What is Intelligent HCM, and how does it create value?

The world of work is changing at a rapid pace. Global competition, technological advancements, low unemployment, and shifting workforce demographics are creating a perfect storm that demands innovation in the workplace.

Success in this complex world depends on the readiness of people to tackle the future head-on and push innovative ideas forward. For companies to create value in this new world, they need software and tools to make more intelligent business and people decisions.

Investing in technology like artificial intelligence, machine learning, and automation is just the start. New technology and practices don’t move the needle if the companies don’t use them strategically and therefore can’t derive real value from them.

Learn why Ceridian was recognized as a Leader in the 2020 Gartner Magic Quadrant

In a future of work driven by the collaboration between people and technology, HR must become the central intelligence system of the organization. Your people are your largest and most important investment – so how are you measuring the ROI on that investment, and helping ensure continued success in the future?

Your people strategy needs to be defined in the context of value and business outcomes, with the support of technology and tools that provide insight into how your people impact revenue, profitability, and productivity.

That, in a nutshell, is what we call “Intelligent HCM” – it’s deeply understanding and focusing on the areas that will drive the most quantifiable value to an organization.

As Dayforce continues to grow, Ceridian remains focused on Intelligent HCM, and providing customers with the data and insights they need to make better decisions.

We also continue to innovate, with products that will help our customers compete in a tight labor market and better serve their workforce.

Three upcoming product innovations highlight this:

Dayforce Intelligence

Now more than ever, HR executives are responsible for understanding how efficient and effective their team is, and where their teams can help unlock business value.

Dayforce Intelligence will enable organizations to benchmark key performance indicators against both the company’s past performance and against peers, and understand how those KPIs have been trending over time to help them make better business decisions.

Business leaders will be able to measure HR efficiency and effectiveness across the employee lifecycle, including recruiting, onboarding, payroll, and workforce management.

Dayforce Intelligence quantifies the value that can be created by incremental improvements and recommends where organizations can focus to maximize value creation.

Dayforce Wallet

A study from Ceridian and Hanover Research revealed that 80% of employees are stressed about their pay and finances. And it’s been commonly reported that 78% of Americans live paycheck to paycheck.

Another Ceridian study recently uncovered that 63% of employees aged 18 to 35 believe they should have access to their money as soon as they’ve earned it.

It’s facts like these that were the catalyst for one of our upcoming offerings – Dayforce Wallet.

Dayforce Wallet will allow employees to regain control of their financial freedom. Users can access their earned wages as soon as they’ve earned them, for example right after a work day or shift, rather than having to wait until their standard payday.

Dayforce Wallet is not a pay advance, but represents an employee’s actual earnings up to the time of the request. Dayforce Wallet will be able to collect regular pay and on-demand disbursements, and conveniently deposit them into an employees’ digital account. Employers will be able to maintain their day-to-day payroll processes or funding cycle with no added cost for the employer or employee.

Dayforce Hub

Dayforce Hub is a new user experience that allows customers to tailor Dayforce with their branding and content through configurable widgets and styles. The idea behind Dayforce Hub is to provide customers with an experience that will increase employee adoption, enabling them to maximize the value they get from Dayforce.

The world of work will continue to change at a breakneck speed. This requires a workforce with the skills and competencies that drive value not just today, but also tomorrow. Successful leaders will embrace technology that helps to elevate both their people and their business decisions.