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HRM Review Magazine:
Workforce Management : The New Frontiers
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There is an increasing need for workforce management solutions to effectively address the emerging business needs and workforce challenges in today's global economy. Improving workforce productivity and meeting the corporate objectives are of high significance for ensuring the financial performance of the organization. However, evolving business dynamics such as distributed workforce, outsourcing and extended enterprise, along with business exceptions are creating complex environment for workforce planning and scheduling.

 
 
 

The operational efficiency and financial performance of any organization, both in the short run and long run, depends on effective acquisition, planning, and deployment of human resource. Besides, these functions are crucial for ensuring customer satisfaction and gaining competitive advantage. While understaffing may seriously impact the customer service operations, overstaffing results in extra costs impacting profitability. Further, people with right skills in the right mix should be acquired and deployed to ensure operational efficiency and productivity. Therefore, identifying the optimum workforce mix and schedules through effective planning and scheduling is vital for the success of the organization.

Workforce Management (WFM) is defined as having the right people in the right place to perform the right activities at the right time. WFM process involves planning and scheduling of the workforce integrated with time and attendance management. Adopting the principles and technology of WFM prepares the organizations to effectively address their customers' needs at anytime.

 
 
 

HRM Review Magazine, Workforce Management, WFM, Global Economy, HR Transactional Systems, Multiple Communication Channels, Corporate Regulations, Time Management, Decision Making Process, Corporate Goals, Financial Services, WFM Applications, Human Capital Management, Globalization.