Workforce Management: Why It's Important in 2023
Management is an essential part of many businesses. It's far more than just keeping track of hours, deadlines, and who works at what time. It's about keeping employees happy, motivated, productive, etc. And when the workforce is managed correctly, the profits come along with it.
Workforce Management and Its Importance
It's important to stress that the effects are immediate and obvious when your workforce isn't managed correctly.
For example, if employees aren't happy with their workloads, you will have a very high turnover rate.
Or suppose deadlines keep slipping because workers can't complete all of their tasks promptly without sacrificing quality or safety. In that case, customers will turn against you.
There is a strong correlation between a well-managed workforce and successful businesses. And while it may seem like a no-brainer, managers would need to monitor productivity closely to make sure that nothing slips through the cracks.
But unfortunately, there are plenty of companies out there where oversight is practically nonexistent. For example, one study from the Aberdeen Group found that 79% of companies utilize less than half of their employees' available time. In other words, almost 3 out of every four workers spend a good portion of their day standing around waiting for something to do.
There are several reasons why this management tool is so important:
1. It's about more than just productivity. It's also about employee satisfaction and retention rates. It's true at any company, especially in a service-based industry such as hotels or restaurants. Nobody wants to feel ignored or undervalued, yet this is a common problem among many businesses.
2. When workers (especially hourly employees) aren't correctly managed, deadlines slip by, and quality suffers, resulting in fewer sales, more reworking or corrections, and lost opportunities. And that spells less profit for the business.
3. If the workforce is mismanaged over a long time, it can lead to laziness and complacency (among other things). And while some might argue that this is a good thing for morale, it's far from it: employees who feel underutilized will permanently lose motivation and end up quitting.
4. Employees who aren't adequately managed may eventually turn against your company -- whether intentionally or unintentionally (by speaking out about working conditions with customers or speaking to the press).
Management in the workforce takes time, organization, and patience. In most cases, doing so will improve productivity and quality, but it will also help you save money. After all, if your employees feel satisfied and appreciated, they're less likely to leave for a better opportunity elsewhere. So, suppose you don't have management software that keeps proper track of hours worked and productivity. In that case, it's time to take the necessary steps to implement one (there are several available: some free, open-source, and others set at a price).
Once you've implemented this type of tool, make sure to train your managers on how best to use it. Then, it ensures that they'll realize the benefits, such as accurately tracking their project budgets and seeing where there is room for improvement.
According to Verint, "An automated, unified, enterprise-wide workforce management solution to plan, forecast, and optimally schedule employees to match workload across your customer-serving departments in the cloud." To learn more about workforce management, give them a call.