Workforce management utilizes an integrated set of processes that a company uses to optimize the productivity of its staff. This involves effectively and efficiently managing labor requirements and creating and managing staff schedules to accomplish particular or unusual tasks on a regular basis.
Workforce Management (WFM) systems enable organizations to gain insights into business details such as the exact number of employees needed to complete a particular job as well as track employees’ daily performance.
Workforce Management Processes
A complete and reliable workforce management system encompasses a range of activities within the broader framework of human resource management, such as:
- Forecasting and Budgeting – Forecasting is knowing beforehand how many and the type of staff resources are needed for a particular project during a certain time of the year. Budgeting is knowing how many resources a company can afford to have on hand.
- Staff Scheduling – Scheduling is a significant part of WFM as it allows companies to simplify staffing based on all business variables, such as vacations, availability, workload, and absences.
- Time and Attendance – Using WFM tools and processes reveals attendance patterns and helps companies to better predict changes in demand and manage planned and unplanned staff absences and/or leaves.
- Performance Management – WFM gives businesses a better understanding of the work process and progress of employees so they can better focus on what drives employee productivity.
- Compliance – Compliance tracking includes the tracing of required certifications and training for specific roles, missed breaks, labor standards, family/sick leave requirements, and union agreements.
- Payroll and Benefits – WFM makes payroll processes and queries quicker and easier. It allows for payment options, such as shift or job payments, and syncing of timesheets to payroll.
- Leave Planning – WFM allows companies to track staffing levels and digitally handle time-off requests and approvals.
Benefits of Workforce Management
Workforce management can make a great difference for a business to be successful. Some of the potential benefits of using this system include better productivity, improved labor planning, lower operational cost, efficient time and attendance tracking, and better customer service. Besides those things, the benefits do not just stop there!
Other WFM benefits include:
- Improved payroll efficiency.
- Employers are given better insights, which allow them to give maximum performance.
- Reduction and optimization of the cost of labor.
- Instant-accessibility and simple reporting for workforce-related data that improves HR productivity and reduce administrative costs.
- Increased employee productivity.
- Lower non-compliance risks.
- Increased operational agility; companies can easily allocate people with the right skills at the right time.
- Improved employee morale due to transparency.
With the growing challenges and competition among organizations getting more and more intense, WFM has become a necessity. However, many organizations, particularly small companies, often do not value the need of a proper workforce management system and keep lingering on the obsolete and inefficient methods. Some only take care of core functions like attendance, time tracking. They often neglect the importance of a real and easy to use workforce management solution that can resolve many of their existing and future problems.
HealtheFirst specializes in workforce management systems and software for all kinds of businesses with customer support and cutting-edge innovation. Visit https://healthefirst.com/ for further information.