HR Tech Bites - Issue #4
Another Special Edition: Six things to take away from Workday's Financial Analyst day.
Why should you care? Financial Analyst days offer in-depth discussions on a company's financial performance. The management team shares strategic updates, operational highlights, industry positioning, and answers question from investors. Information that is shared during Analyst Days can influence stock prices, which makes the day crucial for investors so that they can gauge market reactions.
Let's just say if Workday's investors are happy, our jobs are more secure.
Fuel your Brain 🧠
Pro-tip: Make sure to click “Display Images Below” if you are reading this via email!
6 Things I learned from Workday’s 2023 Financial Analyst Day
Workday’s Digital AE team is focused on selling Adaptive Planning, Workday Peakon Voice, Workday Messaging, Candidate Engagement, and Journeys.
Recruiting, Time Tracking, and Payroll have the highest existing attach rates*.
*Attach rate: refers to the percentage of customers who purchase additional or supplementary products or services alongside a primary productWorkday recognizes that medium enterprise is an important component of their GTM strategy.
Medium Enterprise is on 🔥 and it will continue to burn. You’ll see it take off in the UK, Canada, France, Germany, Australia, and Japan. Workday plans to “Launch”their medium enterprise playbook globally, meaning that these countries will see more Launch implementations.
Workday is investing heavily in selling its Core Financials modules internationally.
Two of Workday’s competitors - SAP and Oracle, are rolling their customers off of on-premise FinTech solutions to the cloud. This means that Workday has a unique window to sell their FINs modules to these customers by the year 2025, so demand for FINs talent will continue to surge.
Only 3% of Workday’s ACV (Annual Contract Value) is sourced from their channel network, they want to increase this number. The more their partners sell, the better for them (and Workday).
Workday is a leader in the cloud.
According to Gartner, Workday had the largest market share for SaaS ERPs, worldwide in 2022 at 21%.Generative AI is part of Workday’s future, and it will help…
📊 Managers quickly aggregate employee performance reviews, feedback, and other performance data into a summary to support an employee’s growth needs.
⌚️ Contract teams analyze a contract that is uploaded into Workday and flag if any terms of the contract don’t match what is in Workday, saving hours of work.
💻 Developers build custom applications that suit their business needs (already available through Extend), but with a Developer Copilot that can help build, review, and document code.
Other Quick Bites 🍩
📅 Events
October 12: Make data your superpower with Dave Millner, the founder of HR Curator and author of Introduction to People Analytics. Register here.
October 26: Join Charter’s 2023 Workplace Summit. NYC residents can join IRL. Register here.
November 1: Learn brain-friendly change management strategies with LifeLabs and Mentera. Register here.
🔖 What to Read
At Rising, Workday launched their Solutions Marketplace. It has a growing list of solutions contributed from their partner and customer network. Among the solutions are how to manage employee relation incidents, advanced analytics for healthcare, workforce management reporting, and more. It’s all free, too!
HR Wizardry: if you’re interested in learning about all things HR Tech, check out Tim Whitley’s substack, HR Wizardry. His latest post touches on HR Tech in the AI revolution.
HR Brew recently asked People Professionals which HR tech makes their lives easier - Glint and HiBob make the list, click here to read.
Hiring Hub 💼
Business Systems Analyst (remote) | Greystar, a leading Real Estate company is looking for a Business Systems Analyst to provide ongoing analysis, design, and implementation for Workday HCM and Compensation modules.
Lead Workday HR Technology Analyst (hybrid - Chicago, IL) | CME Group, the world’s leading derivatives marketplace is looking for an HR Tech analyst to implement Workday, its policies, and related processes. Pro tip: reach out to the hiring manager, who is linked on the job posting.
Workday Administrator (on-site, New York)| Manatt, Phelps, & Phillips, LLP, a national professional services firm is looking for a Workday Administrator to lead the HR Team and other business partners in all things Workday development and preservation.
HRIS Enterprise Solutions Lead| Lennar, is looking for an individual to lead efforts and complex projects in the areas of Workday Absence, Time Tracking, Performance and Talent, Business Processes, Security, and more.
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 Consultant, HRIS (remote)| American Red Cross is looking for a Workday Analyst to develop, maintain, and implement their HRIS processes.
Workday Administrator (hybrid/remote) | Penn Mutual helps people become stronger through their life insurance. They are looking for a Workday Administrator specializing in Workday Financials.
Benefits Analyst (remote) | Take-Two Interactive is looking for a Benefits Analyst to manage their leaves inbox, track these in Workday, and act as a liason between HR Partners and Payroll.
HRIS Analyst (remote) | 3E boasts provides award-winning SaaS compliance and sustainability solutions to empower companies to reduce risk and drive continuous improvement. They are looking for an HRIS Analyst to optimize the performance of their HRIS, UltiPro.
Sr. HR Technology & Analytics Analyst (Denver, CO) | Advanced Energy, is looking for an HR Technology & Analytics Analyst who can collaborate with HR Leadership and functional teams to translate business requirements into effective HRIS solutions.