The HR industry is undergoing a sea of change. Emphasis on employee experience has increased multi-fold. An increasing number of enterprises are now looking to leverage new-age concepts of cloud, mobility, and analytics to better engage their workforce and to make their HR processes more business driven. This has resulted in the rising prominence of unified, end-to-end, employee experience-driven SaaS platforms such as Workday, SuccessFactors, and Oracle HCM.

Workday’s differentiated capabilities, such as its intuitive employee-centric design and end-to-end capability, have helped it gain rapid popularity. The Workday services market, too, has enjoyed considerable success over the recent years.

In this research, we focus on the following dimensions:

• Workday and associated services
• Workday-based HR BPS market
• Service provider landscape for the Workday-based HR BPS market

CONTENT

• In the new-age SaaS platform space, Workday has emerged as one of the most preferred platforms. It has some distinct characteristics that make it particularly attractive for enterprises. Other major platforms, particularly SuccessFactors and, to a certain, extent Oracle HCM Cloud, are also experiencing considerable success
• The Workday services market, which primarily comprises Information Technology Services (ITS) and Business Process Services (BPS), has enjoyed stellar success and is expected to continue to grow at a considerable pace as compared to services on the traditional platforms
• The Workday-based HR BPS market is currently worth ~US$500 million and has experienced spectacular growth in the last couple of years. The rising adoption of Workday-based HR BPS is increasingly being driven by the need for enhanced employee experience, in addition to traditional drivers such as cost reduction and process efficiency
• North America dominates in terms of geographic adoption of Workday-based HR BPS. Europe and Asia Pacific are rapidly following suit. In terms of industries, Banking, Financial Services & Insurance (BFSI) and Healthcare & Life Sciences (HLS) are the biggest adopters of these services
• Processes such as payroll, benefits, employee data management, employee contact center, and system maintenance are the most outsourced, while Workday’s relatively new modules, such as recruitment and learning, are yet to gain high traction in the market
• Even in a Workday environment, enterprises expect providers to bring in add-on technologies, especially advanced analytics and Service Delivery Automation (SDA), on top of Workday
• The top three players – Alight Solutions, Accenture, and IBM – constitute about 65% of the Workday-based HR BPS market by value. In terms of number of active deals, OneSource Virtual emerged as the most dominant player

Membership(s)

Human Resources Outsourcing (HRO)