Thinking of getting a workforce management solution for your business but don’t know where to start?
This might be the right place to begin.
Educating yourself about what a workforce management solution is will help you arrive at a well-informed decision that will ultimately be good for your business.
But before that, here’s everything you need to know about workforce management systems and technologies.
What are workforce management solutions?
To understand what workforce management solutions are, we must first define workforce management.
Workforce management is the process of organising and maximising the productivity of an organisation’s employees.
Managing employee schedules, monitoring performance, as well as record keeping of time and attendance are just some of the basic steps in this process.
A workforce management solution, on the other hand, is software that automates, digitalises, and streamlines this process.
It provides tools that improve the efficiency of overseeing employee operations.
How do workforce management systems work?
An effective workforce management system simplifies and optimises the most basic yet most important HR processes.
And according to SelectHub, these HR tasks can be categorized into five main functions which are facilitated by workforce management systems.
- Scheduling – Automates scheduling and rostering, aligned with employee’s skillset and regulatory compliance
- Data collection – Keeping records of employee data as well as capturing insights about business operations.
- Leave management – Tracks and processes employees leaves.
- Task management – Delves deep into the specifics of roles and tasks and provides a guide for the assignment of tasks and the assessment of performance.
- Time and attendance – Synchronises with other modules to help track time and attendance, and analyse it based on organisation policies.
Another important function is payroll management.
WFM systems reduce time spent on manual processes because it syncs timesheets to the payroll, automatically maintains tax compliance, and integrates with general ledgers to reconcile payroll transactions, entitlement accruals and more.
What are the other features of a workforce management solution?
An article by G2.com also states that there are more specific elements to workforce management software that fall under the five main functions.
Here are some of the common features that you can expect from a WFM system:
- Labour budgeting
- Staff scheduling
- Employee Portal
- Asset Tracking
- Compensation and benefits
- Employee performance management
- Vacation and leave planning
Why do you need a workforce management solution?
If you think your business has been doing fine even without a workforce management system in place, you may be missing out on some helpful features that can completely transform your HR administrative work.
For those that need convincing, the same article from G2 also cites the following benefits of this technology:
- Enhanced visibility – Employee data can be accessed from any time, anywhere. This data can be organised and presented in a user-friendly interface within one platform.
- State-of-the-art automation – Eliminate the need for manually updating records which could result in redundancies and errors, with a system that synchronises and automate these steps.
- Error-free scheduling – The system cross-references data across different modules and functions and creates algorithms to ensure minimal errors in scheduling.
- Real-time evaluation – With employee data being consistently updated on one centralised platform, managers can see and assess employee performance in real-time.
- Better employee engagement – A workforce management system not only increases transparency but also simplifies some administrative steps of the workforce.
- Reduce non-compliance risks – Regulatory compliance is automatically updated within the system to ensure that non-compliance risk is at a minimum.
So, have we answered most of your questions?
You may also book a free demo for our solutions, MYOB Advanced People, MYOB Exo Payroll, Sybiz Visipay, and Wage Easy to see first-hand how these systems can improve the effectiveness and efficiency of your HR processes.