By planning, scheduling and tracking labor, the overall labor cost of the enterprise is optimized. The goal is to effectively allocate labor so that it has appropriate skills and costs, and performs appropriate shifts and appropriate work. Usually WFM system covers the following functions:
Scheduling and vacation
Labor demand plan
Employee portal and self-service, workforce management system，such as shifts, vacations, etc.
WFM extends to basic organization and personnel management, and then enters the field of HCM software; while other HCM software focuses on career development, performance evaluation, succession planning, recruitment tracking, etc., which are typical "white-collar HR" functions, and generally do not include In the WFM system.
Traditional large and medium-sized ERp suite HRMS such as SAp, Oracle/peopleSoft, and Infor/Lawson have modules for attendance and shift scheduling. However, due to the high total cost of ownership of such systems, when HR management for labor-intensive enterprises These large-scale HRMS have certain limitations in terms of function specificity and business rationality. WFM with labor management as the main function appeal has become a unique genre in the human resource management software family.
There are roughly three schools of WFM software vendors, one is HR software vendors for small and medium labor-intensive enterprises, the other is comprehensive WFM software vendors developed from Time & Attendance systems, represented by Kronos, and the third is Workforce management solutions for specific industries or businesses, such as Aspect in the call center field, Aladtec in the field of public utilities (public security, fire protection, police, medical emergency, etc.).
From the perspective of the HCM software vendor market, after the leading HCM software companies SAp, Workday, Oracle, and ADp (Microsoft may be listed here because of LinkedIn), Ultimate is ranked sixth, Kronos seventh, and eighth Ceridian is an important player in WFM, and its market value surpasses talent management software vendors; moreover, this year Ultimate and Kronos also merged to form an HR software company with a market capitalization of $22 billion, catching up with Workday.related articles: