Human Capital Management
Overall Rank: 16
Category: HR Processes
Category Rank: 3
- Top Software Company of 2021
- Top Software Company of 2020
- Top HR Company
Based in Pleasanton, California, Workday has been in business for nearly 20 years. Today it is a leading provider of enterprise cloud applications for finance and human resources, helping customers adapt and thrive in a changing world. This company’s software provides businesses with helpful analytical insight along with information-backed support for decision-making. In addition to its platform, Workday also provides application programming interfaces for web services along with packaged connectors and integrations.
Workday applications have been adopted by thousands of organizations around the world and across industries — from medium-sized businesses to more than 45 percent of the Fortune 500. Some of the company’s most notable customers include Amazon, Netflix, Bank of America, and Hewlett Packard Enterprise.
A global leader in SaaS management, Workday’s data centers are located in places such as the U.S., Ireland, Amsterdam, and Georgia. Revenue for their fiscal 2021 year exceeded $4.3 billion. In 2020, Fortune magazine ranked Workday at #5 on their Fortune List of the Top 100 Companies to Work For. On top of that, Workday was named one of Ethisphere’s 2021 World’s Most Ethical Companies, which recognizes companies with a commitment to advancing business integrity.
Workday’s solution for money management operates with machine learning capabilities that detect anomalies and produce solutions to make financial processes smooth and convenient. The system automatically filters business event data into accounting programs to take the worry out of the user experience. Its electronic evidence function is advanced to the point of documenting every transaction and alteration to proactively assess risk and monitor compliance, passing any anomalies detection on to the user. Workday can find the most cost-effective suppliers, automate procure-to-pay processes, and control indirect spend to slash business budgets.
Workday Human Capital Management
Once again, Workday’s machine learning technology can save the day — in this case, for human resources problems or talent allocation issues. The system helps managers provide curated recommendations, learning exercises, and specialized career guidance for employees at scale. Augmented analytics insights are drawn from extensive data sets to boil down personnel clashes into understandable models. Workday brings intelligent automation to all phases of the attract-to-pay process, doing away with standard tasks in order to give staff a chance for increased productivity.
The platform’s cloud-based spend management solution assists users in getting a handle on indirect spend and breaking down operational costs to save money. All manual, time-consuming tasks are automated to let teams dial in on essential work processes. The spend analysis software offers an adaptable form of contextual clarity on budgeting matters. General spend management is disentangled from the particulars that cause confusion and lose businesses prime capital.
Workday’s solutions for Analytics and Reporting, Platform and Product Extensions, Talent Management, Enterprise Planning, and more make for a complete, cloud-driven enterprise management solution that consistently impresses businesses.
Workday marked the milestone of achieving net-zero carbon emission in 2020, a full year ahead of schedule. The company has run on 100% renewable energy for quite some time.
Early 2021 saw the company commit to instituting science-based emission reduction goals across its value chain. These targets are in line with the 1.5°C global warming standard. Moreover, Workday was able to dramatically reduce its historical emission to reach a lifetime net-zero carbon footprint. The company has additionally invested $1 million in projects intended to remove carbon.
The Workday Foundation stepped in to help right at the beginning of the COVID-19 pandemic, donating substantial sums to causes on the front line of the fight against the virus. It joined together with 25 partner companies to raise a collective $22 million. Within this collaboration, the Foundation contributed a combined $1.5 million to the UN Foundation, the Centers for Disease Control and Prevention, and the Silicon Valley Community Foundation.
The company has also invested around $12 million to support the social justice and anti-racism efforts of certain nonprofits.
Diversity & Inclusion
Workday signaled support for diversity and inclusion initiatives many times. The company has signed the White House Equal Pay Pledge, the Business Statement for Transgender Equality, and the CEO Action for Diversity & Inclusion Pledge.
The diversity dashboard set up within Workday’s platform shows customers real-time data on age, ethnicity, gender, veteran status, and more. Businesses can get a better understanding of their workforce with metrics on pay equity, turnover, time-to-promotion, and other indicators.
Workday installed the VIBE Accelerator Team in 2020. This cross-functional collective of over 20 employees is committed to pushing belonging and diversity for the Workday workplace, its customers, and local communities. There’s been B&D progress in some of the company’s products as well. Workday has developed VIBE Central and VIBE Index, two new tools to help organizations evaluate and stimulate their B&D outcomes.