The labor landscape has gone through rapid change in recent years. It seems like each year there’s a new and urgent labor challenge. What’s the top workforce management challenge in 2023 that Workday VNDLY is helping to address?
Santiago: One of the ways to empower the contingent workforce is having supportive managers, but managers also need support.
That’s why our team is working on simplifying the product experience for managers. A manager obviously needs to focus on how they manage their teams, and what can get in the way is a lack of visibility into whether their team is a mix of employees and contingent workers, or maybe they’re all contingent workers. A manager needs to see their team as one.
And that’s what we’ve been focusing on—taking that manager experience to the next level by simplifying it even more. For example, we’re bringing more contingent worker data points into the overall workforce data set in Workday HCM in a format that’s familiar to hiring managers. In addition, we continue to improve the connection between Workday HCM and Workday VNDLY by adding even more functionality that is enabling updates in both products to trigger an update or associated process in the other, greatly simplifying task management.
We also know different capabilities are needed to manage the nuances that come with different worker types. But with the focus on user experience and the refreshed Workday VNDLY user interface, our users don’t see an individual product. Our users go to the system to do what they need to do. And they could be crossing over many different products. So the first area of focus right now is on the manager.
You both have highlighted the value of a holistic view of the total workforce. Can you also speak to how Workday VNDLY helps companies support the differentiated needs of workers based on their classification or role?
Saxena: Industry nuances are driving differentiated requirements, such as some industries being forecasted to have a higher growth rate of contingent labor than others. For example, in the financial space, some reports suggest as high as 81% of organizations will enlist the services of contingent workers. If we look at the telecommunications space, where highly specialized skills are needed, we’re seeing those businesses come up against issues in accessing the right talent. I saw recently there has been a 170% increase in job posting within that industry between 2020 and 2022, and 67% of companies just can’t get the people they need with the specialized skills they’re looking for. This is a prime opportunity to fill that skills gap with external talent.
Workforce scheduling of contingent workers is another area that needs that differentiated support. Consider the typical staffing scenario in retail, an industry that has a lot of contract hires. Retailers deal with volume hiring in a lot of cases and need to account for seasonal peaks. This, in turn, results in complex, varying shift requirements across employees and any external workers needed to meet demand. Workday VNDLY can tap into the capabilities of Workday Scheduling once integrated with Workday HCM, or connect to other scheduling tools in place, enabling companies with flexible scheduling capabilities for all workers, including suppliers and vendors.
Santiago: Scheduling is an excellent example, exactly as Shashank explained. Also, think about scheduling in the context of a production line in a manufacturing scenario. For the manager who is allocating work and scheduling shifts, they’re thinking “OK, I need more people here, more people there.” They don’t care who is contingent, who is an employee. You need to get work done, right? As a manager or that supervisor, you don’t care about systems integrations or what is happening behind the scenes.
Workday VNDLY is powering the future of work. And by future of work, I’m referring to the nature of work right now—that it’s boundaryless, meaning a work model that quickly mobilizes organizations to adapt. An example of that is companies extending their worker ecosystems by relying more on their external workforce to fill critical skills gaps, achieve company goals, and scale the business. Can you speak to how Workday VNDLY enables organizations to adapt to a boundaryless nature of work?
Santiago: Organizations are no longer static. As an organization, you cannot achieve what you need if you are too rigid or static. If you have a dynamic organization, it’s like a living organism that’s moving and adjusting and doing what needs to be done to get to the goal. And that is driving the need to tap into every single worker in your company, not just employees. That’s orchestrating, where you’re identifying the skills and matching up the talent across workforce ecosystems with the needs of the business. The value of Workday VNDLY is that it truly enables dynamic organizations to approach talent as one workforce, working together.