From a nice-to-have to the new normal, how WFM solutions can benefit your business
While workforce management (WFM) and employee experience initiatives may have been nice-to-have options a few years ago, they are now at the forefront of people management, according to a report by The Access Group.
The report added that digital WFM solutions have become the new normal to support employee engagement and business growth.
“In the current human capital-poor market, employee experience has become a competitive advantage, accelerating the adoption of WFM solutions to cope with the aggressively changing work environment and employee engagement,” the report said. “Today, every company is evaluating ways to simplify people procedures, manage costs, compliance, and employee experience.”
WFM can reduce a company’s expenses and create more efficient processes, the report said. It added that the most successful impact happens “digital workforce management transformation is a collaborative effort between employers and employees”.
But what are the major benefits of implementing a WFM solution?
Three key advantages
The Access Group’s report, A guide to workforce management for your business, identifies three major advantages of having a WFM solution. The first benefit is that it provides value to the business through varies factors such as simplifying compliance, reducing overtime costs and improving employee satisfaction.
“Automating rostering, timesheets, approvals, and reporting streamlines the administratively heavy people management aspect of operations and frees up time for KPI-driven decision-making,” the report said.
The second advantage is that workforce management (WFM) solutions can support futureproofing. For employers, it is important that the WFM solution is flexible enough to grow with the business into the future.
“A WFM solution that automatically enforces rule changes is important due to the frequency of ever-changing compliance regulations,” the report said.
The third benefit is that employers can use the data from WFM solutions to grow and manage their workforce.
“Your WFM solution should deliver data that is easy to understand, act on, store, and aggregate,” the report said. “With your data in a visual format, you should be able to easily adjust and amend as needed for your operational needs - saving you time and money.”
Read The Access Group’s full report: A guide to workforce management for your business.
