Mission Statement, Vision, & Core Values (2024) of Ceridian HCM Holding Inc. (CDAY).

An Overview of Ceridian HCM Holding Inc. (CDAY)

General Summary of Ceridian HCM Holding Inc. (CDAY)

Ceridian HCM Holding Inc., now branded as Dayforce, is a global leader in human capital management (HCM) technology. Founded in 1992, the company has evolved significantly over the years, focusing on delivering comprehensive solutions for HR, payroll, talent management, and workforce management. Dayforce's flagship product is the Dayforce HCM platform, which integrates various HR functions into a single system.

As of 2024, Ceridian reported total sales of approximately $1.72 billion, reflecting a growth trajectory driven by increasing adoption of its cloud-based solutions and a growing customer base. The company serves over 6,393 customers globally, with approximately 6.84 million employees utilizing the Dayforce platform.

Company's Financial Performance in the Latest Financial Reports

In the fourth quarter of 2023, Ceridian reported total revenue of $399.7 million, an increase of 18.9% year-over-year. This growth was largely attributed to the Dayforce recurring revenue, which reached $292.1 million, up 30.1% compared to the previous year.

For the full year 2023, the company achieved total revenue of $1,513.7 million, representing a 21.5% increase from 2022. The Cloud annualized recurring revenue (ARR) was reported at $1,250.6 million, a 20.1% increase.

Key financial highlights include:

• Operating profit: $133.1 million (8.8% of total revenue)
• Net income: $54.8 million, compared to a net loss of $73.4 million in 2022
• Adjusted EBITDA: $410.2 million, up from $250.4 million in the previous year.

Additionally, the company maintained a strong annual Dayforce revenue retention rate of 97.1%.

Introduction to Ceridian as a Leader in the Industry

Ceridian, through its Dayforce platform, has established itself as a leader in the HCM industry, recognized for its innovative approach and comprehensive offerings. The company was named a Leader in the 2023 Gartner Magic Quadrant for Cloud HCM Suites for 1,000+ Employee Enterprises, marking its consistent performance in the market.

With a commitment to enhancing work life for its customers, Ceridian continues to expand its global footprint and innovate within the HCM space. The company's focus on customer satisfaction and operational excellence positions it well for future growth and industry leadership. For more detailed insights into Ceridian's strategies and market position, further exploration of their financial reports and industry recognitions is encouraged.

Mission Statement of Ceridian HCM Holding Inc. (CDAY)

Company's Mission Statement Overview

Ceridian HCM Holding Inc. (CDAY), now known as Dayforce, emphasizes its commitment to transforming the employee experience through its innovative human capital management solutions. The mission statement reflects the company's dedication to leveraging technology to enhance workforce productivity and engagement while ensuring compliance and operational efficiency. This mission serves as a guiding principle for the company's strategic initiatives and long-term objectives.

Core Component 1: Empowering Organizations

The first core component of Ceridian's mission is to empower organizations to manage their workforce more effectively. This is achieved through the Dayforce platform, which integrates various HR functions into a single solution. As of December 31, 2023, the platform supports 6.84 million global employees, a 15% increase compared to the previous year. The company reported that it had 6,393 customers live on the Dayforce platform, marking a year-over-year increase of 6.7%.

Core Component 2: Enhancing Employee Experience

Ceridian's mission also focuses on enhancing the employee experience. The company recognizes that a satisfied workforce leads to improved productivity and retention rates. Dayforce's solutions include tools for payroll, talent management, and workforce planning, which collectively contribute to a more engaged workforce. For the full year 2023, the annual Dayforce revenue retention rate was reported at 97.1%, underscoring the platform's effectiveness in retaining customers.

Core Component 3: Delivering Innovative Solutions

The third core component emphasizes the delivery of innovative solutions that meet the evolving needs of businesses. Ceridian has been recognized as a leader in the 2023 Gartner Magic Quadrant for Cloud HCM Suites for 1,000+ Employee Enterprises, reflecting its strong market position and commitment to innovation. In 2023, the company achieved a total revenue of $1.5137 billion, representing a year-over-year increase of 21.5%. Dayforce's recurring revenue reached $1.1111 billion, an increase of 36.3% from the previous year.

In summary, Ceridian's mission statement encapsulates its commitment to empowering organizations, enhancing employee experiences, and delivering innovative solutions that drive workforce productivity and engagement. This mission is supported by robust financial performance and a growing customer base, positioning the company for continued success in the HCM sector.

Vision Statement of Ceridian HCM Holding Inc. (CDAY)

Vision Statement Overview

Ceridian HCM Holding Inc. (CDAY), now known as Dayforce, positions itself as a leader in human capital management (HCM) technology. The vision statement emphasizes the commitment to improving work life by leveraging technology to enhance employee experiences and operational efficiency.

Empowering Organizations

The vision of Ceridian focuses on empowering organizations to unlock their full workforce potential. This involves providing a comprehensive platform for HR, payroll, talent management, and workforce management. As of 2024, Dayforce supports approximately 6.84 million global employees live on its platform, reflecting a year-over-year increase of 15.0% .

Innovative Technology Solutions

Dayforce's vision includes delivering innovative technology solutions that streamline HR processes. In 2023, the company reported a total revenue of $1.51 billion, marking a 21.5% increase compared to the previous year . The recurring revenue from the Dayforce platform reached $1.11 billion, representing a growth of 36.3% year-over-year .

Commitment to Customer Success

Central to Ceridian's vision is a strong commitment to customer success. The annual Dayforce revenue retention rate stands at 97.1%, consistent with the previous year, indicating high customer satisfaction and loyalty . The number of customers using the Dayforce platform increased to 6,393 as of December 31, 2023, a year-over-year increase of 6.7% .

Global Reach and Market Leadership

Ceridian's vision also encompasses global reach and market leadership. The company was recognized as a leader in the 2023 Gartner® Magic Quadrant™ for Cloud HCM Suites for 1,000+ Employee Enterprises, underscoring its ability to execute and completeness of vision . The company continues to invest in expanding its global footprint, aiming for a total revenue target of $1.72 to $1.73 billion for 2024 .

Financial Performance Summary

Future Aspirations

Looking ahead, Ceridian aims to maintain its growth trajectory while enhancing its product offerings. The company’s target for adjusted EBITDA in 2024 is between $480 million to $495 million, with margins expected between 27.9% to 28.6% . This growth strategy is backed by ongoing investments in technology and customer service improvements.

Core Values of Ceridian HCM Holding Inc. (CDAY)

Core Value 1: Customer Commitment

Customer Commitment is a fundamental core value at Ceridian HCM Holding Inc. (CDAY). It emphasizes the importance of actively listening to customer needs and delivering exceptional service.

In 2023, Ceridian demonstrated its commitment through a Dayforce platform that saw 6,393 customers live, reflecting a year-over-year increase of 6.7%. The annual Dayforce gross revenue retention rate was reported at 97.1%, indicating strong customer loyalty and satisfaction.

Core Value 2: Innovation

Innovation drives Ceridian's mission to provide cutting-edge HCM solutions. The company continually invests in technology to enhance its offerings and improve user experience.

In 2023, Dayforce achieved a remarkable 36.3% increase in recurring revenue, amounting to $1,111.1 million. The platform's recurring revenue per customer also rose by 20.9% to $146,771. Furthermore, Dayforce was recognized as a Leader in the 2023 Gartner® Magic Quadrant™ for Cloud HCM Suites for the fourth consecutive year, showcasing its ability to innovate and execute effectively.

Core Value 3: Integrity

Integrity is vital for building trust with clients and stakeholders. Ceridian prioritizes transparency and ethical practices throughout its operations.

In 2023, the company reported a net income of $54.8 million, a significant turnaround from a net loss of $73.4 million in the previous year. This improvement reflects Ceridian's commitment to ethical financial practices and operational integrity.

Core Value 4: Teamwork

Teamwork fosters collaboration among employees and partners, driving collective success. Ceridian's culture encourages teamwork to enhance productivity and innovation.

In 2023, Ceridian's total revenue reached $1,513.7 million, an increase of 21.5% year-over-year. The company attributes this growth to effective teamwork and collaboration across its departments.

Core Value 5: Accountability

Accountability ensures that Ceridian takes responsibility for its actions and performance. The company sets clear expectations and encourages personal ownership among its employees.

With an adjusted EBITDA of $410.2 million in 2023, Ceridian demonstrated its accountability in achieving financial targets and maintaining operational efficiency. The operating profit margin improved to 22.4%, reflecting a strong commitment to accountability at all levels.