Executive Summary
This report provides an overview of Workday Human Capital Management (HCM) and analyzes its ability to satisfy enterprises’ demands to power their people operations with an integrated HCM suite. It highlights recently delivered and long-term differentiators that set Workday HCM apart and enable people leaders to help their organizations achieve Enterprise Acceleration and change the future of work for the people in their enterprise.
With Workday HCM, Workday offers one of the most complete HCM suites available for the North American market. Recent additions in Ireland, Australia, New Zealand, and the U.K. make the vendor a global player, with more countries coming. At the heart of Workday HCM is a single platform that spans HR core, payroll, workforce, employee experience, and talent management and extends all the way to benefits automation in North America. Built on a single platform and a single database, Workday HCM has all the architectural ingredients needed for a successful HCM suite.
Moreover, Workday sets itself apart from the other vendors covered in the underlying Constellation HCM Market Overview with a well-defined and -delivered suite architecture that gets the time, pay, and benefits equation right as well as providing strong talent management capabilities. It also is a full enterprise resource planning (ERP) suite that caters to the needs of enterprises looking for an ERP solution with strong HCM. Workday deserves full credit for being both a pioneer and advocate for HCM to move to the cloud. It faces a change at the helm in 2024, with founder Aneel Bhusri handing over the keys to current co-CEO Carl Eschenbach.
The other HCM suite vendors that are part of the Market Overview are ADP, Ceridian/Dayforce, Infor, Kronos (now UKG), Oracle, SAP, and Ultimate (now UKG).
