May 31.2018, 4.15pm
6 ways to transform your business with workforce management software
Digital disruption isn’t just about doing things better, faster and smarter. It’s about changing the way we think. Nowhere is this more evident than in business, where the introduction of workforce management software has revolutionised the way that modern organisations operate.
Not only has it helped to streamline companies and make them more efficient, it’s also changing organisational design, reinventing the way that departments operate, and actively empowering employees in their working lives. Here are six ways that workforce management software can transform your business.
1. You can reduce costs with demand-based rostering
One of the biggest challenges in business is getting the right people in the right place at the right time. Demand-based rostering lets managers predict their staffing needs within 30 days with an incredible 97 percent accuracy. It uses predictive analytics, data analysis and historical trends to optimise your staffing needs on any given day.
This reduces costs incurred by unnecessary overtime, scheduling inaccuracies, overstaffing or lost sales due to understaffing. It can also reduce the time spent drawing up rosters by 82 percent, freeing up managers to focus on what really matters.
2. Employee self-service can be facilitated
Self-service options help to automate HR functions by giving people the power to update their own records, process leave requests and access their career development progress using real time analytics. Self-service technology has been shown to improve employee engagement by 18 percent, which ultimately can help you retain your star performers.
It also frees up managers and HR leaders to swap administrative chores for strategic pursuits. A massive 87 percent of respondents in a joint survey from Paycom and HR.com agreed that self-service technology is the most efficient way to provide employees with payroll and HR information. That surely makes it a no-brainer for most organisations.
3. Revenue growth is boosted with real-time data
The integration of different IT systems was identified as a major problem in The State of Digital HR in 2017 report. Almost half of respondents identified it as the biggest HR digital challenge that their organisation faced. And that’s because real-time data analysis provides a vital competitive and strategic edge in today’s world.
Having advanced workforce management software lets you leverage data to find engagement drivers, empower employees with self-service technology, cultivate future leaders with succession planning, improve talent management and harness predictive analytics. That allows you to become a more efficient, more strategic organisation and to base decisions on actionable workforce data.
4. You can drive customer retention
Workforce management systems can cut the time spent on drawing up rosters by up to 82 percent. That means managers have more time to focus on customers and customer satisfaction. Demand-based rostering also enables you to provide a better service by ensuring that the right people are there to satisfy your customer needs.
With more time to hone strategic goals and improve the culture of an organisation, managers can cultivate a happier, more productive workforce. Happy employees also make for happier customers. It’s no coincidence that companies with high employee engagement scores are 22 percent more profitable and 21 percent more productive, according to Gallup.
5. Avoid any potential compliance issues
50 percent of HR professionals agree that data accuracy is increased when employees enter their own data using self-service technology. That can only be a good thing in a GDPR age, when employee data accuracy is now a legislative requirement.
Regulatory updates, new legislation and territorial differences can all contribute to give HR and payroll leaders a significant logistical headache. Luckily, modern workforce management software is designed to help you avoid compliance disasters. It helps to automate processes, removing the manual inputting that could potentially cost your business millions of pounds.
6. You can enjoy the benefits of a single integrated system
“HR organisations are moving away from a ‘service provider’ mentality to becoming valued talent, design, and employee-experience consultants,” according to the Deloitte Global Human Capital Trends 2016. However, that can only happen if you have the right technology in place.
A single integrated system can collate information from across your organisation to give you real-time feedback, facilitate predictive analytics and support data-driven management. This type of seamless, intuitive technology can help you to embrace the disruptive power of digital technology and future-proof your organisation in an ever-changing world.
Your workforce management software can be the cornerstone of your future business strategy and the most powerful tool you have in your efforts to foster cross-departmental collaboration. Ultimately, it can be the catalyst for a business transformation that will drive your future success.
How can you transform your HR operations? Read Gartner’s Report to find out how a smarter workforce management solution can help your organisation reach new heights!
By Peter Durrant