Workday HCM - Study Guide
Workday HCM - Study Guide
1. Introduction to Workday
Workday is a cloud-based software vendor specializing in Human Capital Management (HCM) and Financial
Management. Founded in 2005 in Pleasanton, California, by former PeopleSoft executives Dave Duffield and Aneel
Bhusri, Workday is known for its user-friendly interface and rapid deployment capabilities.
Workday HCM - Study Guide
2. Core Features of Workday HCM
- Core HR
- Talent Management
- Payroll
- Absence & Time Tracking
- Performance & Succession Management
- Learning and Skills Development
- Workforce Analytics
Workday HCM - Study Guide
3. Absence Management
Workday Absence Management enables organizations to manage all types of employee leave. It includes request
workflows, approval tracking, accrual setup, and integration with payroll and compliance systems.
Workday HCM - Study Guide
4. Compensation
Workday supports diverse compensation plans including salary, hourly pay, merit increases, bonuses, and stock grants.
Eligibility rules and review cycles are configurable.
Workday HCM - Study Guide
5. Performance & Succession
The system allows continuous feedback, goal setting, and employee reviews. Succession planning tools help identify
high-potential employees and prepare future leaders.
Workday HCM - Study Guide
6. Payroll Management
Workday offers payroll processing with tax compliance, real-time calculations, and integration with financial systems. It
includes self-service access and global capabilities.
Workday HCM - Study Guide
7. Time & Attendance
Features include flexible time logging, rule-based calculations, manager approvals, and compliance reporting. Integrates
with absence and payroll modules.
Workday HCM - Study Guide
8. Learning & Skills
Workday Learning delivers personalized courses and tracks employee progress. Skills Cloud and reporting tools support
development and career growth.
Workday HCM - Study Guide
9. Analytics & Reporting
Real-time dashboards, predictive analytics, and benchmarking enable informed decisions across HR and finance.
Workday HCM - Study Guide
10. Conclusion
Workday is an integrated HCM and financial platform that enables automation, compliance, and strategic workforce
planning. Its modular structure and cloud-based architecture make it adaptable to organizations of various sizes.