As federal government contractors (GovCon) grow and evolve, their back-office requirements become more complex and demanding. Workday’s Human Capital Management (HCM) Suite, when offered as a managed service by CrossVue, provides a scalable, efficient, and cost-effective solution to these challenges. This paper outlines the benefits of adopting Workday HCM and why leveraging CrossVue’s managed service accelerates deployment, reduces costs, and positions GovCon companies for growth. We also identify key moments when GovCon firms should consider transitioning to Workday HCM.
The Benefits of Moving to Workday HCM
The Benefits of Moving to Workday HCM
Workday HCM offers GovCon firms a modern, cloud-based solution that addresses complex workforce management needs with integrated functionality, real-time data, and enhanced compliance capabilities. The specific benefits include:
- Scalability and Flexibility: Workday HCM is designed to grow with businesses, offering the flexibility to manage a larger workforce, multiple locations, and diverse employment arrangements common in GovCon environments.
- Improved Compliance: With federal contracts demanding strict compliance, Workday’s HCM Suite provides robust features for managing workforce data, adhering to federal reporting standards, and ensuring audit readiness.
- Real-time Data and Insights: GovCon companies benefit from improved decision-making through Workday’s comprehensive dashboards, analytics, and reporting tools. This visibility is essential for managing talent, understanding personnel costs, and forecasting resource needs.
- Enhanced Employee Experience: Workday HCM simplifies HR processes and delivers an improved user experience for employees, facilitating smoother onboarding, self-service capabilities, and streamlined interactions, thus increasing employee satisfaction and retention.
Benefits of Leveraging CrossVue’s Managed Service
CrossVue’s managed service offering is designed to help GovCon firms implement and maintain Workday HCM faster, with reduced upfront costs and ongoing support tailored to the federal contracting landscape. The benefits include:
- Rapid Deployment and Reduced Costs: With pre-configured solutions that align with GovCon requirements, CrossVue can quickly launch Workday HCM, reducing implementation timelines and minimizing disruption. The managed service model spreads costs over time, making it more budget-friendly compared to traditional implementations.
- Dedicated Expertise in GovCon: CrossVue brings deep knowledge of GovCon requirements, such as compliance with FAR (Federal Acquisition Regulation), the Service Contract Act, and other unique reporting standards. This ensures a tailored approach that addresses specific needs and risks associated with the sector.
- Operational Efficiency: By outsourcing Workday HCM management to CrossVue, GovCon firms can shift focus from administrative HR tasks to strategic initiatives, enabling HR teams to concentrate on talent acquisition, retention, and development.
- Ongoing Optimization: CrossVue’s managed service includes continuous monitoring, optimization, and updates to ensure that Workday HCM remains aligned with the latest regulatory requirements and business needs, helping clients maintain compliance and operational excellence.
When Should GovCon Firms Consider Moving to Workday HCM?
CrossVue identifies several strategic triggers when GovCon firms should consider transitioning to a managed service model with Workday HCM:
- Transition from Small Business to “Other than Small” Business: The move from small to midsize or large enterprise status necessitates more robust HR systems that can scale quickly while maintaining compliance with increased reporting requirements.
- Integrating or Merging a Recently Acquired Company: Mergers and acquisitions bring unique HR challenges, including integrating systems, aligning compliance efforts, and unifying workforce management practices. Workday HCM’s centralized data management and analytics simplify this transition.
- Private Equity Investment and Growth Maturity: Companies with private equity funding need to rapidly mature their back office for growth and acquisitions. Workday HCM facilitates this by offering a unified platform that streamlines operations and supports scalability.
- Winning or Expecting to Win a Major Contract: Significant contract wins often lead to rapid personnel growth. Workday HCM’s agility and scalability make it ideal for managing surges in workforce requirements while maintaining compliance and efficiency.
- Reducing Back-Office Inefficiencies: Firms facing high administrative costs, excessive headcount dedicated to manual HR processes, or outdated legacy systems may find that the cost savings from modernizing to Workday HCM can effectively offset implementation costs. This transition can create a net-positive impact on the budget.
Conclusion
Workday HCM, implemented and managed by CrossVue, presents a compelling solution for federal government contractors seeking to streamline operations, ensure compliance, and enable growth. By adopting this managed service, GovCon firms can focus on strategic priorities, reduce costs, and prepare for the complexities of future growth and compliance requirements. CrossVue’s experience and tailored approach make us the ideal partner for your Workday HCM transformation.
For more information, visit our Government Contracting page.
