Company insight
readiness for analysis, permissions for access, systems consolidation, and data accuracy. HR teams can use this to deliver sustainable, proactive reporting and insight solutions, rather than scrambling to assemble data into a digestible format to deliver insights either just in time or late.
HR teams need data at their fingertips to answer critical operational questions, and build workforce plans that specifically address an organisation’s needs. Real-time access to data can, for example, shed light on changes in attrition risk and influence decisions that can help a business meet its hiring goals. With the right tools and access to real- time data, businesses can implement an efficient cycle of planning, execution, analysis and recalibration in skills development. This will ensure that they are constantly building the right capability internally, and that they are aware of talent gaps that will need to be filled in the future. With that model in place, HR teams can rapidly adjust to the changing needs of the company and the market, as they are able to constantly monitor the success of their skills development programmes and predict future needs.
With the right tools and access to real-time data, businesses can implement an efficient cycle of planning, execution, analysis and recalibration in skills development.
toolkit that can ensure a financial services organisation achieves its hiring and skills development needs. In particular, the Workday Skills Cloud is a platform that supports a cohesive data model, which processes vast amounts of data into consumable, actionable formats. Machine learning helps with the analysis of skills within an organisation, suggesting areas for development. Drawing together
“In any kind of talent market, there is one perennial challenge: more vacancies for skilled jobs than there are people with the skills to fill them.”
Delivering a comprehensive toolkit Once an organisation is able to leverage a robust platform for workforce planning and analytics, it can clearly define a plan to develop, recruit and retain the right talent. That platform will consist of a variety of software tools that work in concert to amass all relevant data from within the organisation – and gain meaningful insight from it. Such a platform is increasingly valuable, given that seven in ten employers around the globe already report difficulties hiring skilled workers in high-demand areas, including in operations and logistics, manufacturing and production. The same is true across functional areas such as IT and sales. Workday provides a comprehensive
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multiple systems – all talking to each other – is another key component. The breadth of Workday systems does just that, from Workday Human Capital Management (HCM) to Workday Recruiting and Workday Talent Marketplace. With the relevant data readily available, meanwhile, Workday’s core reporting and analytics toolkit enables HR teams to slice, dice and dig into data, while HCM core reporting comes with its own powerful reporting and analytics features, including discovery boards, and benchmarking. “Discovery boards have enabled us to expand our analytics talent pool beyond traditional Workday report writers,” explains an analyst in the HR systems and operations division of LPL Financial. “We can curate a list of fields available to
specific users, empowering them to seamlessly visualise and filter data in an interactive and user-friendly way, all inside of Workday.” As such, the Workday suite provides secure, self-service tools that allow users to report, analyse, and visualise any data that sits within Workday HCM, delivering the critical insights that support real-time solutions for key business challenges. Other Workday platforms offer more bespoke solutions. Users can, for example, call on Workday Prism Analytics, the platform that combines all Workday data with external data sources. Workday Prism Analytics, for its part, provides a unified view of an organisation’s workforce, while Workday Peakon Employee Voice continuously captures employee sentiment with intelligent listening. Ultimately, Workday has set out to provide a workforce optimisation solution that helps companies to unlock the value of their people, so that the corporate as a whole can not only respond to change, but actively thrive through increased agility. Organisations across the financial services spectrum therefore have an opportunity to implement a robust, skills- based approach to talent – and deploy the right people with the right skills to the right place at the right time. ●
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