A Workforce Management (WFM) strategy is an organization’s high-level, tactical plan for building an effective workforce management program designed to meet specific business goals and maximise the impact of its labour force.
Creating a Winning WFM Strategy
There are several processes involved in developing a successful WFM strategy.
The cornerstone is a strong business case to justify the cost of implementing a workforce management system. The business case should also outline the potential benefits and weaknesses of several workforce management solutions. A scorecard is also an essential part of developing your WFM strategy. Your scorecard outlines KPIs you can track the progress of your WFM strategy against.
Most importantly, to develop a winning WFM strategy, you need to understand how your current workforce management processes function. This will in turn help you understand what you need to do to prepare for new processes or WFM tools. Finally, a WFM strategy must include a strategic roadmap that aligns your workforce management solution with the unique goals and objectives of your organization.
The Benefits of a Winning WFM Strategy
A well-crafted workforce management strategy can be a powerful tool. It can help you improve employee productivity, engagement and retention, making your workforce more productive and reducing labor costs. A holistic strategy takes your entire WFM process into account. This can range from WFM software implementation to training and absence management to forecasting, scheduling and more> A winning strategy can help you optimize your approach and make your goals easier to achieve.