Workforce Management Featured Article
Workforce Management Market Expected to See Strong Growth
The variables to manage inside the typical contact center tend to focus on processes, key strategic service delivery goals and human management. The agent base is often touted as the most valuable asset within the customer service division, but how do you effectively drive key initiatives among of team of individuals with a variety of skill-sets, education and talents? The best answer is workforce management.
To that end, workforce management solutions as an industry continues to lend value to the contact center industry. In a recent Digital Journal release, we gain access to a deeper dive into the workforce management solution industry as a whole, with an examination of the benefits, implementation strategies, leading providers and more. One thing is certain, small- to medium-sized businesses (SMBs) tend to continue to use conventional methods when tracking and maintaining their workforce – pointing to the need to automate.
One of the key benefits to workforce management is the ability to automate a number of key processes involved in keeping employees on track. The solutions are used to reduce labor expenses, improve the utilization of the workforce and optimize business performance. The automation of workforce management tasks allows for a reduction in the amount of time necessary to manage time calculations and eliminates human error. It also ensures policies are implemented and updated, enabling organizations to run complex analytics to be constantly improving.
As an industry, workforce management is segmented according to product type, solution, vertical and region. When evaluating from the product perspective, workforce management is segmented into software, hardware and service. Software can then be further segmented into on-premise or cloud-based. As a solution, workforce management is segmented by analytics, absence, task management, holiday management, scheduling, budgeting and forecasting, scheduling optimization and time and attendance.
Overall, the market is expected to experience healthy growth due to the increasing number of SMBs that need to move from a manual process into one that leveraging automation. There is also a growing population of companies in emerging markets that are demanding access to key workforce management solutions. The market overall is dominated by North America, with Western Europe following in second place. Significant growth is also expected in India and China as changing work dynamics are driving the demand for key workforce solutions.
The growth of the workforce management market is also expected to be driven by the increasing adoption of cloud-based solutions and the penetration of smartphones across varying markets. Plus, the benefits associated with tracking and maintaining the workforce in an enterprise are helping to generate awareness and therefore, positively affect demand.
Edited by Alicia Young