Workday HCM Services 2023–2024 Market Insights™

November, 2023


Report Summary

This report identifies key demand-side trends in the Workday HCM services space, helping enterprises fine-tune their workforce strategies. It provides an overview of key trends and enterprise challenges that Avasant sees as important to be highlighted in the Workday HCM services space.

Why read this Market Insights?

Workday HCM holds paramount significance for organizations amid the dynamic landscape of evolving workforce needs and technological advancements. Businesses are replacing multiple HR solutions with an optimal solution to overcome challenges such as data visibility and process inefficiencies. The adoption of Workday HCM is helping them standardize HR processes, boost employee engagement, and improve system integration. Additionally, generative AI capabilities are aiding companies in creating personalized employee experiences and reducing human efforts.

The Workday HCM Services 2023–2024 Market Insights aids enterprises in identifying important market trends and challenges for any Workday HCM project they take part in.


The industry insights presented in this report are based on our ongoing interactions with enterprise CXOs and other key executives; targeted discussions with service providers, subject matter experts, and Avasant Fellows; analyst insights from primary and secondary research; and lessons learned from consulting engagements.

Table of contents

About the report (Page 3)

Executive summary (Pages 4–8)

    • Defining the Workday HCM suite
    • Key enterprise Workday HCM services trends shaping the market
    • Avasant recognizes 12 top-tier providers supporting the enterprise adoption of Workday HCM services

Demand-side trends (Pages 914)

    • Healthcare and financial services leading in HCM adoption
    • Key drivers enabling enterprise adoption of Workday HCM services
    • Top use cases being addressed in Workday HCM
    • Companies are transforming HR processes with generative AI
    • Key considerations while scouting for a unified people-management platform

Key contacts (Page 15)

Read the Research Byte based on this report.

Please refer to Avasant’s Workday HCM Services 2023–2024 RadarView™ for detailed insights on the service providers and supply-side trends.