Workday Named a Leader in 2022 Gartner® Magic Quadrant™ for Cloud HCM Suites for 1,000+ Employee Enterprises for Seventh Consecutive Year

Rhea-AI Summary

Workday, Inc. (NASDAQ: WDAY) announced its recognition as a Leader for the seventh consecutive year in the Gartner Magic Quadrant for Cloud HCM Suites for 1,000+ Employee Enterprises. Positioned highest for overall Ability to Execute, Workday's HCM solutions cater to over 4,500 global customers, including more than 50% of the Fortune 500. The company focuses on enhancing skills development and employee engagement through innovative tools, analytics, and a unified workforce strategy, aiming to support diverse worker types and improve talent retention amidst a challenging labor market.

Positive

• Named a Leader in the Gartner Magic Quadrant for Cloud HCM Suites for 1,000+ Employee Enterprises for the seventh consecutive year.
• Recognized for highest overall Ability to Execute.
• Over 4,500 global customers, including more than 50% of the Fortune 500, utilize Workday HCM.
• Introduced new skills technology enhancing employee engagement and skills insight.
• Comprehensive solutions developed to support various worker types post-VNDLY acquisition.

Negative

• None.

PLEASANTON, Calif., Nov. 4, 2022 /PRNewswire/ -- Workday, Inc. (NASDAQ: WDAY), a leader in enterprise cloud applications for finance and human resources, today announced it has been named a Leader in the Gartner Magic Quadrant for Cloud HCM Suites for 1,000+ Employee Enterprises*. Workday was recognized as a Leader for the seventh consecutive year and positioned the highest for overall Ability to Execute.

Organizations across the globe continue to face significant challenges in attracting, supporting, and retaining talent amid a tight labor market and evolving employee expectations. To deliver engaging and personalized employee experiences, organizations need a unified view of their workforce. More than 4,500 global customers – and more than 50% of the Fortune 500 – including Banner Health, Everise, Kohl's, Lloyd's Banking Group, McKee Foods, Nasdaq, Inc., Palm Beach State College, Tennis Australia, Thomson Reuters, and more are using Workday Human Capital Management (HCM) to automate HR processes, support and empower employees, and adapt to changing business and workforce needs.

With Workday HCM, customers can:

Elevate Experiences with New Innovations in Skills and Employee Engagement. 

• Organizations are prioritizing skills insight and development as the workforce becomes more agile. To support this and build on the success of Skills Cloud, which is included in Workday HCM and leverages machine learning (ML) to maintain skills data, Workday recently introduced new technology that allows organizations to easily and securely bring skills data in and out of Workday. In doing so, organizations can gain deeper insight into workforce skills to help deliver more personalized development recommendations and nurture career growth.
  
  In addition, to gain a holistic view of employee engagement across the business, global organizations are using Workday Peakon Employee Voice to give employees a confidential platform to share honest feedback about their experience, expectations, and health and well-being. Organizations can then use these insights to take meaningful, tangible actions that help to enhance the employee experience.
  
  
• Support Various Types of Workers with Unified Workforce Management Solutions.
  
  The shift in workforce composition is driving many organizations to develop a holistic workforce strategy that supports various worker types. Following the acquisition of VNDLY, Workday will provide organizations with a comprehensive solution that helps manage salaried, hourly, contingent, and outsourced workers.
  
  Workday also provides innovations to support frontline workers, managers, and operations leaders, including Workday Scheduling and Labor Optimization, a worker-first scheduling solution that leverages artificial intelligence (AI) to match labor demands with worker preferences. It is part of a unified workforce optimization offering that includes Absence Management, Payroll, Talent Management, and Time Tracking to help organizations more easily attract, engage, and retain talent all in one system.
  
  
• Leverage Reporting and Analytics Tools to Understand Workforce Trends. Organizations need deeper visibility into their workforce and real-time data to help them make faster decisions that support the business. Workday People Analytics uses AI and augmented analytics to help customers better understand the trends of their workforce, including DEI (diversity, equity, and inclusion) efforts, retention and attrition, hiring, skills, and performance – and the drivers behind them.

Comments on the News 
"Workday HCM in Rolls-Royce is much more than an HR system," said Marcus Millership, transformation director, global business services, Rolls-Royce. "It's a business tool to inform the business, to give insights, and manage some of our signature processes."

"We believe we are recognized because of our ability to adapt to the needs of our customers, enabling them to create and deliver experiences that meet the unique needs of their employees," said David Somers, group general manager, office of the chief human resource officer product, Workday. "Workday HCM provides customers with a comprehensive view of the critical workforce areas across their organization – skills, employee sentiment, talent performance, payroll, and more – to help support and adapt to changing worker expectations, while empowering them to grow and scale their business."

Additional Information

• Read the blog, "Workday Named as a Leader for 7th Consecutive Year in 2022 Gartner® Magic Quadrant™ for Cloud HCM Suites for 1,000+ Employee Enterprises," by David Somers, group general manager, office of the chief human resource officer product, Workday.
• Read a complimentary copy of the Gartner report on the Workday website.

*Gartner "Magic Quadrant for Cloud HCM Suites for 1,000+ Employee Enterprises," by Sam Grinter, Chris Pang, Jeff Freyermuth, Ron Hanscome, Helen Poitevin, Ranadip Chandra, John Kostoulas, Emi Chiba, Rania Stewart, October 21, 2022.

Gartner Disclaimer 
Gartner does not endorse any vendor, product or service depicted in our research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner's research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.

Gartner and Magic Quadrant are registered trademarks of Gartner, Inc. and/or its affiliates in the U.S. and internationally and are used herein with permission. All rights reserved.

About Workday 
Workday is a leading provider of enterprise cloud applications for finance and human resources, helping customers adapt and thrive in a changing world. Workday applications for financial management, human resources, planning, spend management, and analytics have been adopted by thousands of organizations around the world and across industries – from medium-sized businesses to more than 50% of the Fortune 500. For more information about Workday, visit workday.com.

© 2022 Workday, Inc. All rights reserved. Workday and the Workday logo are registered trademarks of Workday, Inc. All other brand and product names are trademarks or registered trademarks of their respective holders.

Forward-Looking Statements 
This press release contains forward-looking statements including, among other things, statements regarding Workday's plans, beliefs, and expectations. These forward-looking statements are based only on currently available information and our current beliefs, expectations, and assumptions. Because forward-looking statements relate to the future, they are subject to inherent risks, uncertainties, assumptions, and changes in circumstances that are difficult to predict and many of which are outside of our control. If the risks materialize, assumptions prove incorrect, or we experience unexpected changes in circumstances, actual results could differ materially from the results implied by these forward-looking statements, and therefore you should not rely on any forward-looking statements. Risks include, but are not limited to, risks described in our filings with the Securities and Exchange Commission ("SEC"), including our Form 10-Q for the fiscal quarter ended July 31, 2022, and our future reports that we may file with the SEC from time to time, which could cause actual results to vary from expectations. Workday assumes no obligation to, and does not currently intend to, update any such forward-looking statements after the date of this release.

Any unreleased services, features, or functions referenced in this document, our website, or other press releases or public statements that are not currently available are subject to change at Workday's discretion and may not be delivered as planned or at all. Customers who purchase Workday services should make their purchase decisions based upon services, features, and functions that are currently available.

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SOURCE Workday Inc.

FAQ

What did Workday announce on November 4, 2022?

Workday announced its recognition as a Leader in the 2022 Gartner Magic Quadrant for Cloud HCM Suites for 1,000+ Employee Enterprises.

How long has Workday been recognized as a leader in the Gartner Magic Quadrant?

Workday has been recognized as a Leader for seven consecutive years.

What key features does Workday HCM provide its customers?

Workday HCM offers skills development tools, employee engagement analytics, and unified workforce management solutions.

Which notable companies are using Workday HCM?

Notable customers include Banner Health, Kohl's, Nasdaq, and Thomson Reuters.

What is the significance of Workday's position in the Gartner Magic Quadrant?

Workday is positioned highest for overall Ability to Execute, indicating its strong performance and capabilities in the HCM market.