| Workforce Management (WFM) encompasses all | | | | and the assortment and extent of human |
| the responsibilities for maintaining a | | | | resource activities including recruitment and |
| productive and content labor force-a | | | | selection, classification and compensation, |
| company's most valuable asset. It is | | | | training and development, performance |
| organizing an accountability framework that | | | | management, and retention. |
| ensures that a department's strategic | | | | |
| priorities and objectives are administered in | | | | Managing a work force is a complex job. In |
| an efficient and cost effective way. | | | | addition to the human resource factors, there |
| | | | are numerous aspects dealing with manpower, |
| Workforce management is sometimes referred to | | | | accounting and finance that must be |
| as Human Resource Management Systems, or even | | | | considered. Human resource management |
| the larger Enterprise Resource Planning | | | | budgets, committees, planning activities, |
| systems. It may include payroll and benefits, | | | | information systems and decision support |
| human resource, time and attendance, career | | | | systems have been developed to assist in |
| and succession planning, talent management | | | | fulfilling your personnel management |
| and/or applicant tracking, learning | | | | responsibilities. |
| management and/or training management, | | | | |
| performance management, and forecasting and | | | | Workforce management is important to ensure |
| scheduling. | | | | that an organization has sufficient and |
| | | | qualified human capital to accomplish its |
| Workforce management is the strategic | | | | mission. It is crucial to have the right |
| configuration used in order to replenish the | | | | quantity of people in the right places |
| organization's business processes with the | | | | equipped with the right skills at the right |
| right quantity and specialization of human | | | | times. Because all employers compete for |
| capital. Its methodical process include | | | | employees from the same labor pool, workforce |
| analyzing current workforce, figure out | | | | management may be integral to persuade, |
| future workforce essentials, and enforcing | | | | employ and retain the talent needed to serve |
| business resolutions to attain the | | | | the clients. |
| organization's mission, vision, goals and | | | | |
| objectives. | | | | Companies that neglect the vitality of |
| | | | implementing a strategic approach to |
| Workforce management should be versatile, | | | | workforce management leave themselves exposed |
| spontaneous, and in line with the | | | | to tangible and costly business risks. |
| organizational strategies that are influenced | | | | Without its application, proactive |
| by economic conditions. As a leader, business | | | | organizations would ineffectively manage and |
| partner, and change agent, the human resource | | | | forecast human capital across the enterprise. |
| professional is responsible for structuring | | | | |
| and conducting this management. | | | | Human capital is arguably the most important |
| | | | element of business, but many enterprises are |
| Workforce management uses a management tool | | | | not fully in control of the training and |
| that is called workforce planning. This a | | | | planning of their workforce. To achieve |
| comprehensive process that serves as a | | | | successful workforce management, they should |
| manager's blueprint in formulating staffing | | | | acquire technological upgrades and state of |
| decisions based on an organization's mission, | | | | the art facilities to attract highly |
| strategic plan, budgetary resources, and a | | | | qualified talents. And to retain, they should |
| set of desired workforce competencies. | | | | take care of their employees, offering higher |
| | | | than minimal rates, incentives, insurances, |
| Workforce planning is inclusive of strategic | | | | and benefits. |
| planning, turnover analysis, legislative | | | | |
| forecasts, budget projections, and workload | | | | Copyright 2007 Ismael D. |
| projections. This influences the life cycle | | | | |