Employees are expensive to manage, especially if you choose to do it the old way. And according to Human Capital Management, 70% of an entity’s operating costs go towards employee workforce management, including salaries, overtime, hourly wages, and indirect compensation.
Yet, only under 3% of an organization’s spending goes into workforce management software and related technology. The implication is that most decision-makers do not understand the importance of WFM managed services and the benefits to an enterprise despite living in a century where technology is the order of the day.
The following are some of the benefits of modern workforce management solutions:
4 Benefits of Managed WFM Systems
Increase Agility and Productivity
An automated workforce management approach guarantees fast and efficient data management services. And with that, managers will enjoy the convenience of having data in their hands and making better decisions. Employees are productive when you match them with duties that align with their skills, expertise, and talents.
With data, you will assign the correct responsibilities to the right people with the right skills at the right time. Such an advantage allows you to respond to service delivery fluctuations promptly without impacting quality. Besides, staff scheduling and management solutions offer higher staff utilization.
You can substantially reduce your operational expenses with the right staff management solutions. Firstly, automating your employee compensation calculations will potentially eliminate errors and possible losses. Modern workforce management solutions can handle complex pay rules and systems with remarkable precision, speed, and ease.
Moreover, a modern workforce management and scheduling solution will allow you to adjust to any staffing demands as conditions within your organization change. Through this, you will notice a dramatic reduction in labor costs.
Improve Employee Morale
It is impossible to achieve and maintain high customer satisfaction levels before you meet the satisfaction needs of your staff. A good workforce management solution can ensure high employee satisfaction levels by creating a healthy working environment.
Workforce management systems can boost the morale of your staff through transparent and fair engagement. It also has the potential to promote healthy manager-employer communication. Improved interaction between managers and employees and among employees will remarkably enhance employee satisfaction and performance.
Reduce Noncompliance Risks
Large companies and organizations have many compliance and regulatory obligations that go beyond state and national laws. There are union rules, local ordinances, company policies, and employment contracts. Complying with all these without an automated workforce management system is a significant challenge many companies struggle to uphold.
Of course, gaps in compliance with these regulations often lead to costly errors and sometimes financial sanctions that dent your profits. A robust managed workforce management system can help you handle most of these and provide detailed compliance reports. Ideally, this is an incredible way to demonstrate compliance and mitigate non-compliance risks and associated risks.
Implementing an automated uniformed WFM system helps enterprises or organizations of all sizes streamline compliance, cut labor costs, and empower their staff. You can also delegate working hours efficiently to improve productivity using modern workforce management solutions.