Workforce management (WFM) is a set of processes and systems that organisations use to plan, schedule, and manage their workforce. WFM helps organisations optimise their workforce costs, improve employee satisfaction, and ensure that they have the right people in the right place at the right time to meet customer demand.
WFM typically includes the following components:
Workforce planning:Â This involves forecasting demand for labor and developing staffing plans to meet that demand.
Scheduling:Â This involves creating schedules that ensure that employees have the right skills and experience to do their jobs, and that they are scheduled in a way that minimises costs and maximises productivity.
Time and attendance:Â This involves tracking employee hours worked and ensuring that employees are paid accurately.
Absence management:Â This involves tracking employee absences and ensuring that they are approved and managed in a way that minimises disruption to the business.
Reporting:Â This involves generating reports that provide insights into workforce performance and trends.
WFM can be a complex process, but it can be a valuable tool for organisations of all sizes. By implementing WFM, organisations can improve their workforce efficiency, reduce costs, and improve employee satisfaction.
Benefits of Workforce Management
There are many benefits to implementing workforce management, including:
Increased productivity:Â WFM can help organisations optimise their workforce costs and improve employee satisfaction, which can lead to increased productivity.
Reduced costs:Â WFM can help organisations reduce labor costs by ensuring that they have the right number of employees working the right hours.
Improved employee satisfaction:Â WFM can help organisations improve employee satisfaction by providing employees with more flexibility and control over their schedules.
Increased compliance:Â WFM can help organisations comply with labor laws by tracking employee hours worked and ensuring that they are paid accurately.
Better decision-making:Â WFM can provide organisations with insights into workforce performance and trends, which can help them make better decisions about staffing, scheduling, and other workforce-related issues.
How to Implement Workforce Management
The first step in implementing workforce management is to assess your current workforce management processes. This will help you identify areas where you can improve efficiency and effectiveness. Once you have a good understanding of your current situation, you can start to develop a plan for implementing WFM.
There are many different WFM solutions available, so it is important to choose one that meets your specific needs. Some factors to consider when choosing a WFM solution include the size of your organisation, the complexity of your workforce, and your budget.
Once you have chosen a WFM solution, you need to train your employees on how to use it. This will help ensure that they are able to use the system effectively and that they understand the benefits of WFM. WFM is a complex process, but it can be a valuable tool for organisations of all sizes. By implementing WFM, organisations can improve their workforce efficiency, reduce costs, and improve employee satisfaction.
Platinum WFM is a niche provider of Workforce Management Solutions tailored to the needs of our clients focused on personal service and client success. We deliver outsourced and managed workforce management solutions that optimise workforce costs, improve employee satisfaction, and ensure that clients have the right people in the right place at the right time to meet customer demand.
Talk to our team today on 1300 241 850 or email us at hello@platinumwfm.com.au for a no obligation discovery session or chat with our friendly team.