This approach also creates a single source of truth, rather than forcing leaders to access full-time worker data through a human capital management (HCM) system and contingent worker data through a separate vendor management system (VMS). In its fullest iteration, WFM uses real-time data and artificial intelligence (AI) to link workforce planning with enterprise-wide strategic planning, maximizing worker performance, efficiency, and engagement while reducing organizational risk. Modern WFM can go far beyond scheduling and time tracking to help leaders manage these changing norms. Today, hourly and contingent workers make up the backbone of many organizations. Similarly, businesses can no longer afford to treat hourly workers as expendable or their scheduling needs as optional. Business leaders must be able to ready their workforce for change, while complying with scheduling laws and worker safety guidelines. The unprecedented upheavals of recent years-from the pandemic to worker shortages to supply chain struggles-have underscored the need for businesses to get the most value out of their extended workforce while adapting to changes and opportunities. This increasingly complicated reality has highlighted the importance of data-driven WFM and modern WFM tools.
#WFM TIMEKEEPER MANUAL#
Manual processes or disparate legacy systems no longer cut it. Forget dividing X hours across X people: Today’s managers must consider scheduling preferences, individual skills, budget constraints, and regulatory compliance across multiple worker classifications. As an extended workforce-one with a mix of salaried, part-time, contingent, and freelance workers-has become the norm, scheduling hours and activities while monitoring efficiency has grown tremendously complex. Thankfully, the evolving nature of work has shifted this view of WFM. Necessary? Yes, but it’s without the strategic impact or innovative potential associated with HR disciplines like employee benefits or learning and development.
(Think printed spreadsheets tacked to break room walls.) This manual approach reinforced the perception of timekeeping and scheduling as the boring-but-necessary back office part of HR.
Traditionally, WFM relied on a top-down approach in which supervisors created shift schedules for their teams. Advanced tools also help forecast how many workers will be needed to meet shifting business demands, such as for a new project or seasonal traffic. WFM tools are mainly for managing workers who need to be on-site to perform their job (such as frontline workers) since a primary benefit is helping companies schedule workers’ workdays and track the time they spend at work. Also known as WFM, workforce management enables organizations to know how many employees it needs to complete a job or fill a shift each day, week, and month. Workforce management is about processes that maximize workforce performance and productivity.Īt its most basic level, workforce management focuses on time management. In this article, we explore what workforce management means amid a landscape of evolving workers expectations and the changing nature of work, and what organizations need to consider when identifying workforce management solutions that enable deploying the right talent at the right time. To ensure the right number of workers with the right skills are staffed at the right time now and in the future, executives use workforce management (WFM) processes. Modern executives need to understand not only when and where to deploy workers today, but also how these needs will morph tomorrow. But as the nature of work and workers’ expectations have shifted dramatically in recent years, this responsibility has accrued additional weight.
#WFM TIMEKEEPER HOW TO#
No wonder, then, that research routinely demonstrates a close connection between engagement, productivity, and profitability.īecause a company’s workforce is so elemental to its success, leaders have always been charged with determining how to maximize worker performance and productivity. Each day, workers directly affect everything from brand perception to profit margins. For an employer, workers represent two sides of the same coin: They’re the company’s biggest expense-and its biggest asset.
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