational goals and strategic objectives. And, who doesn’t want that, right?
Increased Engagement
If you want your organization to be as successful as possible, everyone needs to be on the same page. Most employees and managers would agree that this is true; however, workforces are often scattered, and individual goals, objectives, and initiatives frequently fail to align with the company’s overall objectives. Workday changes this. With easy-to-understand feedback and continually updated performance ratings, employees can engage more with their data, leading to a more cohesive, engaged team, regardless of individual titles, responsibilities, or tenure.
Workforce Development
Employee turnover is inevitable, but there are two key strategies your organization can employ to maintain stability when employees transition roles or leave the company.
- Consult internal candidate pools to fill the gap
- Focus on employee development and competency
Periodic assessments of your employees’ skills, productivity, mindset, and future goals will help them understand the extent of their potential. They will help you realize the value of a strong, cohesive workforce.
Of course, if workers still decide to change jobs or leave your organization for whatever reason, you’ll still have to find new ways to maintain a well-developed workforce. This is where internal candidate pools come into play. With Workday Talent insights, these candidate groups are automatically updated in the system, based on individual interests, preferences, and feedback, helping hiring managers make a quick decision on the best fit for the organization and its needs.
Features of Workday Talent and Performance
Now, let’s dive deeper into some of the features of the Talent and Performance suite.
Talent Profile Management
One of the best places to look for new talent is within your organization. Workday’s talent management capabilities use your core HR data on employee skills and experience to help you tap into your existing talent pools. Employees can improve their data (and their chance at a new career growth opportunity) by updating their skills and career interests at any time. This information helps you search talent pools and secure internal employees for new positions or projects that might be a good fit.
Survey Campaigns
Workday surveys are a great tool to help with productivity and decision-making. Create and distribute surveys to your workforce to help them understand their views and experiences on topics that matter to the company. Employees can complete the forms from any device, assisting with completion. And once you’ve captured the information, the survey dashboard allows administrators to monitor the campaign and talent data from one location.
Career and Development Planning
Finding the right employees is only the start of the HR journey—retaining them is even more important. Luckily, several features of the Talent and Performance Management solution allow you to engage employees with career and development planning. The tool enables employees to learn from one another through mentors and connections, fostering relationships with colleagues, knowledge sharing, and a sense of connection.
You can also provide employees with a way to visualize their next internal career move using opportunity graphs. These illustrate transitions from a specific job profile to help employees envision the opportunities and develop skills to leap forward. Workday also allows employees to give feedback, named or anonymous, at any time.
Workday Talent Marketplace
To take career and development planning to the next level, Workday offers a Talent Marketplace. This helps connect employees to opportunities based on their skills, empowering them to grow. The tool uses machine learning technology to assess their fitness for a role, creating a direct line to that opportunity.
Benefits of Workday Talent and Performance
Talent and Performance allows organizations to make meaningful changes and continuously develop their workforce. Here are just a few of the key benefits of the solution:
- A single solution for your human capital management (HCM), compensation, recruiting, learning, workforce planning, and talent system means you can say goodbye to expensive and clunky integrations.
- Reporting and analytics functionality on employee strengths and interests, skill gaps, and retention risks provides you with better information, enabling smarter business decisions and simplifying your succession planning responsibilities for the future.
- Regular check-ins and feedback from employees and managers ensure the lines of communication and collaboration are kept open.
Getting Started with Workday
Employees are the most valuable assets an organization has, and their knowledge and experience can’t be easily replaced. If you’re ready to invest in your people, Workday Talent and Performance Management is the solution for you.
Surety Systems has a senior-level Workday consulting team ready to provide you with everything from full-service implementations to integration services to simply general Workday support. We’ve included a sample profile of one of our top Talent and Performance consultants to give you an idea of what to expect when partnering with us.
Surety Senior Talent and Performance Consultant
- 7+ years of Workday experience
- Workday certified in HCM, Talent & Performance Management, and Core Compensation
- Acted as a Lead in multiple global deployments for Talent & Performance management
- Experienced with custom reporting, integration support, and testing
- Well-versed in data loading via iLoads and EIBs
Want to learn more about Workday Talent Management? Click here. Need more information about how Workday Performance Management could help you? Check out our latest article here.
Whether you have specific Talent and Performance Management needs or just need an extra hand to help you navigate through your Workday system, we have the experts to help you get it done successfully. Contact us today to get started!
