Employee Experience, Agile Work Driving Advances in Workforce Management Software
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Insights
Advancements in workforce management software are indicative of broader market trends, where efficiency and employee satisfaction converge. With the integration of smart forecasting and agile scheduling, companies can anticipate customer demands and align their staffing accordingly. This proactive approach can lead to cost savings by reducing overstaffing during low-demand periods and ensuring adequate coverage during peak times, which in turn can improve the company's bottom line.
Moreover, the inclusion of comprehensive absence management and precise time and activity tracking can mitigate compliance risks associated with labor laws and regulations. By automating these processes, businesses reduce the likelihood of human error and the potential for costly legal repercussions. The use of such technologies can thus be seen as a strategic move to safeguard against operational and financial vulnerabilities.
The emphasis on employee experience (EX) within workforce management software reflects an evolving labor market where workers increasingly value flexibility and autonomy. By fostering a culture of self-service and open communication, companies can boost employee engagement and productivity. Engaged employees are more likely to contribute positively to the company's culture and customer service, which can be a competitive differentiator in industries with high customer interaction, such as retail and hospitality.
Furthermore, integrating gig workers into the staffing mix offers businesses the ability to scale their workforce in response to fluctuating demands. This flexibility can be particularly beneficial for sectors with variable peak periods. However, it's important to note that relying on gig workers also presents challenges in maintaining a consistent company culture and ensuring quality standards.
Workforce management software has become more than a simple administrative tool; it's now a strategic enabler that integrates into daily processes. The seamless integration of such software into existing systems is important for adoption and utility. When workforce management tools are perceived as 'additive' rather than disruptive, employees are more likely to embrace the technology, leading to higher utilization and more accurate data collection.
Successful integration requires a deep understanding of the company's operational workflows and the ability to customize software features to meet specific needs. Businesses must ensure that their technology investments are compatible with their existing infrastructure and they should consider the long-term scalability of these solutions to accommodate future growth.
Companies are turning to Workforce Management software to streamline processes and foster a culture of self-service, open communication and teamwork, new study says
The 2024 Ventana Research Buyers Guides for Workforce Management note the focus on EX has grown steadily in recent years amid worker demands for greater flexibility and a tight labor market. At the same time, enterprises are challenged by workplace logistics and the need to optimize labor. These dynamics continue to impact organizations, particularly enterprises with substantial numbers of hourly workers like those in retail, manufacturing, healthcare and hospitality, the study says.
“Workforce management software providers are paying attention to what is really impacting workers and those that manage them,” said Matthew Brown, director, Human Capital Management Research, at ISG’s Ventana Research. “They are developing and delivering capabilities that build trust and confidence in technology and its ability to seamlessly integrate into daily processes and behaviors in a way that feels additive more than ever before.”
At its heart, workforce management software is like “the supportive backbone of a company,” the study says, offering a suite of tools that streamline processes and foster a culture of self-service, open communication and teamwork.
The key components of today’s workforce management software are smart forecasting, agile scheduling, comprehensive absence management and precise time and activity tracking. By ensuring the right people with the right skills are in the right place at the right time, organizations can efficiently and profitably meet customer needs and business demands.
“For business leaders, workforce management is a dynamic puzzle that involves understanding not just who is available but who works best together, how to manage staffing levels and how to leverage diverse talents, including those of gig workers. It’s about seeing both the big picture and the fine details,” Brown said.
Software providers continue to integrate AI and ML capabilities into their workforce management products, the study says. Such capabilities will permit scheduling that benefits both employee and company, enable seamless fulfillment of time-off requests balanced with customer needs and provide virtual assistants to improve efficiency and job satisfaction. Time recording will be enhanced with finger scans and facial recognition, and advanced analytics will enable managers to accurately forecast labor demand.
Mobile-first product strategies are the norm in workforce management software, the study notes, with advanced mobile capabilities increasingly connecting workers with targeted learning opportunities that make them eligible for certain shifts or jobs as part of normal workflows.
Workforce Management Suites
The 2024 Ventana Research Buyers Guide for Workforce Management Suites assesses 10 software providers – ADP, Dayforce, Infor, Oracle, Quinyx, Replicon, SAP, UKG, Workday and WorkForce Software – that offer comprehensive suites including activity and task management, analytics, collaboration, time-clock support, mobility and integrations with enterprise applications including human resource, financial and business productivity platforms.
The research ranks ADP atop the overall list, followed by Oracle and UKG, all of which are designated Leaders due to their top-three ranking.
Workforce Management Basics
The 2024 Ventana Research Buyers Guide for Workforce Management Basics evaluates 15 providers – ADP, BlueYonder, Dayforce, Infor, Oracle, Paychex, Paycom, Paycor, Quinyx, Replicon, SAP, UKG, Workday, Workforce Software and Zebra – that provide basic timekeeping and scheduling tools. ADP, Oracle and Dayforce were ranked one through three overall to earn a Leader designation.
"The requirements for workforce management and support of an hourly-based workforce have historically eluded the portfolio of applications from HCM providers,” said Mark Smith, partner, Software Research, at ISG. “This research sets a new standard for evaluating software providers for any sized enterprise no matter if they need a suite or if the basics meet their requirements.”
The Ventana Research Buyers Guides for Workforce Management are the distillation of more than a year of market and product research efforts. The research is not sponsored nor influenced by software providers and is conducted solely to help enterprises optimize their business and IT software investments.
Click on Workforce Management Suites Buyers Guide and Workforce Management Basics Buyers Guide to read executive summaries of the reports. The complete reports, including provider rankings across seven dimensions of product and customer experience and detailed research findings on each provider, are available by contacting Ventana Research.
About Ventana Research
Ventana Research, part of Information Services Group (ISG), provides authoritative market research and coverage of the business and IT aspects of the software industry. It distributes research and insights daily through the Ventana Research community, and provides a portfolio of consulting, advisory, research and education services for enterprises, software and service providers, and investment firms. Its Ventana On-Demand (VOD) service provides structured education and advisory support through subject-matter experts. Ventana Research Buyers Guides support the RFI/RFP process and help enterprises evaluate and select software providers through tailored Assessment Services and Ventana Research’s Value Index methodology. Visit www.ventanaresearch.com to sign up for free community membership with access to research and insights.
About ISG
ISG (Information Services Group) (Nasdaq: III) is a leading global technology research and advisory firm. A trusted business partner to more than 900 clients, including more than 75 of the world’s top 100 enterprises, ISG is committed to helping corporations, public sector organizations, and service and technology providers achieve operational excellence and faster growth. The firm specializes in digital transformation services, including AI and automation, cloud and data analytics; sourcing advisory; managed governance and risk services; network carrier services; strategy and operations design; change management; market intelligence and technology research and analysis. Founded in 2006, and based in
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Press:
Will Thoretz, ISG
+1 203 517 3119
will.thoretz@isg-one.com
Julianna Sheridan, Matter Communications for ISG
+1 978-518-4520
isg@matternow.com
Source: Information Services Group, Inc.
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