It reduces the administrative burden and provides better visibility in reporting on benefits
What is our primary use case?
Workday is an HR management or a talent management tool. It is basically the full suite of HR core processes. It has got modules within it for benefits for HR administration and talent acquisition.
Pros and Cons
"It helps the users to enroll for the benefits automatically and update their life events without the involvement of HR individuals or back-office staff. It enables a person to take action on their own. It reduces the administrative burden on HR and puts the ownership on the person that is going through the life event, whether it is having a child, taking a leave of absence, or something else.
There are easy ways to integrate Workday with your common benefits. At least in the USA, it can be integrated with common benefits providers such as Fidelity, Blue Cross Blue Shield, Aetna, etc. It has got a connector that is able to connect with the vendor or the third party to which you are trying to send the eligibility file. It basically allows us to automate or set up the tool, and the integration with the provider is a lot quicker than competing tools.
When it comes to reporting on just eligibility and SLSA, it is a lot more user-intuitive. Depending on the purpose of what you are doing, you can grant security rights or roles, for example, you can control whether someone is a benefits administrator doing an independent audit. Workday makes it very easy to do that. It significantly simplifies the reporting process."
"It is very unique as compared to other tools in terms of the employee master data and how it is organized. That's why sometimes the information needs to sit in two different systems because, in Workday, it is organized differently. This issue is not related to benefits. It is more or so related to how you categorize employees. I don't think this is a problem that could be solved. Workday is aware of this. It is one of those kinds of situations that you just got to live with."
What other advice do I have?
I would advise making sure that your HR data is clean. Take your time. Everybody is eager to implement a new shiny toy, but a lot of cleanups are required to get your house in order. You have got to clean up your HR data and make sure that there are no duplicate employees, people are assigned to the right job descriptions, and there are no such people who are terminated but still sit in your organization. When you actually migrate the data, all such issues will create a lot of problems. It is a leading talent management tool, and it has got the largest market share. I would rate Workday a ten…