Customer satisfaction is of utmost importance to us, and we believe the value customers get from their Workday investments is a foundational element of their satisfaction. Our Value Realization team spends its time understanding how customers use Workday and the value they derive from our products and services. Recently, the team shared with me the results of the 2017 Workday Value Index, a benchmarking and maturity assessment study.
The Workday Value Index is based on a survey of over 90 customers across 16 industries, with workforces ranging from fewer than 1,000 employees to more than 90,000. Customers were surveyed on six dimensions of maturity, and from those answers, the team identified the customers who are getting the most value from their Workday investments—the “high performers.” The survey results confirm what we believe is possible when customers optimize their use of Workday.
So what do high performers do differently? Here are four focus areas the team uncovered.
They have a laser focus on strategy. To thrive in today’s business environment, organizations must be agile, strategically aligned, and have a clear purpose and vision. High-performing customers have been able to shift from transactional work to focus on strategic initiatives. They get strategic buy-in from management and anticipate and prepare for change. Both their HR and Workday enablement teams spend 20 percent more time on strategic initiatives than other survey respondents.
They invest and innovate. Employees expect to have compelling digital experiences to help them do their jobs. In response, organizations must deliver experiences that engage and enable employees and managers. High performers plan and execute against a roadmap based on Workday features and functionality that drive business impact, and they seek to continuously improve. They utilize 16 percent more of Workday’s product offerings than other customers, and 61 percent of them deploy new Workday features and functionality at least once per quarter.
They leverage data to drive business outcomes. Analytics allow organizations to measure and understand precisely how people-related factors drive business results, and how financial goals drive people performance. High performers focus on getting the data right by establishing strong governance, and they empower users by putting data in their hands. They are utilizing Workday’s dashboards and reporting capabilities at a higher rate and create 2.7 times more reports per 1,000 employees. These customers are also 75 percent faster at creating reports than other customers, gaining timely insights into their businesses.
They enable managers to engage employees. A number of studies have proved that strong employee engagement positively impacts both revenue growth and profitability. Additionally, we know managers play a critical role in that engagement. High performers foster a culture where managers make their employees’ experiences a high priority. Managers are also able to focus on attracting, developing, and retaining the best talent, as evidenced by several key value metrics where high performers shine. Among high-performing customers, 23 percent have a greater internal fill rate for open positions, and 35 percent have lower employee turnover compared to other survey respondents.
We’re delighted to see so many of our customers transform their organizations with Workday, and believe they offer great inspiration for those who are still in the process of making these important shifts. Workday offers services and resources to support our customers in driving the most value from their Workday investments. Other customers are often great resources too, and the Workday Community (registration required) and our customer success managers can help form those connections.
In addition, our annual Workday Rising conference, taking place in Chicago October 9-12, provides many great opportunities to gain insights into what high-performing customers are doing differently. I look forward to seeing our customers and partners in a few short months in Chicago.