Workforce Management (WFM) is a strategic approach to optimizing an organization’s most valuable asset: its employees. It encompasses a range of practices aimed at ensuring that the right number of employees with the right skills are in the right place at the right time to meet operational goals. Effective workforce management integrates various functions such as scheduling, time and attendance tracking, performance management, and labor cost control.
For example, a manufacturing company might use WFM software to forecast demand, create efficient employee schedules, and track productivity. By doing so, the company ensures that it has adequate staffing levels to meet production targets while minimizing overtime costs.
Workforce Management is critical in enhancing productivity, reducing operational costs, and improving employee satisfaction. It leverages data and analytics to make informed decisions about staffing and operational efficiency.
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