Workforce management has been gaining immense momentum in recent years, owing to the impeccable efficiency it adds to the people working in an organization. It is nowadays implemented in each and every company across the globe as it significantly eases individuals’ day-to-day activities. Workforce management is an essential process that managers of an organization strategically undertake to enhance the productivity of all the employees, ensuring the distribution of all the resources optimally in the right place at the right time.
The workforce management system can perform a series of tasks including immense workload forecasting, tracking time, scheduling and planning, performance management, salary, and compliance management. In addition, it can also assist in the delivery of products and services, personnel recruitment, analyzation of productivity and satisfaction among employees, which is instrumental for the success of any organization. Thus, the main objective of workforce management is to make optimum use of the relevant number of people and workers, put them in an appropriate place at an appropriate time, and carry out suitable tasks. With the help of technology, procedures, and processes, an organization can effectively make much more informed decisions, manage the workforce effectually for ultimate performance, and substantially lower labor costs.
Numerous forward-looking leaders of organizations across the globe are increasingly devising workforce management software in management as a top priority. Hence, these leaders are incessantly engaging in learning the capabilities of the employees, apart from grasping consistent, innovative advancements that are prevalent across the profession.
There has been a significant surge in the adoption of workforce management solutions, especially among the manufacturing industries across the globe, owing to its ability to increase the productivity of the employee and assist in managing and retaining a hardworking, high-performing workforce. This factor is expected to drive the growth of the global workforce management software market during the forecast period.
In addition, the immaculate ability of workforce management solutions to accommodate the workforce needs of almost all industries is further expected to surge the growth of the workforce management market in the coming years. Additionally, the growing adoption of mobile-based workforce applications and cloud-based workforce management to fortify the remote working situation during unprecedented situations is further expected to increase the demand for workforce management in the coming years.
Moreover, the growing prevalence of e-commerce sites, emerging creative start-ups, an increasing number of incredible talents, and tremendous growth in the presence of service industries in Asia-Pacific are expected to create ample opportunities for the growth of the global workforce management software market in the upcoming years. According to the report published by Allied Market Research, the global workforce management software market is expected to reach $9,391 million by 2027, growing at a CAGR of 10.2% from 2020 to 2027. There are various processes involved in the workforce management system that plays an instrumental role in the success of any organization.
Processes Involved in Workforce Management
There are a number of processes involved in workforce management that significantly help in the growth of an organization. These processes are explained below:
Forcasting:
Forecasting is such process that gives an organization the ability to envision and estimate future requirements. Forecasting the workload in a call center helps to analyze potential requirements of the customer demand and suitably allocate employees accordingly.
Scheduling and planning:
Another important process involved in workforce management is scheduling and planning. The workforce management system efficiently helps to check the availability of staff and devise a suitable, well-balanced routine for the employees with the help pf innovative tools such as data analysis and timesheets. Thus, the workforce can appreciably minimize the average waiting time in various call centres, subsequently enhancing their overall productivity.
Performance management:
The workforce management system also favors performance management for the employees based on customer satisfaction, time on a call, redundancy, and others. It would also help any conventional call centre to effectively percept the needs and requirements of individual employees. In addition to that, performance management in the workforce management system determines the capabilities, strengths and weaknesses of the employees through their performance. This enables the managers to reduce the workload on employees according to their capabilities and performance, apart from providing help and attention where necessary.
Tracking time:
Tracking time is also an important process involved in workforce management. It significantly helps in supervising the attendance pattern of employees that can appreciably assist a call centre to manage problems concerning potential losses of employee coverage.
COVID-19 Impact on the Workforce Management
The outbreak of COVID-19 has had a positive impact on the growth of the global workforce management software market, owing to the prevalence of lockdowns in various countries across the globe. Lockdowns led to the closure of all call centres and office workplaces across the globe due to the stringent social distancing restrictions imposed by the government to curb the spread of the virus during the pandemic.
The COVID-19 pandemic has subsequently surged the demand for an agile workplace. Various companies across the globe are seeking to adopt an innovative solution that has a fine balance between seamless and high-performance technologies. Thus, the workforce management system came out as a befitting technology to corroborate day-to-day operations in numerous industries. It helped companies to reinforce remote technology capabilities, manage employee productivity, maintain business continuity, and evaluate the impact on global mobility. Thus, the demand for workforce management surged exponentially during the pandemic.
In addition, the rise in the number of workforce data sources and the prevalence of an immense volume of human resource (HR) data are expected to create ample opportunities for the growth of the market.
Furthermore, persistent technological advancements in workforce management software such as the implementation of AI-based workforce analytics solutions is further expected to create lucrative opportunities for the growth of the global workforce management software market in the upcoming years.
Author Bio
Shreeras Shetty is currently working in the content writing industry and has a Bachelor’s degree in management studies specializing in marketing. He is passionate about writing and is gaining significant experience in the Market Research Industry. Outside the office, Shreeras is actively engaged in recreational activities like playing football, trekking, traveling, and athletics.
