What is WFM, anyway?
First of all, what does this term mean? WFM stands for WorkForce Management. It is an essential tool to control the dynamics of shifts of companies with many employees and dynamic schedules and ensure the level of service, making sure you have the right person, doing the task in the right place and at the right time, through the management of absences, breaks, vacations, leave and especially ensuring compliance with labour legislation.
The implementation of a WFM solution is known in the international market as the tool that can deliver the highest ROI within the solutions for Human Capital, because of the possible gains in management time, turnover, absenteeism, present and overtime.
However WFM is no longer just a registration system, it is also a system of differentiation and transformation, gaining an increasing importance in the strategic decisions of companies.
To help you better understand the advantages of implementing a WFM system, we have gathered 5 key benefits:
- Increase in productivity
Making tasks simpler and reducing the time spent on each as well as paperwork and red tape can lead to a significant increase in completed tasks per day. This means then you can make the business more efficient and profitable. From a company point of view, freeing up time for what is really important, which can include strategic planning.
- Cost reduction
Due to the Forecast of activities, where we indicate to the client the forecast of personnel needs every shift or every 30 minutes, we create a sizing of the team as faithful as possible to the real needs of the company. The organization of a team is usually expensive for the time it takes, especially when it is necessary to redo it in case of error. In this way, a WFM system prevents more resources from being spent than necessary and makes the task faster and simpler.
- Quality of Life
Another important advantage of using a WFM tool is the possibility to provide employees with a better quality of life with the ability to manage schedules, exchange shifts, request holidays, free days and justify their absences. These practices, carried out with the employee in mind and in maximizing their day-to-day work, may lead to a higher rate of talent retention and a healthy balance between professional and personal life, the work-life balance, which we talked about in our last article.
- Rapid adaptation to atypical scenarios and sudden changes
The WFM system allows for simulating multiple scenarios to manage unplanned situations. This translates into fast adaptability so as not to lose windows of opportunity. In an increasingly competitive market, knowing how to adapt to sudden and more unexpected changes is vital for any company.
- Performance management / Performance monitoring
In addition to assisting in planning a team scale in the most efficient way, a WFM system is also able to provide performance indicators. Employees with different skills cannot be evaluated with the same goals and criteria. Different professions require different evaluation methods and parameters. At the same time, knowing which triggers lead an employee to perform better allows the company to direct individualized training, improving, in the long term, the team’s performance.
So you can see that WFM can be an incredible ally of your company and that it will bring several benefits, from increasing productivity, lowering costs and making the business more efficient and profitable.
Written by Cristina Meireles
Cristina Meireles has a special interest in marketing, psychology, HR and Employer Branding. She has found in WFM a way to improve the quality of life and productivity of employees, being a strong ally in motivational campaigns. She has a degree in Languages and Business Relations from the Faculty of Arts of the University of Porto and is currently attending the masters in digital marketing from ISCAP.