Why Workforce Management Should Be a Cornerstone of Your HCM Strategy
By Kronos Inc.
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HR technology systems have historically been designed for function and seemingly disparate business needs, such as tracking time and attendance, performance management or even payroll, leading to the separation of what's known as the workforce management and human capital management functions.
It's time to go beyond that thinking and embrace an HCM strategy that focuses on your most strategic and important asset -- your people -- rather than solely on processes. Analysts and industry experts agree: To stay competitive and drive business growth, it's time to think more strategically about your entire workforce; the practices and processes required to effectively manage, engage and retain all your people; and the technology that's needed to put your HCM strategy to work.
In short, it's time that HCM technology offered a unified system to bring the power of workforce management solutions to the practices and processes involved in executing your holistic HCM strategy.
What's Getting Done And How
Workforce management captures that elusive and previously hard-to-quantify space between tracking employee work and understanding overall business performance.
It shines a light on what type of work your people are doing, when they do it, and how they do it. When overlaid with payroll, performance, productivity, or business results -- data that's in the wheelhouse of HCM solutions -- workforce management yields strategic insights about how your organization can optimize your employees to achieve better business outcomes.
Truly integrated workforce management and HCM provides your organization with a tool that's crucial for efficiency and accuracy -- a single employee record. With a centralized repository, authorized users across your organization can access all the available workforce data in one place and see how it all works together, for a single source of truth. A unified platform for the entire workforce can give you a competitive edge by enabling a more complete understanding of business performance.
With integrated workforce management and HCM technology, your HR leaders can work "smarter" to cohesively carry out their many responsibilities:
* Driving performance and engagement;
* Optimizing resources;
* Developing and retaining talent;
* Mitigating risk;
* Managing compliance; and
* Processing payroll accurately and efficiently.
When workforce management is integrated with HCM, your organization has a well-oiled machine working in the background. Where capacity planning and management were previously clunky and inefficient, your users now have the data and insights they need to be more effective in their roles.
Employees Benefit, Too
Business leaders and operational managers aren't the only ones who need a unified HCM and workforce management system. Employees today want control over their work-life balance and expect a consumer-grade experience from their workplace tools. That's why your organization needs to empower employees with the right technology to manage their own day-to-day work environment if you hope to keep the workforce engaged and fulfilled.
For example, a restaurant employee realizes she can't make her shift tomorrow night. She can request a shift swap in a unified HCM and workforce management system, opening the opportunity to other employees who may want to pick up the extra hours. The ability to request the swap and communicate with the shift manager about the change in availability from any computer or mobile device gives her flexibility and control in managing her time. This empowerment leaves the worker feeling more engaged and fulfilled on the job.
HCM can provide those tools, but without a unified solution, your organization is missing an opportunity to maximize engagement. Combining workforce management with HCM gives employees greater visibility into their schedules and greater ability to submit time-off requests, swap shifts, communicate with managers, and track their performance -- while providing HR and managers the data they need to make informed decisions, increase efficiency and drive employee engagement.
A New Mind-set
Achieving a truly unified HCM and workforce management system is not just about checking the box or making the numbers simpler. It's about making your people more effective, more productive and more engaged throughout the employee lifecycle. It's about using all available sets of data that your organization collects on its people to drive more-informed decisions and improve business performance.
People are an organization's most valuable and strategic asset. To stay competitive and drive business growth, it's time to think more strategically about the practices, processes and technology required to effectively manage, engage and retain them.