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What Are The Features of Workday?

 

Workday Training

Introduction:

Workday is a widely used cloud-based software that is based on the SaaS business model. This platform is extensively used for the companies’ Human Capital Management (HCM) and financial business management. In addition, Workday manages business functions like project management, finance staffing, compensation management, human resources, etc. This HCM platform allows 24x7 access to various information over a highly secure network and offers easy-to-use access items like leave balances, earning statements, etc. Various companies widely use the Workday HCM platform to simplify their business operations. This has led to a rise in the demand for Workday professionals. Therefore, many training institutes offer Workday Training to help aspiring professionals learn more about this platform and build a secure career.

This blog explains various features of the Workday HCM platform. Read on to know more.

Workday Features:

Workday has unique features like Goal Management, Performance Management, Succession Planning, Payroll Solutions, Career and Development Planning, Time Tracking, Payroll Co-Sourcing Services, Talent Management, and Cloud connect for third-party payroll.

Let us look at the Workday features in detail.

Goal Management: This feature of Workday helps organizations design their workforce as per the business goals and allows the users to align their teams more effectively.

Performance Management: The Performance Management feature of Workday handles global talent from one system and allows the employees and managers to check their talent by analyzing the compensation recommendations using performance ratings.

Succession Planning: This Workday feature prepares future leaders to recognize and elect upcoming leaders. Furthermore, Succession Planning helps organizations identify deserving people and terminate complex leadership gaps.

Payroll Solutions: The Payroll Solutions feature of Workday is a complete spectrum that every enterprise Payroll needs. This feature offers greater insights, flexibility, and control that a company needs for support.

Career And Development Planning: This Workday feature is used for career and development planning for potential managers. It is an important feature for companies using Workday and helps one learn in a cultured workspace.

Time Tracking: The Time Tracking feature of Workday is used for global attendance, user-driven, global time application, and manages HCM, Payroll, projects, and absence management.

Payroll Co-Sourcing Services: This Workday feature effectively manages the spectrum of a company’s payroll requirements using the Workday Partner Outsourcing services.

Talent Management: The Talent Management feature of Workday allows companies to access talent and align the performance pay and leadership access within the organizations.

Cloud Connect For Third-Party Payroll: Workday’s Cloud Connect For Third-Party Payroll feature is used for easy payroll integration by connecting with various third-party tools.

Conclusion:

To summarise, Workday is a robust HCM platform used for companies’ Human Capital Management (HCM) and financial business management. Workday manages business functions like project management, finance staffing, compensation management, human resources, etc. It is a widely-used platform and has led to a rise in the demand for Workday professionals. Therefore, one must consider joining Workday Online Training to learn more about this HCM platform. Several features of Workday include Goal Management, Talent Management, Succession Planning, Payroll Solutions, Performance Management, Time Tracking, Career and Development Planning, Payroll Co-Sourcing Services, and Cloud connect for third-party payroll.  

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