What Is Workforce Management (WFM)?
Workforce management is the application of information technologies in a business or applications and other products to analyze, evaluate, and optimize workforce systems. Having read this, it seems very complex. Don't you worry. It is much simpler than it looks to you. The purpose of WFM is to provide a system that allows managers to decide how to allocate their employees' time. The system should also allow managers to evaluate their employees' performance on an ongoing basis to meet their needs and expectations more effectively. WFM solutions combine data from sources such as employee time cards, shift schedules, and management reports with information from other systems such as payroll and accounting. The result is a comprehensive view of workforce activities that allows managers to make better decisions about how best to manage their teams. The workforce is a big deal. If you're like most people, you know you'd be out of a job without it. But what if you could use a tool to help you manage your workforce better? WFM is often seen as a component of enterprise resource planning (ERP) systems as part of overall human resource management. A wide variety of applications and software products help human resources employees to manage a workforce. In general, the full range of workforce management tools on the market allows those responsible for workforce management to make the right decisions and to look at a bird's eye view of the workforce to determine what's going on and how things can be optimized. Although these kinds of tools have innovated the human resources industry, some critics note the limitations and restrictions of these tools in actually projecting outcomes. The best strategies involve a combination of workforce management tools for analysis, and active management, which involves significant person-to-person interaction.
Related Terms by Human Resource Technology
Join Our Newsletter
Get weekly news, engaging articles, and career tips-all free!
By subscribing to our newsletter, you're cool with our terms and conditions and agree to our Privacy Policy.