Workforce management is a process that maximizes competency and performance level for an organization. The processes comprises activities required to sustain a productive workforce like human resource management, field service management, data collection, budgeting, forecasting, analytics and scheduling. Workforce management is a combined set of processes that an organization uses to optimize productivity of its employees on different levels. It provides collective set of performance based software and tools to support front line supervisors, corporate management, store managers, and workers across distribution, manufacturing, retail and transportation operations.
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The global workforce management market is primarily driven by the increasing demand of cloud based solutions. With the rising cloud based solutions, it has become easier to store data over the cloud and download the data conveniently. Moreover, with the implementation of this system, remote workforce solutions has been made easier. Employees often need access to company information on different devices, be it in home or office, which has become easier with the cloud based solutions. Another important driving factor in this market is the increasing penetration of smartphones and focus on workforce optimization. Workforce optimization is possible through different ways, some of them are time and attendance tracking, performance monitoring, demand prediction, employee scheduling and many others. Rise in demand of smartphones help these function to be carried out with ease anytime and anywhere. Moreover, increasing demand of automation is also bolstering the demand of workforce management market across the world during the forecast period. Automation is likely to help the workforce management by improving accuracy, cutting down the labor costs and mobile access to workforce management solutions.
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Lack of awareness about the workforce management is one of the most important factor restraining the growth of the global workforce management market. Many organization especially small and medium are not intended to implement the software solutions and follows the same traditional methods. Due to the lack of awareness, they are unaware of the benefits of implementing automated workforce management solutions in an organization.
Increasing adoption of workforce management in the small and medium sized organization is likely to be one of the most important opportunities in the global market. Since these organizations are unaware of the benefits of these solutions, it is highly expected to grow in the coming couple of years. Leaning towards human resource analytics is also an important opportunity in the global market. Increasing competition, tight budgets are some of the factors that would increase the demand of software solutions in order to maximize the efficiency of the workforce