By Andie Burjek
Apr. 23, 2020
Workforce management professionals face more responsibilities than ever before, and workforce management software can help them manage their many responsibilities.
While workforce management used to be a more focused term — mostly encompassing payroll, timesheets and scheduling — now it encompasses a broader array of duties including recruiting, onboarding, training, technology and more. Some of these duties are owned by HR, while IT, finance or operations take care of others. Balancing this variety of duties is not simple.
Between 2020 and 2025, the workforce management software market is expected to grow at a compound annual growth rate of 4.21 percent, according to India-based market research organization Mordor Intelligence. The report also found that the global workforce management software market was valued at $2.7 billion in 2019 and is expected to reach a value of $3.5 billion by 2025.
Why use workforce management software?
Organizations are interested in using HR and workforce management software for multiple purposes, and many organizations plan to use certain types of software in their long-term plan, according to the 2019 “HR State of the Industry” report from the Human Capital Media Research and Advisory Group, the research arm of Workforce.com. While 37 percent of the organizations surveyed already use a management software system that addresses all core areas of talent management, 10 percent plan to purchase it in the next year and 8.4 percent plan to in the next three years.
The same trend exists for organizations interested in software that specializes in one talent management category. According to the report, 46.4 percent of employers already used recruiting technology software, 9.2 percent planned to in the next year and 6.5 percent in the next three years. With scheduling/time and attendance software, 59.9 percent of respondents already used it, and 9.3 percent and 5.8 percent plan to in the next year and three years, respectively.
Among this huge workforce management software landscape, organizations may have challenges choosing a provider and managing the software. Vendors are releasing new versions of workforce management software every other day while similar companies are also emerging, noted MarketWatch.
One important functionality of a workforce management software solution is the capability to create schedules based on varying rules and regulations. For example, numerous cities and states have passed legislation including laws guaranteeing workers the right to request scheduling accommodations and predictable scheduling laws. Meanwhile, an organization may have specific internal rules that apply to just one team of employees, or they may have global employees who don’t fall under American law.
The benefits of workforce management software
Workforce.com software, for example, addresses this by allowing users to input a rule or regulation and have it automatically added to the system. This isn’t the case with every time and attendance software, but capabilities like this allow workforce management professionals to create good schedules despite the many rules that impact how they can and can’t schedule employees.
The benefits of workforce management software solutions are clear. They can save organizations time and automate complicated processes. Still, some organizations haven’t made the leap yet, citing reasons like lacking the time, budget or resources to choose products, assess vendors and deploy new applications.Experts advise companies in this predicament to start small with core software solutions that address payroll, time and attendance, paid time off and benefits. Delaying workforce management software investments will hinder a manager’s ability to automate the necessary tasks and focus on the parts of their job that can’t be automated.
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