Workday Review 2024 – Pricing, Features, Pros & Cons

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Our Verdict

Robust HCM that gives actionable insights

Our Workday review delves into the platform’s features and compares them to other leading HR tools on the market.

At its core, Workday is a robust HCM (Human Capital Management) platform that streamlines every aspect of HR functions. Whether it’s about boosting performance and job satisfaction or making data-driven decisions to maximize business outcomes, Workday has the right tools.

That said, we do have to emphasize the cost of the platform. Depending on what features and functionalities you need, Workday will run you anywhere from $50 to well over $100 per month per employee, with additional implementation and training costs too.

Overall, it’s a truly solid all-in-one HR platform for large enterprises, provided you’re willing to switch from separate current HCM, HRIS, payroll, employee benefits, and time-tracking software to a platform that combines all these functionalities.

Pros

  • Includes a huge range of features and functionality options
  • Excellent talent acquisition solutions
  • Provides a wealth of data on your company and team members
  • Highly customizable to tailor to your specific needs
  • Great integration capabilities and an API framework

Cons

  • Steep learning curve
  • Error messages can be confusing
  • Not always affordable for small businesses

Workday Pricing & Plans

While we aim to be as transparent as possible in our Workday review, we found that the company doesn’t publicly display the pricing of its human resource management platform. Instead, potential customers are prompted to fill out a form on its website detailing their role and area of interest.

A Workday sales representative will then contact you via email to discuss your needs and custom quote. They may also set up a video meeting to further explain what Workday can achieve or show you a demo.

To work out how much Workday costs, we did some digging and found that Workday can cost $50 to $100 per month per user. This price can increase further if you opt for more advanced functionalities. Another thing to keep in mind – which we don’t often see with the best HR software platforms – is that you’ll have to pay an implementation cost as well.

The cost is quite high, at around 120-150% of the annual cost of the software. Additionally, given the complexity of the platform, you might need to invest further in training materials such as instruction videos or webinars.

It’s hard to give a specific answer in terms of how good the pricing structure is because it truly depends on the size and nature of your business. That said, we do like the fact that it is very bespoke rather than trying to lump companies into categories or tiers.

Workday Overview

Starting price Quote-based (possibly starting around $50 per user per month)
Best for Large enterprises looking for an all-in-one solution to digitize and streamline every aspect of their HR
Customer support Workday Community, phone, and email support
App integrations Slack, ADP, Salesforce, Oracle SAP, Workday API
Security & Compliance Secure data centers, firewalls, SSDLC, AES-256 encryption, third-party audits, HIPAA compliance
Payroll
Reporting & analytics
Mobile app
Benefits administration
E-signatures
Auto-alerts and reminders

Workday Key Features

While Workday lacks transparent pricing, there are plenty of other benefits. We found Workday to be one of the most user-friendly, feature-rich HR platforms on the market.

It uses AI to help businesses of all sizes streamline HR, financial, and industry operations, make data-driven decisions, and empower their employees.

The core HR functionalities of the Workday HR include:

  • Talent Acquisition
  • Human Resource/Capital Management
  • Employee Voice and Experience
  • Local and global payroll
  • Analytics and Reporting

Talent Acquisition

Workday HR interface

The talent management module of Workday helps you build and retain a team using a variety of advanced features. It relies on AI and machine learning to help with job recommendations and ads, meaning you can quickly identify the right people.

To help with talent acquisition, the platform also:

  • Facilitates collaboration between HR leaders and hiring managers
  • Supports Slack and Teams integration for easier communication and feedback sharing
  • Helps you outline and efficiently complete recruiting tasks

We found the integration with Microsoft Teams to be great as it allows your talent management team to collaborate with other hiring managers easily, making Workday very user-friendly.

You can also automate workflows with ease within the talent management feature, and schedule messages to candidates while keeping personal details and other security aspects safe.

Human Resource/Capital Management

Human capital management on Workday

Although two separate modules, which might alter your bespoke pricing quote if you do need both, Workday offers HRM and HCM features. We were impressed with the variety and the key features available are:

  • Employee feedback
  • Compensation and benefits
  • Schedule optimization
  • In-depth analytics
  • Learning management (professional development).

You’ll also have quick and easy access to all relevant data on your employees. By using the Workday HCM employee self-service function, every person on the team will have a profile with personal information, core skills, suggested skills they can learn, and additional information.

This sort of feature lets you stay in touch with your employees, understand their career development paths, and leverage their unique skills to maximize business results.

The self-service portal is one of the most straightforward employee portals we’ve tested. When used in a browser, it works great, and the app offers the same key features you’d expect.

Employee Voice and Experience

Employee experience on Workday

With the Employee Voice functionality, you’ll be able to gather anonymous feedback from your team to truly listen and understand their concerns, needs, and thoughts. This will help you boost performance as well as increase retention.

The platform also helps you empower leaders at every level by providing them with tools, action plans, and training needed to step into new roles. Workday also has feedback features enabling you to take a proactive approach when it comes to your team’s health, so you can adapt your initiatives to reflect their changing needs.

This feature comes in handy for all businesses, but especially growing small companies as it will help with retention during a very important life stage of the business. Keep in mind that feedback only works if business leaders respond to it well and with action.

Local and Global Payroll

Payroll features on Workday

Workday Payroll is an efficient system ensuring that everyone is paid the correct amount, on time, while complying with relevant laws and regulations. Not every HR software platform offers this, so we were impressed to see such a solid functionality. It’s a robust feature that offers:

  • Continuous payroll processing
  • Real-time access to the general ledger
  • Complete transparency and on-demand audits
  • Built-in reporting and analytics

The ability to manage teams working globally is a big benefit for any company, also having support with payroll compliance is excellent for small businesses wanting to expand and large businesses that are already global.

Analytics and Reporting

Workday Review

Workday is one of the most comprehensive HR tools when it comes to getting valuable insights into the performance of your business and team. The reporting functionality includes:

  • Fully customizable reports with dozens of filters
  • Color-coded charts and graphs
  • Timelines
  • Heatmaps
  • In-line context
  • Competitive benchmarking

While we did find these features very impressive, it’s important to understand that Workday requires a certain level of technical knowledge to use to its full potential. You might need to take some time to train employees.

Workday Integrations

Workday integrations

Workday natively integrates with over 600 HR, finance, project management, collaboration, and other business tools/apps. What we really liked is how users can browse through Workday’s marketplace to quickly see whether it supports native integrations with the apps in your software stack.

Additionally, with access to the Workday API framework, you’ll be able to connect virtually any app you’re using to the platform.

Workday Customer Reviews

As well as our own Workday review, we took a lot at third-party customer ratings and reviews. We found these quite positive, with the platform averaging around 4 out of 5 stars on popular review sites. We found that users mainly favored the:

  • User-friendly software and sleek UI
  • Number of features and functionalities
  • Flexibility of the platform
  • Reporting capabilities

As for the drawbacks, users most notably listed the complexity of some features of the platform, difficulties with submitting expenses and generating expense reports, and the cost.

What Is Workday Good For?

Workday is an excellent choice if you’re looking for a complex, all-in-one platform to handle every aspect of finance, HR, and workforce planning. Workday is mainly good for the following key features and functionalities:

  • Acts as a central data repository for all relevant business information
  • Comes with a built-in ATS
  • Helps you run payroll and distribute employee benefits
  • Provides a wealth of valuable business data

With that in mind, it’s the best option for large enterprises that are looking for an all-in-one solution. We think it’s perfect for a big organization considering switching from current HCM or HRIS software to something a bit more robust.

The main reason why Workday isn’t as suitable for startups and SMBs, apart from the overwhelming number of features, is the cost. While the price is quote-based and heavily dependent on what features and functionalities you need, you also have to pay a hefty upfront price for implementation.

Workday Alternatives

Provider Best for Starting Price Payroll Benefits Admin Reporting/Analytics Mobile App
Workday Large enterprises looking for an all-in-one solution to digitize and streamline HR, finance, and recruitment Quote-based Fully customizable reports
ClearCompany Talent acquisition, employee engagement, and performance management Quote-based Pre-built and customizable reports
Deel Hiring an international team and providing visa support and relocation Free with limited features Global payroll reports, Standard HR reports
Rippling SMBs looking to streamline every aspect of their HR $8/month per employee Pre-built and custom workforce and compliance reports

Workday vs. ClearCompany

Unlike the wide usage of Workday, ClearCompany is predominantly geared toward hiring, employee onboarding, and talent maximization. It’s a better option if you’re looking for a recruitment platform with built-in performance management capabilities, but it lacks other workplace features like payroll services and benefits.

Workday, on the other hand, offers all the HR features and functionalities you need, but it’s a much more costly investment. Compared to ClearCompany, the platform also takes a lot more getting used to.

Learn more in our ClearCompany review.

Workday vs. Deel

Deel’s strong suits are hiring and employee management, with an emphasis on a global workforce. The vendor offers EOR (Employer of Record) services, allowing you to hire contractors, part-timers, and FTEs (full-time employees) from all over the world. It also covers global payroll, equipment provisioning, and employee engagement.

Although Workday does have a recruitment module, you’ll still be responsible for handling the paperwork and ensuring payroll compliance with local employment laws for overseas hires. That said, we find Workday more robust, with features and functionalities that Deel lacks. Namely financial planning and management, human capital management, and workforce planning.

Learn more in our Deel review.

Workday vs. Rippling

These two platforms are quite similar in terms of their capabilities. The major difference, however, is that Rippling caters more to SMBs, whereas Workday is better suited for large enterprises.

With Rippling, you get a comprehensive HR system that can help with recruiting, attendance, global payroll, benefits, performance management, and employee engagement. On the other hand, Workday offers all these functions and more – it’s a lot more complex and considerably more expensive.

Its extra features include vendor management, professional services automation, and supply chain management. Ultimately, the choice depends on the size of your business, your industry, and your unique business needs.

Learn more in our Rippling review.

Verdict – Is Workday Worth It?

Workday can be well worth it for large companies, whether still growing or already at capacity. Its main benefits include being able to:

  • Centralize business and employee data
  • Streamline recruiting and performance management
  • Optimize human resource and capital management
  • Leverage in-depth analytics to make accurate predictions and data-driven decisions

However, the custom quote can be pricey so make sure to check your budget before going ahead.

How We Test HR Software

When we review and compare the leading human resources software on the market, we consider:

  • Ease of use – How difficult and time-consuming is it to implement the platform? We analyze how easy it is to learn and if it’s user-friendly in day-to-day business operations.
  • Features – What features and functionalities does the platform offer, and how can it benefit businesses of different sizes and niches? Does it offer an employee self-service platform or benefits management?
  • Pricing – We check different pricing plans to determine value for money, plus the ability to customize the platform by picking which functionalities you need.
  • Automations – The number of automations and their level of customization – the platform should be dynamic enough to cater to different business sizes.
  • Integrations – We look at native integrations with different apps and tools. We also check whether the platform offers an API framework.

How To Choose the Best HR Software

Whether or not Workday is the right fit for your business, you need to consider the following factors when choosing human resources software:

Type of HR softwareValue for moneyEase of useUser reviewsIntegrationsCustomer support

Type of HR software — Do you need an all-in-one platform with dozens of functionalities, like Workday? Or would you benefit from a tool that handles a specific HR function, like recruiting, payroll services, or performance management? Remember it also depends on your business size.

Value for money — How much value for money does the platform provide in comparison with similar tools? Does it align with your budget?

Ease of use — How long would it take to implement the platform? What level of technical knowledge does it require to use, and will you need training sessions to ensure your team can properly use it in day-to-day work?

User reviews — What do third-party users highlight as the main advantages and disadvantages of the platform, and how will those impact your business?

Integrations — Which tools and apps does the platform natively integrate with? Does it offer an API, and how difficult would it be to connect it with your existing software stack?

Customer support — What ways are there to contact customer support, what are their working hours, and will you get a dedicated customer support rep to your account?

Workday Review FAQs

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Aleksandar Stevanovic
Software Reviews Expert
Aleksandar Stevanovic
Software Reviews Expert

Aleksandar Stevanovic spent 10 years honing his craft as a freelance content writer. He has a degree in Economics, and extensive experience in software, crypto, and cybersecurity industries. He covers a multitude of topics, writing factual and informative articles, helping individuals better understand the intricacies of the online world. Over the last two years, his research focus shifted more towards tech and software content, as evidenced by his publications on CEX.IO, Business2Community, and Techopedia. He believes in simplifying complex topics and bringing them closer to like-minded individuals. His work is as detail-oriented as it is creative, and is designed to…