Workday Blog •

Video: Future Forward HR: How HR Leaders Can Elevate Their AI Strategy

The role of HR is no longer solely about managing workforce operations. HR insights and expertise are now crucial in shaping and executing an organization’s AI strategy within the workplace. But questions arise: How much do HR leaders need to know about AI, and why should they be regarded as key players in AI-related decisions?
In this episode of Future Forward HR, a Workday video and podcast series that explores insights shaping HR’s future, Workday leaders discuss what HR needs to know to get...
Workday Blog •

Leveraging AI to Boost Talent Engagement and Internal Mobility

Internal mobility is a well-known approach to closing the skills gap. It’s also a key driver of employee engagement, development, growth, and satisfaction. As a result, internal mobility has become a business imperative for companies aiming to retain and grow their talent.
According to data in the “Workday Global Workforce Report: Restoring Trust Before Your Top People Leave,” 75% of the industries we track report increased turnover among high-potential employees. To address employee attrition,...
Workday Blog •

Rewire the DNA of Your Business for Speed and Agility

No longer just an aspirational state of being, agility has become a necessity for companies to survive and thrive. But despite the acceptance of agility as a pressing imperative of the modern organization, HR leaders need to confront the next challenge: making agility scalable and sustainable.
That requires agility built into the company’s organizational structure, meaning the reporting structure or management hierarchy within your company. To thrive in the fast-changing and disruptive “now” of...
Workday Blog •

Video: Future Forward HR: Middle Managers Are Key Players in HR’s AI Evolution

Neil Jensen: Welcome to Future Forward HR, a Workday series where we explore insights shaping the future of human resources. I'm Neil Jensen, Vice President of HCM Product Strategy. Today, we're diving into HR's AI evolution and the pivotal role of managers in AI's impact. Joining me is Kathy Pham, Workday's Vice President of AI and Machine Learning. Together, we'll share insights for empowering HR and managers in adopting AI. Welcome, Kathy.
Kathy Pham: Thank you. Thanks for having me.
Jensen:...
Workday Blog •

The Surprising Ways Your HCM Could Be Holding Your Business Back

Cloud technology has become foundational for operational flexibility, scalability, and innovation. But as companies navigate and respond to rapid-fire pivots in the business landscape, even a cloud-based platform can get a little cloudy. The fact is, not all cloud-based platforms offer the same level of flexibility, scalability, and innovation.
Choosing the right platform can be the difference between innovation and leadership—or stagnation.
Why Simply Shifting to the Cloud May Not Be Enough: Co...
Workday Blog •

Why HR Leaders Must Get More Strategic About Payroll

Faced with a rapidly changing business landscape, the C-suite increasingly looks to HR leaders to create a robust talent strategy that fuels the broader business strategy. That’s a positive trend in helping HR achieve the strategic partner status it deserves. But for HR leaders to continue to elevate their strategic presence, operational HR functions must also evolve—specifically, payroll. 
Payroll operations is a business-critical function, but its back-office nature fosters the notion that run...
Workday Blog •

How Companies Use Workday AI to Accelerate Upskilling

As leaders, we know upskilling employees is the answer to preparing our businesses for the future of work, but a question remains: how do we get better at it? Can we get faster and more efficient at upskilling, especially since the skills our organizations need seem to be changing all the time?
The answer is yes, and AI will play an important role. It’s already happening: customers at Workday Rising, our flagship event, shared how leveraging Workday AI across the Workday platform has been instru...
Workday Blog •

How Flexibility Can Drive the Great Retention of Frontline Workers

The Great Resignation defined the labor landscape of 2021. With workers quitting their jobs in droves, employers are facing a competitive landscape when attracting top talent—especially in industries with frontline workers. Hospitality and retail, for example, have the highest quit rate, and as a result, attracting and retaining talent in those sectors is challenging.
But as we go further into 2022, companies with a workplace model that supports a worker-first culture have a better chance of tur...
Workday Blog •

It’s All in the Details: How Data-Rich Subledgers Fuel Financial Agility | Workday

For financial services companies, the ability to tackle the convergence of sweeping regulatory changes and downward revenue pressure—and emerge stronger—could come down to a data-rich source hiding in plain sight: subledgers.  
Despite being an essential repository for transactional data across operational systems, subledgers (also called subledger journals) haven’t been fully leveraged for richer analytics at most financial services companies. Reasons for this include the limitations of legacy...
Workday Blog •

How Banks and Insurers Can Turn Quantities of Data Into Quality Insights

Adapting to the shifting needs of the customer has always been a driver for change in banking and insurance—and that's no different in a pandemic-impacted landscape. But in the past, meeting the needs of customers largely focused on providing digital tools, such as mobile apps and self-service kiosks. 
In response to COVID-19 disruption, transformation in financial services must now center on anticipating customer needs and developing solutions that mitigate the disruption—and for banks and insu...
Forbes •

Workday BrandVoice: Unlocking The Power Of Data For The Changing World Of Business

By Jim Gahagan, principal product marketing manager for financial services, Workday
In many ways, we’re in the golden age of data, where companies have more data across their organizations than ever before. Yet some firms are still in the dark. Their legacy systems have kept data inaccessible, inaccurate, and isolated.
To thrive in this data renaissance, financial services need to make a fundamental shift in how they extract value from data. Modern innovations are fueling this movement, enabling...
Forbes •

Workday BrandVoice: Citizen Data Scientists: The New Drivers of Transformation

By Jillian Ogawa, Staff Writer, Workday
Data science is having a moment. Since being named “the sexiest job of the 21st century,” data scientists have become every industry’s must-have hire. Strong math and computer science skills, combined with the ability to extract and understand data and trends, is a skillset that’s going to get almost any company to “swipe right.”
But high demand can make data scientists prohibitively expensive for midsize companies. And in a marketplace where data is the...
Forbes •

Workday BrandVoice: Winning The Battle For Talent Isn’t Only For The Tech Industry

By Jillian Ogawa, Staff Writer, Workday
A pinstripe suit and a job on Wall Street are historically regarded as markers of success for many college grads. But these days, the banking sector may not hold the same shine as the cutting edge world of tech. Compounded by the nationwide skills shortage, banks and other institutions that make up the financial services (finserv) industry sometimes struggle with attracting and retaining top talent.
To win the battle for talent, finserv must adopt an age-...

IT Skills Gap | How IT can overcome the tech talent shortage.

Solving IT’s talent crisis won’t happen by focusing on head count alone. Instead, innovative CIOs are leveraging AI and ML advancements to support HR in cultivating a workforce that prioritizes a skills-based strategy. This approach empowers organizations to move from the limitations of traditional role-based jobs and find the talent they need within the workforce they have. To close the IT skills gap, AI and ML optimize this process by leveraging data to quickly surface the skills needed and ma...

HRM vs. HCM

Human resource management (HRM) and human capital management (HCM) are related but not identical. Understanding the differences between the two is an important step for any business looking to elevate its HR system and capabilities to better support business strategy. 
When it comes to HRM vs. HCM, some overlap exists. Both are methods of supporting daily HR operations to achieve business goals, and both increasingly rely on technology to optimize productivity and efficiency. But there are also...
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