Despite continuous automation and new technological advancement in different industries, an employee still plays and will play an essential factor in deciding the success of the industry. Employee engagement has now become an operational thing, and it’s no more just a nice gesture. Recent research shows that organizations with a highly engaged workforce have seen a drastic improvement in their productivity leading to 22% higher than those who don’t.
Let’s understand the definition of workforce management & how companies are managing their workforce to stay ahead of the competition and today’s digital demands.
What is Workforce Management?
Workforce Management or simply WFM, is an integrated set of process which enhances the productivity of employees and business. WFM works under or encompasses a range of activities within the broader framework of HRM (Human Resource Management. Simply put, WFM is an institutional process which a company or a business uses to optimize the productivity of its employees, its business, and itself.
Why do we need a Workforce Management System?
There are numerous reasons why you need a Workforce Management, and the top right is operational efficiency. It is not just another software to install and chill, but rather, it is a whole set of things that can handle things online, from HR to scheduling, payroll registering, and staffing. Think about all the time lost in scheduling and time managing with your HR resources. With WFM system, all the significant operations of HR resources can be done quickly without any hassle and hustle! Here are some of the top reasons why you must have a WFM System.
- For Visibility and supervision of the employees
- For attendance and time management
- Time-saving in Human resource allocation
- To get complete data of a human resource
- Reduces operational costs
- Increases staff communications
Who are the Target Audiences?
- System Integrators and VAR’s
- Telecommunications Industry
- Freelance Websites
- Application Service Providers
- Cloud Platform Providers
- Research & Software Organization
- Small & Medium IT Companies
- Enterprise Users
Future of Workforce Management –
- Work the Way You Want –
Get the feel of personalized tech experience and work from anywhere and on any device. The idea is to deliver a customer-graded experience for the entire workforce so that they meet industry-specific requirements and at the same time, productivity is also maintained.
- Work Smarter –
Proactive insights, recommendations, real-time tracking abilities, are some of the smart features of workforce management. The way we work is changing, and with the workforce management, employees and managers can take better decisions helping the business to have better outcomes.
Summing Up –
It is expected that the workforce management market will grow from USD 4.49 billion in 2016 to USD 7.37 billion by 2021, at a Compound Annual Growth Rate (CAGR) of 10.4% during the forecast period. (Reference link – http://bit.ly/2Q6qH5H)
If you still managing your workforce manually, then this is the right time to switch to personalized yet effective workforce management for better employee productivity and better business outcomes.