Workday and Compa Partner to Revolutionize Compensation with Real-Time Data

PRNewswire 4-Nov-2024 9:01 AM

Partnership Will Put Compa's Market Intelligence Data at the Fingertips of Workday Customers, Empowering Them to Make Competitive, Data-Driven Hiring Decisions and Foster Pay Equity

PLEASANTON and NEWPORT BEACH, Calif., Nov. 4, 2024 /PRNewswire/ -- Workday, Inc. (NASDAQ:WDAY), a leading provider of solutions to help organizations manage their people and money, and Compa, the leading provider of software-delivered market data, today announced a partnership to bring Compa's real-time market intelligence directly into Workday, helping companies make more informed pay decisions to attract and retain top talent.

Compa's market intelligence will replace yearly compensation surveys, which can quickly become outdated and inaccurate, making it difficult for companies to offer competitive compensation packages. This partnership will give joint customers access to Compa's real-time compensation data directly in the Workday platform, helping them make more informed, competitive job offers.

"In today's competitive labor market, attracting and retaining top talent is a critical challenge for companies, and access to real-time compensation data can be a game-changer," said Cristina Goldt, general manager of workforce and pay, Workday. "With this partnership, we're empowering Workday customers to make informed pay decisions that attract and retain top talent, giving them a strategic edge in the war for talent."

Through this partnership, organizations will be able to:

• Create talent-winning job offers. HR and hiring managers can see relevant market data – right in their flow of work – as they create job offers and review job changes. This not only enables them to write job offers that get the candidates they want, but it also reduces the time spent.
• Improve internal mobility strategies. Organizations can make sure their internal pay for promotions matches what they would offer new hires, helping them keep their employees engaged and motivated.
• Promote pay equity. Organizations can leverage current market data to fairly compensate their employees from day one.

"Companies need new ways to stay competitive in today's tight market," said Charlie Franklin, co-founder and chief executive officer, Compa. "Our partnership with Workday will help organizations make better, faster pay decisions based on more accurate data."

Availability
Compa's real-time market intelligence data integration is expected to be available to Workday Human Capital Management (HCM) customers in 2025. Through this partnership, joint customers can access this integration at no additional cost.

For more information:

• To learn more about the partnership, join leaders from Workday and Compa for a webinar taking place Thursday, November 14 at 11:00am PST. Register for the webinar here.

About Compa
Compa is the leading provider of software-delivered market data transforming how enterprise compensation teams access and utilize market data. Its software automates data participation from HCM, ATS, and Stock admin systems, eliminating manual submissions and providing up-to-date benchmarks for cash, stock, offer data, and skills-based compensation. With industry-leading privacy standards and precise Multisource Matching, Compa empowers compensation professionals to make strategic decisions confidently. Stay ahead of market trends and experience the future of compensation intelligence with Compa.

About Workday
Workday is a leading enterprise platform that helps organizations manage their most important assets – their people and money. The Workday platform is built with AI at the core to help customers elevate people, supercharge work, and move their business forever forward. Workday is used by more than 10,500 organizations around the world and across industries – from medium-sized businesses to more than 60% of the Fortune 500. For more information about Workday, visit workday.com.

Forward Looking Statements
This press release contains forward-looking statements including, among other things, statements regarding Workday's plans, beliefs, and expectations. These forward-looking statements are based only on currently available information and our current beliefs, expectations, and assumptions. Because forward-looking statements relate to the future, they are subject to inherent risks, uncertainties, assumptions, and changes in circumstances that are difficult to predict and many of which are outside of our control. If the risks materialize, assumptions prove incorrect, or we experience unexpected changes in circumstances, actual results could differ materially from the results implied by these forward-looking statements, and therefore you should not rely on any forward-looking statements. Risks include, but are not limited to, risks described in our filings with the Securities and Exchange Commission ("SEC"), including our most recent report on Form 10-Q or Form 10-K and other reports that we have filed and will file with the SEC from time to time, which could cause actual results to vary from expectations. Workday assumes no obligation to, and does not currently intend to, update any such forward-looking statements after the date of this release, except as required by law.

Any unreleased services, features, or functions referenced in this document, our website, or other press releases or public statements that are not currently available are subject to change at Workday's discretion and may not be delivered as planned or at all. Customers who purchase Workday services should make their purchase decisions based upon services, features, and functions that are currently available.

View original content to download multimedia:https://www.prnewswire.com/news-releases/workday-and-compa-partner-to-revolutionize-compensation-with-real-time-data-302295380.html

SOURCE Workday Inc.