As recession looms, Workday warns that legacy HR systems need updating
- Reference: 1669817907
- News link: https://www.theregister.co.uk/2022/11/30/workday_q3_2023/
- Source link:
The California-based SaaS biz talked up its services when last night rolling out results for its [1]Q3 of fiscal 2023 ended 31 October , with revenue up 20.5 percent year-on-year to $1.6 billion, including a 22 percent uplift in subscriptions to $1.43 billion.
The business reported an operating loss of $26.3 million versus an operating profit of $23.9 million in the year-ago period as costs soared by nearly $60 million to $259.4 million.
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Wins for the Human Capital Management area of the business included SGS and Texas Roadhouse, and go-lives ranged from the State of Oklahoma to Best Buy and the Canadian Tire Corporation. New logos for the Financial Management side of Workday included Cincinnati Children's Hospital Medical Center and Thomas Jefferson University.
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The company said its cloud finance and HR services are "mission critical."
Co-CEO Chano Fernandez, talking on a conference call with analysts, put his best foot forward to calm any concerns for what is to come in 2023 and beyond.
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He said: "Despite all the challenges that companies are facing today, they increasingly realize the present need to modernize their HR and financial systems. The executives that I speak with have different viewpoints on what the macroeconomic climate will look like in the year ahead but one thing they agree on is that change is constant and it's nearly impossible to navigate with legacy systems."
The tech industry, for example, is already going through some change management, with companies whose headcount ballooned during the pandemic to deal with rapidly rising demand for products and services now going through a correction.
[6]OpenStack thriving, survey says, but growth comes from a few big users
[7]Microsoft makes a game of Team building, with benefits
[8]War declared on bosses using 'omnipresent surveillance' tools to quash union efforts
[9]ServiceNow boss embarks on corporate trolling to get rise out of SAP
Many have paused hiring, including Cisco and more. Google is under [10]pressure to reduce the workforce , which [11]swelled by 51,000 individuals since the start of 2020 , Amazon is [12]laying off 10,000 workers , and [13]Meta is forcing out 11,000. Depending on the scale of the downturn and depth of any recession, businesses across multiple industries may follow suit.
Fernandez admitted that the "environment remains uncertain," which has led to "increased scrutiny and the lengthening of certain sales cycles, particularly with the new set of opportunities. While we aren't immune to these and see signs that it will persist into next year, we are confident in our diverse pipeline."
Workday, like other so-called "born in the cloud" vendors, has sold to line-of-business folk and CFOs. The company recently ran its Rising event in the US and Sweden. Nearly 16,000 people attended in-person and virtually.
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CEO Aneel Bhusri on the same conference call said its community is "growing and evolving" as "highlighted by the fact that this year's event has a large percentage of senior leaders, finance and IT attendees ever."
"One big takeaway from Rising is that our innovation story is resonating with customers as we evolve to be more open and connected. While we've traditionally targeted the offices of CHRO and CFO, we have placed increased focus recently on the office of the CIO, which presents another growth opportunity for us."
Given the positives listed by the big boss, presumably we won't be seeing any bloodletting from Workday in the near future. ®
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[1] https://investor.workday.com/2022-11-29-Workday-Announces-Fiscal-2023-Third-Quarter-Financial-Results
[2] https://pubads.g.doubleclick.net/gampad/jump?co=1&iu=/6978/reg_offprem/saas&sz=300x50%7C300x100%7C300x250%7C300x251%7C300x252%7C300x600%7C300x601&tile=2&c=2Y4eMMM63lIbjI6bHHYdregAAAAM&t=ct%3Dns%26unitnum%3D2%26raptor%3Dcondor%26pos%3Dtop%26test%3D0
[3] https://pubads.g.doubleclick.net/gampad/jump?co=1&iu=/6978/reg_offprem/saas&sz=300x50%7C300x100%7C300x250%7C300x251%7C300x252%7C300x600%7C300x601&tile=4&c=44Y4eMMM63lIbjI6bHHYdregAAAAM&t=ct%3Dns%26unitnum%3D4%26raptor%3Dfalcon%26pos%3Dmid%26test%3D0
[4] https://pubads.g.doubleclick.net/gampad/jump?co=1&iu=/6978/reg_offprem/saas&sz=300x50%7C300x100%7C300x250%7C300x251%7C300x252%7C300x600%7C300x601&tile=3&c=33Y4eMMM63lIbjI6bHHYdregAAAAM&t=ct%3Dns%26unitnum%3D3%26raptor%3Deagle%26pos%3Dmid%26test%3D0
[5] https://pubads.g.doubleclick.net/gampad/jump?co=1&iu=/6978/reg_offprem/saas&sz=300x50%7C300x100%7C300x250%7C300x251%7C300x252%7C300x600%7C300x601&tile=4&c=44Y4eMMM63lIbjI6bHHYdregAAAAM&t=ct%3Dns%26unitnum%3D4%26raptor%3Dfalcon%26pos%3Dmid%26test%3D0
[6] https://www.theregister.com/2022/11/18/openstack_thriving_survey/
[7] https://www.theregister.com/2022/11/17/microsoft_teams_games_solitaire/
[8] https://www.theregister.com/2022/11/01/employee_tracking_nlrb/
[9] https://www.theregister.com/2022/10/27/servicenow_q3_2022/
[10] https://www.theregister.com/2022/11/16/tci_fund_google_cut_costs_waymo_compensation/
[11] https://www.theregister.com/2022/10/26/google_reviewing_every_project_after/
[12] https://www.theregister.com/2022/11/14/amazon_job_cuts/
[13] https://www.theregister.com/2022/11/09/meta_redundancies_mark_zuckerberg/
[14] https://pubads.g.doubleclick.net/gampad/jump?co=1&iu=/6978/reg_offprem/saas&sz=300x50%7C300x100%7C300x250%7C300x251%7C300x252%7C300x600%7C300x601&tile=3&c=33Y4eMMM63lIbjI6bHHYdregAAAAM&t=ct%3Dns%26unitnum%3D3%26raptor%3Deagle%26pos%3Dmid%26test%3D0
[15] https://whitepapers.theregister.com/
Re: PAYE
I had 4 different employers last tax year and 2 of them had not ended the employment so the HMRC portal showed I had 3 active employments. I found the option to update the employment and say which ones had ended. It's not fully online, but a week later it had updated and then my actual current employer was allocated a proper tax code. All sorted by the next months payslip.
The navigation is still as confusing as ever, but the functionality is improving.
Workday is perfect for inHumane Resources
I work for a large multinational. Workday was brought in under the guise of how it would save big MONEY via centralized HR. So what do we have now? An HR support desk in a low-cost region of the world that provides bad directions when queried (since the rules vary by country, business unit, etc.). Traditional HR resources are now spread even thinner across the global business. AND more critically, you have your direct/middle managers doing all the work (in WD) that HR was supposed to do but doing it BADLY & INEFFICIENTLY! Why? Because instead of having an HR professional, who does a given HR activity all the time, you have a manager who performs that given HR task very, very infrequently and now has to figure out how to do it in a horribly unintuitive interface - multiplied across the entire global business.
I'm a mid-level manager and I can tell you that I'm often scratching my head on how we're supposed to do something in WD and/or to coach the managers below me on how they are supposed to do something. But hey - go ask the support desk, right? Except at least 1 in 3 times they direct you incorrectly and when you finally are able to talk to a traditional HR resource about the particular activity required, they helpfully suggest that you should reach out to the support desk if you're unsure how to do something. (I do take some small pleasure in telling such helpful HR resources - well, in fact I did ask them and followed their ultra-helpful instructions to arrive here in this steaming pile of carp that I'm now laying in front of you...
Plus - oh great and hallowed purveyors of Workday who believe they are our saviors - maybe do a little more research and spend a little more effort on your keyword search implementation... Seriously it's utter and complete rubbish. The results that come back are astoundingly bad. You should be embarrassed at how bollocks they are.
Re: Workday is perfect for inHumane Resources
I can't upvote this post enough. Fellow Workday sufferer here - it must be the single least intuitive piece of software that I have ever had the misfortune to deal with.
Re: Workday is perfect for inHumane Resources
These things like seem to be done on purpose to avoid responsibilities. Like when the worker has an issue with bullying, they get to call someone far away in Asia who has bad command of English and for the most part doesn't understand the problem due to cultural differences, but also not knowing the law and local customs. So poorly paid worker is facing a wall and unable to exercise their rights, while corporation likely will get a slap on the wrist if ever found to have done any wrongdoing.
Bringing a case to Employment Tribunal here in the UK is a substantial cost often out of reach for a typical worker, who can unlikely find £3k-10k on the back of the sofa to pay for solicitors when they may give slim chance of winning given the road blocks set by the company.
Truly awful state of affairs, but hey we voted those "globalists" in (actually you can't use that word anymore, it is no longer politically correct) and so we get to enjoy fruits of their work now.
In the face of reduced business spending, Workday recommends you spend money on them.. now is the perfect time!
PAYE
I wonder when HMRC is going to fix their systems.
When people change jobs often, their system don't always register that they move jobs and so the tax projection assume one has multiple fulltime jobs running concurrently eventually making them pay higher tax rates than they should. Then they have to spend hours on the helpline to get it sorted - that of course if they manage to get someone pick up the phone and then wait for the tax refund cheque
Truly 2022 Britain.