Companies are turning to Workforce
Management software to streamline processes and foster a culture of
self-service, open communication and teamwork, new study
says
Companies looking to enhance employee experience (EX) and
maximize the performance of increasingly agile workforces are
driving advances in workforce management software, according to a
new study from Ventana Research, the software research business of
Information Services Group (ISG) (Nasdaq: III), a leading global
technology research and advisory firm.
The 2024 Ventana Research Buyers Guides for Workforce Management
note the focus on EX has grown steadily in recent years amid worker
demands for greater flexibility and a tight labor market. At the
same time, enterprises are challenged by workplace logistics and
the need to optimize labor. These dynamics continue to impact
organizations, particularly enterprises with substantial numbers of
hourly workers like those in retail, manufacturing, healthcare and
hospitality, the study says.
“Workforce management software providers are paying attention to
what is really impacting workers and those that manage them,” said
Matthew Brown, director, Human Capital Management Research, at
ISG’s Ventana Research. “They are developing and delivering
capabilities that build trust and confidence in technology and its
ability to seamlessly integrate into daily processes and behaviors
in a way that feels additive more than ever before.”
At its heart, workforce management software is like “the
supportive backbone of a company,” the study says, offering a suite
of tools that streamline processes and foster a culture of
self-service, open communication and teamwork.
The key components of today’s workforce management software are
smart forecasting, agile scheduling, comprehensive absence
management and precise time and activity tracking. By ensuring the
right people with the right skills are in the right place at the
right time, organizations can efficiently and profitably meet
customer needs and business demands.
“For business leaders, workforce management is a dynamic puzzle
that involves understanding not just who is available but who works
best together, how to manage staffing levels and how to leverage
diverse talents, including those of gig workers. It’s about seeing
both the big picture and the fine details,” Brown said.
Software providers continue to integrate AI and ML capabilities
into their workforce management products, the study says. Such
capabilities will permit scheduling that benefits both employee and
company, enable seamless fulfillment of time-off requests balanced
with customer needs and provide virtual assistants to improve
efficiency and job satisfaction. Time recording will be enhanced
with finger scans and facial recognition, and advanced analytics
will enable managers to accurately forecast labor demand.
Mobile-first product strategies are the norm in workforce
management software, the study notes, with advanced mobile
capabilities increasingly connecting workers with targeted learning
opportunities that make them eligible for certain shifts or jobs as
part of normal workflows.
Workforce Management Suites
The 2024 Ventana Research Buyers Guide for Workforce Management
Suites assesses 10 software providers – ADP, Dayforce, Infor,
Oracle, Quinyx, Replicon, SAP, UKG, Workday and WorkForce Software
– that offer comprehensive suites including activity and task
management, analytics, collaboration, time-clock support, mobility
and integrations with enterprise applications including human
resource, financial and business productivity platforms.
The research ranks ADP atop the overall list, followed by Oracle
and UKG, all of which are designated Leaders due to their top-three
ranking.
Workforce Management Basics
The 2024 Ventana Research Buyers Guide for Workforce Management
Basics evaluates 15 providers – ADP, BlueYonder, Dayforce, Infor,
Oracle, Paychex, Paycom, Paycor, Quinyx, Replicon, SAP, UKG,
Workday, Workforce Software and Zebra – that provide basic
timekeeping and scheduling tools. ADP, Oracle and Dayforce were
ranked one through three overall to earn a Leader designation.
"The requirements for workforce management and support of an
hourly-based workforce have historically eluded the portfolio of
applications from HCM providers,” said Mark Smith, partner,
Software Research, at ISG. “This research sets a new standard for
evaluating software providers for any sized enterprise no matter if
they need a suite or if the basics meet their requirements.”
The Ventana Research Buyers Guides for Workforce Management are
the distillation of more than a year of market and product research
efforts. The research is not sponsored nor influenced by software
providers and is conducted solely to help enterprises optimize
their business and IT software investments.
Click on Workforce Management Suites Buyers Guide and Workforce
Management Basics Buyers Guide to read executive summaries of the
reports. The complete reports, including provider rankings across
seven dimensions of product and customer experience and detailed
research findings on each provider, are available by contacting
Ventana Research.
About Ventana Research
Ventana Research, part of Information Services Group (ISG),
provides authoritative market research and coverage of the business
and IT aspects of the software industry. It distributes research
and insights daily through the Ventana Research community, and
provides a portfolio of consulting, advisory, research and
education services for enterprises, software and service providers,
and investment firms. Its Ventana On-Demand (VOD) service provides
structured education and advisory support through subject-matter
experts. Ventana Research Buyers Guides support the RFI/RFP process
and help enterprises evaluate and select software providers through
tailored Assessment Services and Ventana Research’s Value Index
methodology. Visit www.ventanaresearch.com to sign up for free
community membership with access to research and insights.
About ISG
ISG (Information Services Group) (Nasdaq: III) is a leading
global technology research and advisory firm. A trusted business
partner to more than 900 clients, including more than 75 of the
world’s top 100 enterprises, ISG is committed to helping
corporations, public sector organizations, and service and
technology providers achieve operational excellence and faster
growth. The firm specializes in digital transformation services,
including AI and automation, cloud and data analytics; sourcing
advisory; managed governance and risk services; network carrier
services; strategy and operations design; change management; market
intelligence and technology research and analysis. Founded in 2006,
and based in Stamford, Conn., ISG employs more than 1,600
digital-ready professionals operating in more than 20 countries—a
global team known for its innovative thinking, market influence,
deep industry and technology expertise, and world-class research
and analytical capabilities based on the industry’s most
comprehensive marketplace data. For more information, visit
www.isg-one.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20240402087939/en/
Press: Will Thoretz, ISG +1 203 517 3119
will.thoretz@isg-one.com
Julianna Sheridan, Matter Communications for ISG +1 978-518-4520
isg@matternow.com
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