What Is Workforce Management Software?

A set of tools known as workforce management (WFM) software ensures that employees are in the right place at the right time for maximum productivity. Labor forecasting, employee scheduling, time and attendance tracking, leave management, and platforms for rule or policy enforcement to help with regulatory compliance are typically among its capabilities. Workforce management software is essential for employers with hourly or shift-based workers and additional complexities such as varying schedules, fluctuating availabilities, and wage and hour calculations, despite the fact that these features are beneficial to any business.

What Does Workforce Management Software Do? 

The capabilities of WFM vary by solution and industry. Software at the entry-level typically includes basic employee scheduling but may or may not include time and attendance tracking for employees. On the other hand, more robust solutions typically provide services such as labor forecasting, advanced scheduling, and real-time employee management, among others, with the goals of reducing expenses and increasing productivity.

Why Should You Use Workforce Management Software?

Software may be better suited than people for some managerial tasks because humans lack the processing power to make decisions based on massive amounts of data and occasionally exhibit confirmation bias. For instance, sophisticated algorithms are used by workforce management software forecasting engines to learn from the past and predict the future. Without the assistance of a group of analysts, this is carried out with a level of precision that would be difficult for the majority of managers to achieve.

Additionally, workforce management software can simplify laborious and error-prone tasks like accurately applying all pay rules and calculating hours from punches. Employers can reduce errors, save time, and have data for payroll sooner by bringing these processes online and letting the system handle them for them.

Features Of Workforce Management Software 

Modern workforce management software has a lot of features, many of which are hosted in the cloud and have high levels of data backup and security. Typically, these functions include:

Labor Forecasting:

Employers can better prepare for fluctuations in customer demand and make the most of their budgets by using labor forecasts. Holidays, special events, and the weather are among the possibilities for modeling.

Scheduling:

Employers can create schedules that are most appropriate for their anticipated labor requirements and select the ideal employee for an open shift based on preferences, certifications, skills, and other factors. Employees can also swap shifts with coworkers and indicate their availability prior to assignments using some workforce management software. 

TimeTracking: 

Employers can record hours worked at the source because workforce management software is frequently compatible with web-based timesheets, time clocks, mobile apps, and point of sale (POS) devices. The data is then sent to payroll by the system, which automatically processes it in accordance with specific business rules and policies

Absence Management:

Time off balances may be accessible to managers quickly, allowing them to compare their absence data to industry norms. Additionally, tracking requests for extended leave, including those granted under the Family Medical Leave Act (FMLA), is generally made simpler by workforce management software.

Overtime Management:

Workforce management software makes it easy to give employees overtime, distribute it fairly, and approve payments. When a worker approaches over time, the system will typically notify employers and can automatically notify employees if they attempt to work additional hours without authorization. 

Analytics: 

Managers can address potential issues before they become problems by utilizing built-in dashboards, which provide real-time visibility into attendance and scheduling data. They can also run key indicator reports to see how their employees are doing over time.

Regulatory compliance:

Workforce management software may allow managers to set work and pay rules to comply with internal policies, union contracts, and wage and hour laws. Additionally, the system provides an audit trail of timecard edits and modifications, which can be a useful defense in the event of a dispute. 

Mobile Accessibility:

Managers can quickly fill vacant shifts or hire replacements with workforce management software that works with mobile devices. Employers may, for instance, use a smartphone or tablet to quickly search for available workers and ensure that coverage is optimal when someone calls out.

What Are The Benefits of Enterprise Workforce Management Software?

Software for workforce management can identify the requirements of an entire business, making life easier for managers and enhancing employee engagement. Among the benefits are:

Help With Cost Control

Employers can avoid overstaffing, understaffing, and excessive overtime, all of which raise costs, by utilizing WFM software's forecasting capabilities to anticipate labor requirements. Some advanced systems will even demonstrate how the creation of a schedule affects budgets.

Improved Payroll Accuracy

The data it receives from time and attendance is crucial to accurate payroll. Workforce management software eliminates the need for repetitive data entry and manual calculations, lowering the likelihood of human error. For optimal payroll reliability, the system automatically examines hourly labor and patterns of overtime.

Increased Productivity

Workforce management software that is mobile-enabled lets managers and employees do important things like submit timecards, approve requests and switch shifts without having to go to a physical location. They can continue to be productive while remaining on the shop floor or in the storefront, and they will never be too far from the information and tools they require.

Smarter Schedules

Workforce management software makes it simple for managers to create schedules by department, job, or location. Additionally, they may be able to access time-off balances in real-time, allowing for immediate correction of coverage gaps.

Minimized Compliance Risk

Bereavement leave and parental leave related to school may be state policies that businesses must contend with in addition to the FMLA. The majority of workforce management software includes automated workflows that can make it simpler to deal with the complexity of overlapping leave laws and verify employee eligibility. In the event of an audit, online recordkeeping also provides a document trail.

Valuable Workforce Insights

Some time tracking software's analytics can provide employers with insights not only into their schedules but also into their employees' productivity and the factors that keep them engaged. They might even be able to see how they stack up against their rivals by comparing these results to benchmarks set by the industry.

Choosing The Best Workforce Management Software For Your Business

A company's industry, workforce characteristics, work locations, and strategic objectives all play a significant role in determining the appropriate workforce management software. Employers typically go through the following procedure when looking at potential solutions: 

#1. Define the current state of workforce management software.

Document the stakeholders accountable for each WFM task and existing processes.

#2. Do a self-evaluation.

Find the WFM activities that are efficient and the ones that need to be improved.

#3. Identify workforce management software maturity level.

Consider whether the company is prepared for an advanced WFM solution that makes use of artificial intelligence and offers in-depth analytics or just a basic time and attendance tool.

#4. Prioritize requirements

Prioritize the list of pain points and desired WFM features at the top of the evaluation for the provider.