HR Tech Bites - Issue #3
Special Edition: A summary of Workday's Q2 Earnings Call and a guide for how to see and be seen at Workday Rising 🕶
FYI: Workday’s 2023 Financial Analyst Day will be September 27th from 1 - 4PM PDT. Subscribe to HR Tech Bites so you can catch up on the latest news from the call!
Fuel your Brain 🧠
Q2 Earnings: WDAY
Earning results for Workday Q2 2024 are in and the company continues to be the market leader for Cloud HCM and Finance solutions. Total revenues were $1.79 billion (a 16.3% increase from Q2’2023), with subscription revenues at $1.62 billion (an increase of 18.8% from this time last year).
🔍 For more information, check out Workday’s Investor Relations events.
What else do you need to know? Keep reading 🤓
Workday has 65 million users and 5,000 customers worldwide - and celebrated go-lives for Korean Airlines, Rite Aid, and Nike this quarter.
Workday Financials continues to see momentum in the market. We’ll continue to see full platform implementations on the rise 📈 because Workday will continue to invest in Financial’s targeted sellers.
Time-to-value solutions such as Planning, Peakon, Extend, and Talent Optimization gained traction this quarter (and Workday is going to continue push selling these modules) - so it is a great time to read up on these modules to keep your skills relevant.
What about the future?
Expanding their global footprint is a huge opportunity - the U.S. represents 75% of Workday’s revenue. While they are starting to see more consistent execution in Germany, U.K. and France - international expansion will be a major focus. Workday is selling HCM and FINS hard in the EMEA region, which tends to be a market for medium enterprise businesses.
AI will make existing products more competitive, and we may see new SKUs where large language models are the basis (like Skills Cloud). 🔊 Listen up, data conversion folks - Workday is looking to leverage generative AI to do a better job of data transfers and transformation from legacy systems - and hope to automate this process with AI. More information about AI will be unveiled at Workday Rising in September.
Other highlights from the call:
The partner referral program that was unveiled at Altitude is gaining traction, but it’s too early to tell how successful it will be.
Workday will continue to shift deployments to their partner ecosystem. This means that Workday will rely less on their own professional service teams (read: if you’re part of this team, it never hurts to brush up your resume).
Need help? 📧 hrtechbites@outlook.com
PS: If you haven’t noticed, Workday has been building out their executive bench over the last few quarters. These hires are indicative of Workday’s long term strategy: scale.
Carl Eschenbach will eventually become Workday’s first solo CEO in early 2024. No, he hasn’t run a SaaS company before - but he does know scale (see Acceleration Economy’s article for a deep dive here)
Emma Chain (Adobe and Salesforce) joins as Chief Marketing Officer
Zane Rowe joins as as Chief Financial Officer (formerly VMWare)
Quick Bites 🍩
Workday Rising Events 🌅
Workday Rising is just around the corner! I have gone to Rising twice in my career and it was an invaluable opportunity to meet other like-minded Workday geeks, attend training opportunities, and go to a couple parties 😏.
Don’t be fooled - the parties are a GREAT way to network. Here are a few events you should have on your radar! All times are in PDT:
GQR Global Markets, a leading staffing firm known for its competitive Workday opportunities is hosting a happy hour on September 26 from 7 - 9PM. DM Chris Hurley for details.
Agilysis is hosting a happy hour at Shelby’s Rooftop on Sept. 26 from 6 - 8PM, RSVP here.
Hale International, another staffing firm that specializes in contract and permanent Workday opportunities is hosting a happy hour on Sept. 27 from 6 - 11PM at the W Hotel. Reach out to anyone on their team to RSVP.
ALKU, a staffing firm specializing in contracting roles is hosting a happy hour at B Restaurant and Bar on Sept. 27 from 5 - 8PM, RSVP here.
Kainos is hosting 30 mins 1-1s with their AMS Experts, book your slot here.
Alight has a lounge where you can relax - check it out here.
TopBloc’s Customer Appreciation Party is on Sept. 27 from 7 - 10PM. Space is limited, RSVP here.
Makse Group is hosting a a Rising Gathering at La Mar, register here.
OSV and EMD are co-hosting a a night around the world on Sept. 27. Click here to join the waitlist.
Hiring Hub 💼
Senior Workday Systems Analyst (remote) | Hanover Research, a research and analytics firm is looking for someone to provide development and support for recently implemented modules such as HCM, Compensation, and Benefits
Workday HRIS Manager (hybrid/remote)| Trupanion, a growing player in pet medical insurance is looking for an HRIS Manager to drive system optimization.
Workday HCM Consultant (remote) | Groundwell, a technology integrator is looking for an HCM consultant who will take responsibility for day-to-day support and administration of their customer’s Workday environment.
Sr. Business Systems Analyst (hybrid)| Lemonade, an insurance company is looking for someone to automate processes and increase efficiency for their People Operations and Finance teams.
Senior HRIS Analyst (remote)| Kraken, a crypto platform, is looking for someone tech savvy who can support their global HR department in carrying out business operations and launching initiatives.
Workday HRIS Analyst (remote) | GDT, an IT solutions provider is looking for an HRIS technical expert.
People Operations Administrator (hybrid) | GoPuff, seeks a People Operations Administrator to provide administrative and system support for their People & Culture Operations team. *Great entry-level opportunity