Workforce Management
Workday | September 08, 2023
Workday retained its position as a leader in Gartner MQ 2023
The company, with its AI and ML framework provides ERP solutions for finance and people
Gartner Peer Insights evaluates consumer experiences on the basis of peer reviews and ratings
Workday, a prominent provider of enterprise cloud applications in finance and human resources, has reclaimed its position as a leader, in the 2023 Gartner Magic Quadrant for Cloud ERP. This recognition is based on the company's extraordinary visionary completeness and its ability to effectively execute in this industry. Workday's cloud ERP solutions cater to a global clientele and are widely adopted by organizations across various industries.
Workday, with more than 10,000 customers in 175 countries continue to execute for customers and provide innovative solutions that enable service-centric enterprises to adapt to and prosper in the evolving world of work.
Group General Manager, Terrance Wampler, Office of the CFO at Workday stated,
Workday is the only cloud-native ERP platform specifically designed for service-centric organizations to manage their money and people together in one, unified system.
[Source: Cision PR Newswire]
He added that, customers using Workday across various sectors can enhance their comprehension of the factors influencing profitability down to the finest details, by having a unified source of accurate financial and personnel data and a flexible framework centered around AI and ML. This empowers them to swiftly adapt to address their business's requirements.
Workday's cloud ERP suite includes Workday Financial Management, Workday Human Capital Management (HCM), Workday Spend Management, Workday Accounting Center, Workday Prism Analytics, and Workday Adaptive Planning. These solutions empower organizations by automating processes, unifying finance and HR data, and facilitating confident decision-making. The company’s cloud-native ERP platform is uniquely designed to meet the needs of service-centric organizations by providing a unified system for managing finances and people. With AI and ML at its core, it offers unparalleled insights into profitability and performance, enabling businesses to make agile decisions.
In the most recent customer survey conducted by Workday, customers of Workday HCM and Workday Financial Management expressed a satisfaction rate of 97%.
Workday increases business agility, scalability, and self-sufficiency in system management while lowering information technology dependency. It interfaces with a wide variety of ecosystems to facilitate simple growth using technologies that need little or no coding, all while preserving solid security. Users who consolidate data from finance, human resources, and operations receive deep insights into profitability and performance.
The integration of AI and ML speeds up processes, allowing workers to focus on more significant projects. It provides essential workforce skill analytics, such as detecting gaps, analyzing current and future skill demands, and finding chances for redeployment, which makes it a game-changing solution for contemporary enterprises.
Gartner Peer Insights assesses customer experiences based on reviews and ratings by peers. Workday has received high marks for customer satisfaction, with customer reviews highlighting the platform's configurability, ongoing feature development, and role in driving transformation throughout various industries.
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Employee Experience
ADP Research Institute | September 13, 2023
ADPRI released ‘Today at Work’ a new quarterly report series
The report uses proprietary data to provide a comprehensive view of the global workforce.
The research includes data from 25 million U.S. workers in 29 countries to show a global perspective on workforce dynamics.
The ADP Research Institute (ADPRI) has released a new data-driven resource, 'Today at Work,' providing insights into the business impact of promotions and introducing a real-time measure of worker motivation and commitment. This comprehensive analysis leverages ADP's extensive dataset and surveys spanning nearly a decade to offer valuable perspectives on the world of work.
ADP Chief Economist and Head of the ADP Research Institute, Dr. Nela Richardson, remarked
With so much data at our fingertips, we have the opportunity to tell the full story of the workforce with an eye toward its continued evolution and change.
[Source: Cision PR Newswire]
She further supported the statement with an example that decision-makers and economists have traditionally focused on productivity as a critical metric, but assessing the factors that influence productivity has proven to be a challenging endeavor. In the report, she said they are able to interlink motivation, commitment and productivity. Understanding the intricate relationship between promotions, employee motivation, and commitment is crucial for organizations aiming to retain and engage their workforce effectively. By uncovering these dynamics, businesses can develop strategies to support career advancement while mitigating the risk of employee turnover.
The ADP Research Institute's insights are derived from its extensive dataset, representing over 25 million U.S. workers, and surveys conducted in 29 countries, providing a global perspective on workforce dynamics.
The report provides a multifaceted view of workforce-related topics, including the impact of promotions on employee retention and the development of the EMC Index as a tool to measure worker motivation and commitment. It emphasizes the importance of understanding these aspects to enhance productivity and informs decision-makers about the business outcomes.
The report delves into the significance of promotions, highlighting their impact on businesses under specific conditions. ADPRI conducted a thorough analysis of job histories for over 1.2 million U.S. workers between 2019 and 2022 to uncover a relationship between promotions and employee turnover. It revealed that, within a month of their first promotion, 29 percent of individuals left their employer, compared to 18 percent who would have left without the promotion. The report also explores various factors influencing promotion impacts, such as job requirements and industry.
Additionally, the report introduces the Employee Motivation and Commitment (EMC) Index, a tool designed to gauge worker allegiance. The EMC Index, built on a decade of surveys involving over 490,000 workers across 29 countries, offers real-time insights into employee motivation and commitment. The report underlines the connection between worker motivation commitment and productivity, emphasizing the importance of understanding and boosting these factors. The EMC Index also revealed a correlation between employee motivation, commitment and output. Those with a high level of productivity are 2.6 times more likely to respond to inquiries regarding their motivation and work positively.
The ‘Today at Work’ series of reports offers a unique blend of data and surveys, delivering actionable insights to decision-makers in areas where data has traditionally been limited. The focus on employee motivation, commitment, and the impact of promotions provides valuable guidance for businesses looking to optimize their workforce strategies.
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Employee Experience
UKG | September 15, 2023
UKG ranks number 2 in the IT, Internet, Software, and Services category and 25th overall among 400 US companies.
Nearly half (46%) of UKG's global employee population are women, with 42% in leadership roles.
UKG sets ambitious representation goals for gender diversity by 2026.
UKG actively promotes gender equity through initiatives like FIRE Up and the UKG Close the Gap Initiative.
UKG, a provider of HR, payroll, and workforce management solutions, has been named one of America's Best Employers for Women by Forbes. It has been ranked number 2 in the IT, Internet, Software, and Services category and is at the 25th postion overall among some 400 US companies. The recognition follows their previous placement on Forbes' America's Best Employers for Diversity 2023 list and Newsweek's America's Greatest Workplaces for Women.
UKG's commitment to gender diversity is evident in their workforce, with 46% of employees identifying as women and 42% holding leadership positions. The company has outlined representation goals, aiming for 44% global gender leadership representation and 38% global gender representation of women in technology roles by 2026. Women at UKG are encouraged to participate in employee resource groups like FIRE Up, which fosters an inclusive and supportive community. The group offers career development workshops, guest speakers, networking, and philanthropic events.
Chief People Officer at UKG, Pat Wadors, mentioned,
When we made the announcement of the UKG Close the Gap Initiative, we set off to be the catalyst for a transformation in bringing pay equity to millions of women across the country.
[Source: BusinessWire]
He added that they want to inspire other companies to close the gender pay gap. UKG has launched the State of Belonging, Equity, and Impact at UKG website, featuring UKG Stories with Purpose. This interactive journey shares stories from employees and partners, highlighting the importance of equity and inclusion. The organization’s commitment extends beyond their walls through initiatives like the UKG Close the Gap Initiative, focused on pay equity. Additionally, UKG reportedly sponsored the 2023 UKG NWSL Challenge Cup, reaching pay parity with the US men's game.
Pat Wadors remarked that the vision of UKG involved a commitment not only rewarding for employees but also beneficial for tens of millions of workers, spanning from the frontlines to the front office, worldwide. She emphasized their aspiration to transform the way work is conducted and make a meaningful impact on people's lives.
Developed through a collaboration with Statista, the Forbes America’s Best Employers for Women 2023 compilation heavily relies on input gathered from over 40,000 female workers at various US companies. In assessing these workplaces, women provided ratings based on criteria including the workplace atmosphere, workforce diversity, salary equality, parental-leave policies, leadership development initiatives, and the presence of women in senior management roles.
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