What is Workforce Management?

Workforce Management (WFM) is a term used to define any technology or business solution designed to help organizations more effectively manage their processes for recruiting, hiring, training, scheduling, tracking, evaluating and compensating employees. WFM focuses on ensuring companies have the right people in the right job at the right cost on a continual basis. Common software systems which can comprise a complete WFM solution include Time and Attendance, Scheduling, Leave Management, Attendance Management, Performance Management and Employee and Manager Self-Service.

Effectively managing the workforce results in tangible benefits across the organization:

Human Resources – Reduces administrative costs and the risks associated with regulatory non-compliance (federal, state and local labor laws; Sarbanes-Oxley).

Labor – Reduces overall labor costs through the elimination of errors and employee malfeasance.

Operations – Improve productivity levels, on-time delivery and overall customer satisfaction.

Finance – Enable proactive resource allocation decisions through enterprise-wide analytics.

Sales – Increase sales through more effective matching of labor supply with customer demand.