Workforce Management, which is sometimes referred to as Human Resources Management, is the process of balancing work needs with available resources. It is a planning and accountability framework enabling organizations to ensure that strategic objectives are met in an efficient, cost effective manner, while also balancing fairness in human resource management practices.
Workforce Management Planning topics include but are not limited to payroll and benefits; recruitment and training; performance management; time and attendance, and other Human Resources procedural components such as redundancy, classification, transfers and relocations. Workforce Management enables organizations to align their strategic priorities and objectives with their human resources. The benefits of Workforce Management are realized in cost and time efficiencies. Overstaffing and understaffing both result in time and cost inefficiencies. Understaffing also has the added impact of reducing quality and service and as such, directly impacting revenue. However, when staffing levels accurately meet the work projections, organizations save money and have a happier workforce both of which result in better quality and service to its customers.
To achieve operational efficiency, organizations must be able to measure, track and quickly report time, attendance and expenses. Real-time analytics help organizations to identify non-performing projects, minimize bench time and control expenditures and revenues. Utilizing technology to automate these processes is a great benefit. The ability to access real-time information will help project managers to be more effective. It also enables expedited reporting to customers on project status.
Workforce Management is not simply managing the current labor needs but planning for future needs as well. Contingency planning and succession planning are critical aspects of workforce management. One area of workforce management that has been receiving greater attention recently is disaster planning. Contingency planning is at the heart of disaster preparedness. Disaster planning is not confined to frontline response organizations such as hospitals, but organizations must also plan how they will continue to run their business in the event of a disaster.