Dayforce Leads the Future of Learning with New Dayforce Learning

Rhea-AI Summary

Dayforce, Inc. (NYSE: DAY; TSX: DAY) has launched a new Dayforce Learning experience to address the growing expectations of the modern workforce. This innovative platform combines the compliance support of a Learning Management System (LMS) with the engagement of a Learning Experience Platform (LXP). Key features include:

- AI-assisted course design for personalized learning paths
- Automated employee learning experience
- Extensive library of best-in-class content
- Career-centric learning embedded in the workflow
- Intuitive user experience for talent development at scale

The platform aims to bridge skills gaps, improve employee engagement, and foster career development while maintaining high standards of learning compliance. It's integrated within the single, mobile-first Dayforce platform, offering a comprehensive solution for organizations to drive effective outcomes and succeed in the new era of work.

Positive

• Launch of new Dayforce Learning experience, combining LMS and LXP capabilities
• AI-assisted course design for personalized learning paths
• Integration with existing Dayforce Talent capabilities
• Potential to reduce cost and time for LMS deployment
• Extensive third-party content library to address specific skills gaps

Negative

• None.

Insights

HR Technology Analyst

The launch of Dayforce Learning marks a significant advancement in the HR tech landscape. By combining LMS and LXP functionalities, Dayforce is addressing a critical gap in the market. The AI-assisted course design and personalized content recommendations are particularly noteworthy, as they align with the growing trend of AI integration in HR solutions.

From an investor perspective, this move positions Dayforce competitively in the $21.1 billion learning management system market, which is projected to grow at a CAGR of 14% through 2028. The integration within the existing Dayforce platform could drive increased adoption and potentially boost the company's revenue streams. However, the impact on stock performance will largely depend on market reception and successful implementation.

Corporate Learning Specialist

Dayforce Learning's launch is a game-changer in the corporate learning space. The platform's ability to create scalable talent development programs and automate the learning experience addresses two major pain points for HR departments. The integration of career-centric learning is particularly innovative, as it ties learning directly to career progression, potentially boosting employee engagement and retention.

The extensive third-party content library is a smart move, as it allows companies to supplement their in-house content without significant additional investment. This could be a major selling point for organizations looking to rapidly expand their learning offerings. However, the success of this feature will depend on the quality and relevance of the content provided.

Market Research Analyst

Dayforce's timing with this launch is strategic. With 90% of executives reporting skills gaps and 73% of workers relying on employers for skill development, there's a clear market demand. The integration of learning within the broader HCM platform could be a significant differentiator in a crowded market.

Investors should note that while this launch positions Dayforce well, the learning tech market is highly competitive. Success will hinge on effective marketing, seamless integration with existing Dayforce modules and the ability to demonstrate tangible ROI for clients. The potential for increased customer retention and upselling existing clients with this new offering could positively impact Dayforce's financial performance in the medium to long term.

Supercharged AI capabilities and an intuitive user experience modernize the learning experience for employees

MINNEAPOLIS and TORONTO, Aug. 20, 2024 (GLOBE NEWSWIRE) -- Dayforce, Inc. (NYSE: DAY; TSX: DAY), a global human capital management (HCM) leader that makes work life better, today announced the launch of a new Dayforce Learning experience. Transforming learning and development for the new era of work, Dayforce Learning helps address the growing expectations of the modern workforce who want to stay current, upskill, and achieve their career aspirations. Embedded within the single, mobile-first Dayforce platform, Dayforce Learning will help equip organizations with the learning and development tools necessary to drive effective outcomes and succeed.

In a recent survey, nine in ten executives said that their workforce lacks at least one skill type, such as specialized technical skills. In contrast, there’s a clear desire from workers to upskill and learn through proper training modules, with 73% of workers surveyed expressing that they are at least partially reliant on their employers for skill development.

To meet the ever-evolving needs of both employers and employees, organizations need to offer more advanced people development capabilities to better grow, engage, and enrich their people – all while propelling their business goals forward. Dayforce Learning now provides the robust compliance support of a Learning Management System (LMS) and the learner engagement of a Learning Experience Platform (LXP). Its comprehensive content library delivers the next evolution of learning alongside complementary Dayforce Talent capabilities, including onboarding, performance management, and Career Explorer.

Additionally, with Dayforce Learning, managers and administrators have a critical resource to:

• Create talent development programs at scale: Offers an intuitive user experience with features such as user management, enrollment management, reporting, and course creation capabilities.
  
• Build transformative learning paths and programs: Transforms learning paths and programs with smart, personalized AI-assisted course design that adapts to unique organizational needs.
  
• Automate the employee learning experience: Helps bridge skills gaps and connect development opportunities to key moments in the employee lifecycle – from new hires to seasoned executives. Leveraging AI, Dayforce Learning pairs learners with recommended content to help drive desired upskill or reskill outcomes.
  
• Reduce the cost and time to deploy a new LMS: Helps to improve operational efficiency without sacrificing compliance support since the solution is infused within the Dayforce platform.
  
• Deliver an extensive library of best-in-class content: Boosts existing in-house learning content with vetted third-party content to help address specific skills gaps and foster employees’ learning journeys.
  
• Provide career-centric learning: Helps improve employee engagement with learning and skill development and helps employees achieve career aspirations – all embedded directly within the flow of work.
  

“Learning and development programs are in high demand from employees, for all the right reasons. As career journeys progress, people want personalized learning opportunities that inspire, inform, and delight – and the new Dayforce Learning delivers this with an engaging and intelligent experience,” said Joe Korngiebel, Chief Product and Technology Officer, Dayforce. “With Dayforce Learning, we’re helping customers foster an engaged and productive workforce, maintain their high standards of learning compliance, and promote skills-based talent development within their organizations -- and we're doing it at scale.”

To learn more:

• Visit the Dayforce Learning page
• Learn more about the latest Dayforce capabilities
• Read about Dayforce’s acquisition of eloomi
• View the Session Catalog and register for Dayforce Discover

About Dayforce
Dayforce makes work life better. Everything we do as a global leader in HCM technology is focused on improving work for thousands of customers and millions of employees around the world. Our single, global people platform for HR, payroll, talent, workforce management, and benefits equips Dayforce customers to unlock their full workforce potential and operate with confidence. To learn how Dayforce helps create quantifiable value for organizations of all sizes and industries, visit dayforce.com.  

Forward-Looking Statement and Risk Factors
This press release contains forward-looking statements that involve a number of risks and uncertainties. Statements that are not historical facts, including statements regarding the impact of the availability of Dayforce Learning to organizations in the United States, and our expectations, hopes, intentions, or strategies regarding the future are forward-looking statements. Forward-looking statements are based on management's beliefs, as well as assumptions made by, and information currently available to, management. Because such statements are based on expectations as to the future and are not statements of fact, actual results may differ materially from those projected. These forward-looking statements are not guarantees of future performance and speak only as of the date hereof, and, except as required by law, we undertake no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.

This press release should be read in conjunction with the risks detailed in the “Cautionary Note Regarding Forward-Looking Information”, “Forward-Looking Statement”, “Risk Factors”, and other sections of Dayforce’s Quarterly Reports on Form 10-Q, Annual Reports on Form 10-K and other reports we file with the Securities and Exchange Commission. Copies of reports filed with the Securities and Exchange Commission are posted on our website and are available from us without charge.

Media Contact
Hyeri Kim
Hyeri.Kim@dayforce.com
347-572-9564

FAQ

What are the key features of the new Dayforce Learning platform?

The new Dayforce Learning platform features AI-assisted course design, automated employee learning experiences, an extensive content library, career-centric learning, and an intuitive user experience for talent development at scale. It combines LMS compliance support with LXP engagement capabilities.

How does Dayforce Learning address skills gaps in organizations?

Dayforce Learning addresses skills gaps by offering personalized AI-assisted course design, connecting development opportunities to key moments in the employee lifecycle, and providing a comprehensive content library that includes vetted third-party content to target specific skills needs.

What benefits does Dayforce Learning offer to employers and employees?

For employers, Dayforce Learning offers talent development at scale, improved operational efficiency, and compliance support. For employees, it provides personalized learning opportunities, career-centric development, and the ability to upskill and achieve career aspirations within the flow of work.

When was the new Dayforce Learning experience launched?

Dayforce, Inc. (NYSE: DAY) announced the launch of the new Dayforce Learning experience on August 20, 2024.