What is workforce management?
Workforce management’s (WFM) three objectives are:
- Increase productivity at work
- Handle legal requirements
- Activate your staff
The term “workforce management” encompasses all the duties necessary to manage a productive, motivated team. This includes monitoring award needs, rostering employees in accordance with the budget, making sure payroll is accurate, and fostering a wonderful work environment. Software for workforce management can streamline the entire procedure and aid in any company’s ability to adjust to change.
What is workforce management software?
A workforce management software is a software program designed to assist an organisation in managing a productive and motivated staff while adhering to employment regulations. A top workforce management system allows managers to quickly generate rosters, accurately track staff work hours for flawless payroll, and provide workers with the resources they need to manage their professional and personal lives.
Challenges of Traditional Workforce Management Solutions
An effective workforce management approach is essential when it comes to overseeing your staff on a daily, weekly, and monthly basis. A corporation may experience a number of problems as a result of an unsuccessful WFM process, such as shifting business requirements, changing legal obligations, and the difficulty of overseeing sizable and diverse teams. Thankfully, many of these problems have an answer thanks to technological advancements. With the correct software, businesses may increase productivity, cut costs, and streamline their personnel management procedures.
Top 5 Benefits of Workforce Management Software
Controlled Finances
By minimising overstaffing and overtime, labour-requirement computing technology can help organisations cut expenses. Some sophisticated WFM systems allow budget effects to be shared at the time schedules are being created.
Increased Payroll Accuracy
Workforce management software that determines normal overtime within the organisation and analyses hours worked can significantly reduce human errors associated with manual data entry.
Increased Output
Employers have the ability to compare attendance and time data with organisations that are similar to their own in terms of size, industry, and location. This role can act as a trigger to act if the competitor is outperforming you.
More Intelligently Created Schedules
Staffing managers can be informed about labour shortages via a variety of workforce management systems, which will help them quickly fill the voids and ensure a smooth shift. WFM software may also create schedules according to department, position, or geographic criteria, ensuring that all significant factors are taken into account.
Minimization of Compliance Risk
Workflows that automate leave entitlement, allocation, and balances can help manage employee leave more efficiently. The ability to retain records can come in handy should an audit be conducted.
Key Factors in Choosing the Best Workforce Management Software
To begin using workforce management software and implement best practices for workforce management software:
- Determine the problems in the business: Examine areas where operational expenses are rising, such as high absenteeism or ineffective manual scheduling that results in subpar personnel levels, to see where changes are required.
- Ascertain fundamental compliance and governance solutions: In order to strengthen governance and comply with legal requirements, implement essential human resources functions that digitise payroll and employee data.
- Implement self-service timekeeping systems: To streamline time management procedures, provide web-based tools that allow staff members to log their working hours, request overtime, and ask for time off.
- Examine HR data: Create labour cost and productivity Key Performance Indicators (KPIs) that are in line with corporate goals and that employees understand.
- Provide instruction on communicating and using tools: Employees should receive training on workforce management tool usage and benefits communication to guarantee broad acceptance and comprehension.
- Integrate payroll and HR systems with workforce management: By integrating workforce management solutions with HR and payroll, you can improve payroll processing accuracy and ensure that each employee is paid correctly.
- Make sure the top organisational levels are on board: Obtain the highest level of commitment from the leadership team to base workforce management decisions on evidence, rather than just intuition.
Workstem: Top Recommendation for Workforce Management Software
Simplify your payroll process and ensure accurate pay rates with Workstem’s automated payroll system. Our pre-built modern award interpretation software covers 122+ awards and 34 EBAs, and keeps you up-to-date with penalty rates and other award entitlements.
Choose between our Standard and Advanced plans, and enjoy a range of benefits such as Fair Work compliance, an employee self-service App, and customised rule set.
Book a free demo with our payroll experts. Experience the efficiency and accuracy of Workstem today!
