In this blog we will explain both Workday HCM & Workday Oracle and their key differences.
Finding the best HR software is crucial for every enterprise since it is connected with company growth & financial aspects. Connecting all aspects of HR in one software will nullify IT interference, and dependency on third-party applications. Analytics and reports can be taken easily if everything is connected in one place.
Technology giants are releasing updated software imbibing the latest updates in the digital world to go along with the latest technologies & innovations. Workday was made after the arrival of Oracle which replaced PeopleSoft. Oracle released on-premise HR software & gave tough competition to PeopleSoft initially. Workday was released by PeopleSoft CEO after resigning the post using cloud technology.
A cloud-based HCM called Workday nullified the value of on-premise HR software by Oracle. To meet the trend & compete with cloud-based Workday software, Oracle released HR software on the cloud. Let’s see the features of both Workday and Oracle’s cloud-based HR software in this blog.
Workday announced the general availability of an application called Human Capital Management (HCM) in 2006. HCM is developed on the cloud. It introduced the flexibility & increased accessibility of the application and gained a massive response for its innovations of software on the cloud. User-friendly interface, software on the cloud, quick updates twice a year, and tools for data analytics are highlights of Workday that make it stand alone among all the HR software at the time of release.
Oracle HCM Cloud is built on Oracle’s cloud database. It is powered by an AI-based digital assistant. To meet the current technology & competitors like Workday, Oracle released Oracle HCM on the cloud in 2011. Since it is connected with financial-oriented databases, it gains importance in terms of planning, and decision-making as part of a company. Three modules are there separately.
Talent, Recruiting, and Workforce tools as individual tools help organizations to analyze well. Comparing both Workday HCM & Oracle HCM is difficult to find the best of these two. Each one is empowered with powerful tools to help the company to function in a better way in almost all terms such as employees’ benefits, access to their details, planning tools, etc.
Talent Management tools:
Both Workday & Oracle provide talent management tools but in different ways. Workday comes with talent management tools specifically for measuring employees’ skills and the growth of an organization. It spreads the concept of Talent Management tools into different modules Payroll, Recruiting & Employee training. Oracle includes everything such as Recruitment, educating employees, and Compensation under one roof called Talent Management tools.
The prediction tools of Workday that function based on the total cost of the workforce from origin help leaders design predictive models to utilize human resources in a better way for the company's growth. It would be more useful in getting approvals in the budget for hiring projects & recruiting models on time using data visualization tools.
Data intelligence tools of Oracle predict possible reorganization needs but these tools can be utilized with little coding for HR people. It is not for data analysts. This prediction alerts HR executives to give inputs on new hiring needs & performance rates.
Compensation modules & performance management tools are connected with Recruiting tools in Workday. Connection with company financials through compensation strategy tools makes the process of budget approvals & onboarding new employees faster mode. Performance management tools track the skills of top performers & help recruiters give importance to such skills while hiring.
The recruiting tools in Oracle are fully dedicated to hiring purposes. It includes talent acquisition from career sites to draw all the potential applications based on skills & the whole data is divided into different categories based on needs. As it loads on the Oracle database, these data are available for search & analytics.
Workday provides learning modules as part of the software with a quiz to track employees’ learning process. Oracle has a separate module dedicatedly to learning purposes. The learning tool of Oracle is customizable also.
Implementation of both Workday & Oracle software is not as easy as installing any app. It needs certain consultation from experts. Implementation is tough & complex in both Workday & Oracle. Organizations have to hire a consultant for the same.
The Human Resource Management & Succession planning features of both Oracle & Workday are equally good.
Asset management, Payroll management, Onboarding, Leave & Absence management, and Recruiting features of Workday are much better than Oracle.
Performance & goals, Employer self-service, Performance management, and HR Reporting features of Oracle are comparatively better than Workday.
Choosing the right HR software for your company depends on your needs such as whether you want financials for Payroll management & Compensation or you want separate financial tools. Both are good in certain features. Workday is cost-effective & great in functionality as well. Workday serves all medium-sized organizations & meets the needs of large-scale businesses in an effective way.
Well-known companies such as Dell, Netflix, AirBus, etc., are using Workday for their workforce. Workday is built from scratch by understanding the requirements of an HR team, unlike Oracle which is a combination of multiple software. User-friendly & faster updates that adapt to the changing world’s new technology keep Workday popular among organizations.
Programs for talent management, space for employees to share feedback, analytics from various data, possible automation to reduce manual work, and benefits & compensation tools to provide rewards to employees of Workday are excellent features that every HR team must have in one place.