Workday has announced a partnership with Compa, the market intelligence vendor whose information is used by leading compensation teams. Workday will enable users to access the Compa data within Workday to provide real-time information about compensation levels globally.
The real-time market intelligence data is far more accurate and up-to-date, rather than relying on traditional half-yearly surveys. The data will enable managers using Workday to make more informed decisions during the pay review and hiring process. It should help retain and recruit staff in the future.
Cristina Goldt, General Manager of Workforce and Pay, at Workday, said, “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. 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.”
Compa is not yet available through the Workday marketplace. However, Workday Human Capital Management (HCM) customers are expected to have it available in 2025. The integration will not cost additional money for joint customers.
There is already an integration between the two vendors. Compa Offers connects with Workday seamlessly via Report-as-a-Service (RaaS) using APIs developed by Intecrowd. The integration enables joint customers to build reports with the required fields and schedule automatic delivery to Compa. This new integration is likely to enable users to access Compa information from within Workday.
Benefits
Workday highlighted the following benefits for joint customers:
- 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.
Charlie Franklin, Co-Founder and Chief Executive Officer, Compa, “Companies need new ways to stay competitive in today’s tight market. Our partnership with Workday will help organizations make better, faster pay decisions based on more accurate data.”
Enterprise Times: What does this mean
Storm Ventures led the last funding of Compa in a $10 million series A funding round in January 2024. The latest integration will bring the organisations closer together and it will be interesting to see whether Workday Ventures participates in any future funding round.
Compa has other integrations to several ATS solutions including SmartRecruiters, Greenhouse, Lever and iCIMS. Will integrations with other HCM vendors follow?
Workday and Compa are hosting a webinar on Thursday, November 14th, at 11:00 am PST. Register for the webinar here if interested.
