Workforce Management (WFM): 5 benefits of betting on your workforce
It is well known that unity is strength and, in the business world, this premise is no exception. From this observation seems to have been born Workforce Management, a set of practices and processes contemplated within labor management that are implemented with the objective of maximizing the performance of workers. This, moreover, leads to ensuring the company's competitiveness .
The way a company manages its workforce, beyond its business idea and the products or services it offers, is a determining factor for its success. That's because the better the services are connected, the more likely it is that schedules and goals will be met.
In this article, Appvizer explores the importance and benefits that Workforce Management brings to the management of an organization. Learn about the processes involved and the fundamental role that Workforce Management tools play in the process.
What is Workforce Management (Workforce Management)?
Workforce Management in Spanish
Workforce Management, which in Spanish could be translated as workforce management, is a strategy that seeks to streamline certain business processes so that employees can:
- Dedicate themselves to performing the tasks that have been assigned to them;
- save time by leaving aside tasks of low strategic value such as:
- Fill out forms,
- making requests,
- requesting information, etc.
What is the added value of Workforce Management?
The main objective of implementing Workforce Management is to standardize business processes and make them work together, maximizing their effectiveness. Thanks to the alignment of procedures, the company's human talent is able to significantly improve its performance.
Processes covered by Workforce Management
Workforce Management is usually applied to Human Resources Department processes to simplify and streamline information entry, although it is also applicable to other areas of the company.
Some of the processes that can benefit from Workforce Management include:
- HR. HR.
- Resource management. Schedule planning and task allocation, taking into account employees' qualifications, personal work time preferences and availability.
- Career management. Understanding how each team member works, allowing the employer to understand their needs in terms of training and career development. Also, recognizing their performance when objectives are exceeded.
- Workplace well-being. Improving the employees' experience from the moment of integration, through their life cycle in the company until they leave.
- Time and attendance. Workday recording and management of sick leave and leaves of absence.
- Planning and Administration. Estimation and generation of budgets, as well as monitoring of company resources and their correct disposition among the different departments of the company.
- Field Service Management. Administration of material or mobile resources of the company.
- Analytical. Analysis of data and generation of statistics on the operation of the business with a view to its future evolution.
- Customer Service. Applied to contact centers (contact center) for:
- Forecasting business trends and planning marketing campaigns;
- analysis of the number of requests from customers to forecast a consistent number of agents at their disposal;
- scheduling shifts to meet service demands.
Benefits and advantages of Workforce Management for the company
Considering the central role that Workforce Management plays in the company, companies that invest part of their IT budget in its optimization have the following benefits:
Increased operability and productivity 2.
When a Workforce Management System is implemented and standardized, it becomes possible to meet the organization's production and performance objectives without compromising quality. This is because Workforce Management facilitates:
- The correct assignment of responsibilities,
- to the professionals who have the necessary skills,
- to perform activities at the right time and at the right cost,
- and at the right cost.
In this way, it ensures the achievement of the desired production, having optimized all resources.
2. Cost reduction
Estimating and allocating resources can be a difficult task when managing complex projects or several projects at once. The company must be able to ensure the correct correlation of activities in order to minimize the risk of staff being subjected to overtime.
Thanks to the automatic calculation of employees' working times, the scheduling of personnel assigned to a mission is simplified and optimized. This ensures compliance with the planned budget and even generates significant savings.
In addition, in the event that overtime is required, exceptional payment rules can be automated to ensure that they are properly remunerated.
Improved customer service
By implementing Workforce Management Systems it is possible to provide better customer service to ensure customer satisfaction. This is because teams have more and better tools, which make them more efficient in delivering a better overall customer experience.
4. Risk limitation
Reducing the risks of non-compliance with national and international labor legislation is no longer a concern for organizations with a Workforce Management system. This is because these tools generally have the necessary standards to ensure compliance with legislation and make it easier to verify compliance with the competent authorities. This not only mitigates the risk of legal non-compliance, but also the risk of financial damages derived from it.
5. Increased workforce motivation
When employees are able to work better thanks to tools that facilitate their day-to-day work, they tend to be more committed to their work and to the company in general. This is possible thanks to the optimization of aspects such as:
- Communication between work teams and project management,
- the generation of useful data and information for better decision making,
- automation of repetitive tasks,
- time and attendance control and absence management, etc.
By benefiting from greater transparency in processes and having greater visibility of them, workers perform in a much more reliable environment, which ultimately translates into better rates of work motivation and well-being.
Organizations that achieve better performance from workforce optimization report an 11% increase in employee satisfaction, compared to 2% for all others.
Workforce management software
Specialized Workforce Management software is the means for companies to increase their efficiency and productivity as they expect. This set of tools takes care of assigning the right person to the right job. They also facilitate the effective monitoring of all operations.
WFM tools are able to contribute to:
- The improvement in the performance of the organization's human talent,
- Reducing labor management costs,
- the reduction of absences and other inefficiencies related to human resources.
Don't let any more time go by without focusing your efforts on the most valuable resource you have: your human talent. Tell us in the comments what other benefits you have been able to see thanks to the implementation of a Workforce Management system for your company.
Article translated from Spanish