Workforce Management (WFM) may not be a concept you’re familiar with. In short, it’s the management of staffing, scheduling, forecasting, and your ability to adapt on the fly. Ultimately, it’s about creating the most efficient workforce possible.
Benefits of effective workforce management include higher morale and employee engagement. Did you know, according to HR Technologist, that companies with a high employee engagement rate typically experience a 16% increase in profitability?
Working Habits Are Changing
WFM has never been more important because of the way work is changing. These days 70% of the global workforce works remotely at least once a week. Old methods of WFM simply aren’t enough to take this into account.
As more workers shift to remote work, or partial remote work, it’s only going to grow in importance. Now WFM must consider that employees could be in different time zones and may work different hours.
Your WFM policy needs to be more flexible than ever before.
Happy Workers Are Your Greatest Asset
Gone are the days where you knew your employees would take any old garbage you wanted them to take. It’s a fact that the millennial generation is switching jobs at a rate never seen before.
21% of millennials say they’ve changed jobs in the last year, which is three times more than any other group.
So, if your WFM policy isn’t catering to keeping your employees happy, they can and will go elsewhere.
Don’t make them conform to your policy; conform to how they want to work. And it won’t surprise you to learn that companies with happy workers are more likely to be profitable.
Be Flexible with Your Workplace Efforts
You need to be flexible when it comes to scheduling in order to save money. But if you’re too flexible you’re going to see the quality of your services decline, particularly when it comes to customer service.
Find a balance in terms of providing an effective service without working your employees to their breaking point.
Keep in mind you can improve your WFM program by simply introducing new technologies, such as AI and automation.
Platforms like Synerion are becoming increasingly popular as they start to cater to these new demands from the workplace.
Prevent Confusion and Conflict
Ever worked for a company that fails to schedule staff appropriately? Think of the worker who needs to take a day off, but it isn’t registered in the system. Or consider the worker who keeps getting scheduled for overtime on too many days.
This is evidence of a poor WFM policy. Spending some time focusing on crafting a smart WFM policy can stop confusion within your company and prevent conflict between management and employees.
Last Word – Workforce Management Is Not Corporate Nonsense
It’s easy for small businesses to believe they don’t need a WFM policy. However, WFM is not about more bureaucracy and more work. It’s a vital aspect of management designed to make happier employees and a more productive company.
Do you have a WFM policy yet?
