How can organizations leverage analytics within Workday for benefits?

Organizations can leverage analytics within Workday for benefits by utilizing the analytical dashboard. This dashboard provides valuable insights and data visualizations that allow HR and benefits professionals to monitor key metrics related to employee benefits. By using these analytics, organizations can identify trends, measure the effectiveness of benefits offerings, and make data-driven decisions to enhance employee satisfaction and optimize benefits administration.

The analytical dashboard in Workday enables users to easily access and interpret complex data sets, which can include participation rates in various benefit programs, costs associated with benefits, and employee engagement levels. By analyzing these data points, organizations can pinpoint areas for improvement, tailor their benefits offerings to better meet employee needs, and allocate resources more effectively.

Other methods such as tracking attendance records, conducting manual reports, or requiring employee surveys may provide some information relevant to benefits, but they do not offer the comprehensive and real-time insights that an analytical dashboard can facilitate. These approaches may also be more labor-intensive or less timely compared to the automated and dynamic capabilities of an analytical dashboard.