CHRO / HUMAN RESOURCES

Business leaders are recognizing they know less about their own employees than they know about their systems, customers, or products. Trends such as globalization, an increasingly diverse workforce, increased regulation, and shifting business models are emphasizing the importance of having visibility into your workforce. Workforce insight enables HR to be proactive in making sound recommendations to scale the business. HR practitioners must design and deploy programs that ensure their workforce will be ready and engaged to meet the strategic business needs of the organization.

Turn Talent Insight Into Business Growth

There are three key steps to effectively managing your workforce and translating talent data into bottom line impact:

1. Workforce Visibility: Increasing accuracy and visibility into your workforce. Organizations first need to understand the makeup of their workforce—how many people work there, where they're located around the world, what are their job roles, whether they are employees or contingent, what they're working on, how much they cost, and how they're performing. When managers and HR partners have the right tools to understand these things, they can start to align the workforce with company goals.
2. Workforce Alignment: Ensuring your employees and the work they are doing support company goals. With good data in hand, organizations can assess if employees are doing the right things in the right way, and if what they're doing aligns with organizational goals. Alignment is more than just cascading goals—people, and the work they are doing, must be aligned with goals to efficiently achieve the desired results. It is also critical to understand this alignment to identify which workers are contributing most to the organization’s success.
3. Workforce Optimization: Maximizing the processes and efficiency of the organization. Informed organizations are in the best position to assess their people practices and adapt them to achieve optimal business results. They now have the baseline from which to evaluate total cost and investment into the workforce, effectiveness of current or planned workforce initiatives, and overall productivity output. With this information, organizations can use several levers to optimize their workforce investment, costs, and output, to answer the following questions:
   • Workforce composition — Do we have the right balance between full-time, contingent, or other temporary worker types?
   • Staffing strategies — How many workers do we need to support your organizational goals? More? Less? In existing locations or new ones?
   • Pay-for-performance programs — Can we make our rewards programs less subjective and based more on real business results?
   • Leadership development — Are we investing in the right people who will take the organization into the future? How can we identify them and prepare them more efficiently?
   • Succession management — Do we have a full and ready pipeline of leaders for the short and long term? Are we ensuring our top talent have career paths that will keep them here?

The Accelerated Pace of Globalization

The workforce is becoming increasingly distributed across the globe. Although there are challenges to keeping up and adhering to global HR requirements, organizations also have increased access to global talent pools.

Workday offers the following capabilities to leverage your global workforce:

• A unified HCM and Talent Management solution that works seamlessly to assess and manage your workforce
• An intuitive self-service interface that any worker in any country can access with an Internet-enabled device in their native language
• The ability for workers to indicate mobility preferences, and the ability for managers and HR partners to easily find and allocate workers to their maximum effectiveness
• Easy-to-use, built-in Actionable Analytics tools for managers and HR professionals that provide visibility into both core worker data and performance history and ratings in one

The Changing Regulatory Landscape

To reform or not to reform, that is the question. In efforts to spark the national and global economy, governments are more active than ever. It seems the landscape changes almost every week, and HR departments are struggling to keep up with these constant changes.

Workday can help your HR department stay on top of regulatory changes:

• Multiple organizational structures can be easily reorganized to accurately reflect your business in real time
• Business processes can be established for consistency across organizations, or be customized for specific organizations to ensure that regional requirements are adhered to
• Global formats enable worker data (e.g., name, address and number formats, and even national IDs) to be captured according to local formats and customs
• SaaS delivery of updates eliminates the need for costly and complex upgrades (e.g., Workday applies tax updates automatically to Workday Payroll customers)

Retaining and Developing Your Top Talent in a Competitive Job Market

A tough economy can mean greater risk of losing your top talent as outside poachers look to ensure their own survival by stealing your leaders. In a struggling economy, it is critically important to keep your top talent and trained workforce engaged and motivated so they not only stay, but also lead your organization into the future.

Workday provides several tools to help you engage and develop your workforce:

• Equip your managers with modern tools to get real-time insights into their workers and make the best personnel decisions for their teams
• Establish organizational and individual goals to align the workforce to the business strategy
• Distribute and manage performance reviews
• Support pay-for-performance initiatives that leverage actual, objective business results of a team or individual's effort
• Allow employees to express their career goals in their profiles and provide them with development activities to grow and learn within the company
• Ensure continuity in the business's leadership pipeline and retention of key contributors to the business

Turn Insight Into Action with Workday

Imagine the organizational transformation that could be possible if your HR department were able to provide real-time, actionable insight into the talent of your organization. High-performance organizations are responsive and adaptable to market realities, whether they are new government regulations, healthcare reform, industry upswings and downturns, and more. They create a culture that values skill and talent, is ready to absorb and adapt to external shocks, and as a result outperforms the competition. Growth and differentiation are founded on the talent and effectiveness of your workforce. Imagine your HR department having this impact on your organization. Make it a reality with Workday.