September 21, 2016 | Written by: Gary Hill
Categorized: Post Production Support
Congratulations! You’re live on Workday and all your hard work is paying off — things are going well. Your employees are engaged with and adopting the new system. Processes are running smoother than ever before, and you’re able to focus less on administrative tasks and more on strategy. Everyone in the Finance and Human Resources departments is happy and aligned.
But now it’s time to really show the value of the system. You’re on the hook — executives in the C-Suite want proof that it’s been worth the investment in time and money, and that the business is really better off now than it was before Workday.
Thankfully, no matter where you are in your Workday solution lifecycle, it’s never too early to start thinking about how you’ll demonstrate the value. There are multiple times when the opportunity presents itself and you can share how your team is contributing to the organization.
Whether you’ve been using Workday for three months, six months, a year or more, there are multiple ways to prove its ROI to the C-Suite. Essentially, it comes down to three aspects of your business: Employee Engagement, Operational Efficiency and Compliance Reporting.
Employee engagement is a critical metric these days, because it affects retention and hiring. Look at how your employees are engaging with the system: Are they getting everything they need from it quickly and easily? Are they using the Workday mobile apps to have the access at their fingertips? Is the time to complete tasks shorter now than ever before? With the constant stress for companies to retain their top talent, it may be a good idea to develop not just a document but material that drives conversation between employees and managers, or employees and the HR department.
Increasing employee engagement starts as early as the onboarding process. This is the first point of contact employees have with your organization (in an official capacity, anyway), and it’s a critical one. Workday can ensure they’re receiving welcome messages and have the essential resources they need to perform their job (like any wardrobe items in the correct size) on day one. Workday might also be the very first system a new employees engages with in their new job, so you want that experience to be positive.
The Merit Statement is an excellent opportunity for a company to add a personal touch — especially for those employees working remotely who may feel detached from the business. You can configure a custom statement to communicate with your employees and provide key data points to make it very personal to them.
In today’s increasingly competitive job market, it’s critical for HR to own the talent pipeline within their own organizations and to stay relevant with potential employees. In Workday’s Talent Insight analytics application, the Retention Risk Dashboard allows users to measure Key Metrics across the organization, including Risk Factors, Job Families with Higher Retention Risk, High Performers Hire Risk, All Employees at Risk.
Workday can also help you reevaluate your current operating procedures. Are you running your processes in a streamlined and productive order for HR, managers and employees? Is there a cohesive process for all parties to interact in a successful, practical manner? How long does it take to make a hire, and how much does it cost? It’s a great opportunity to reevaluate current HR processes and take advantage of best practices to drive important change across your organization.
All of this speaks to operational efficiency, something that can be improved by making the most of Workday functionality.
Finally, when reporting on performance, time tracking and other human capital metrics, it’s important to be mindful of compliance standards, and to ensure that they are being met within all organizational roles. Given that HR roles are highly regulated, mitigating risk should be a top priority within all organizations. If need be, are you prepared for security audits? Is your system configured for the Affordable Care Act (ACA)? These are important considerations for determining the success of your Workday implementation.
When proving the ROI of Workday, following best practices is key. By outlining your organizational goals and coordinating them with your Workday solutions, you and your HR team can anticipate a higher success rate — with many ROI data points to share with your C-Suite.
Want to learn more about getting the metrics you need from Workday? Download our guide, Proving ROI: What to focus on so you get the metrics you need from Workday.