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The Unveiling Of Workforce Management (WFM)

May 29th, 2014 | Posted by Apex Time Solutions in Employee Self Service | Time and Attendance Blog, Workforce Management Software | Workforce Management Software

Every industry has its own acronyms and the software industry is no different, so when a customer recently said we were talking gobbledygook to them-some of ATS programmers and business analysts thought it would be a good idea to unveil some of our industry norms.

Workforce Management Solution

This is merely time and attendance or time tracking software/application that includes some of these modules:

  • Benefit Accruals/Leave Management
  • Employee self-Service
  • Time and Attendance
  • Workforce Planning
  • Workforce/Business Analytics

 Benefit Accruals/Leave Management
Refers to things like; jury duty, vacation or any employee benefit accrual. With ATS self-service module, employees view things like overtime, request shift changes or vacation requests.

Employee Self-Service
Employee self-service (ESS) grants employees access to their personal records to; request vacation, view schedules and accumulated overtime and other leave requests. Employees can view this information from any smart phone or tablet device on any web browser.

Time and Attendance
A method of tracking employee time, this can be done online or through a time clock. A time and attendance system enables an employer to have full control of all employees working hours. It helps control labor costs by reducing over-payments, which are often caused by transcription error, interpretation error and intentional error.

Workforce Planning
This term refers to forecasting and budgeting and is also related to employee scheduling. For example, Employeeautomates the process of creating and maintaining a schedule.

Business/Workforce Analytics
It simply means reporting. For example, you might also hear the following terms: HR Analytics, Data Analytics etc. In short, they are set of fancy words that means reporting or reports.

Workforce Management
Workforce management relates to a host of software applications. It’s important to clarify with your vendor what it is you are looking for. For example ERP, Talent Management and Time and Attendance perform separate tasks and in some instances are not necessarily related. Select a vendor that specializes in one specific area and avoid the “jack of all trades”.

There are so, many acronyms that relates to workforce management so; we created a white paper that unveils a list of workforce management (WFM) acronyms. You can download it for free by going to our website.

The Unveiling Of Workforce Management (WFM)

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