GWFM research says “There are No Great Workforce Management (WFM) Tools in IT Industry so far”, 20 Billion USD opportunity exists. Whereas most of them serve bits and pieces of sub-functions but no comprehensive solutions provided including SAP, Oracle, and other tools.
Innovation is a journey, not a destination, investing in product research is essential especially for WFM product, as business landscape and scenario is changing, workforce and workplace is changing, new model of workforce planning is essential hence right tools are essential to align with the new business growth and upcoming opportunities. During my research since last 5 years interacting with most of the Operation leaders, CXOs, HR and WFM Professionals discovered that still 79% of midsize and big enterprising organizations use spread sheets. Still there are no proper tools to facilitate manual interventions in sub functions such as forecasting, demand capturing , talent supply management with roll-off , rotation eligibility, out-rotation window, prioritizing on high risk, medium and low-risk accounts and projects, ensuring to take right decisions on the right resources for right projects, accounts, and right costing. Cost per employee and revenue per employee is not captured in most of the organizations as there is no proper mechanism. ITes , BPO, and Call center Industries have got better tools and more than 100 best tools available for each sub-function to perform with better metrics. Good internal WFM products built within the organization like IBM, KPMG and other few companies built their own required automation. IBM has got one of the best tools in the market, highly enterprising recently they are already on Cloud, Mobile, Analytics, and AI facilitating very comprehensive people supply chain management globally.
But IBM is not yet offering their WFM tools outside the organization. Big time for IBM to start offering their IBM WFM Enterprising tools to market, which can give huge revenue opportunities.
KPMG has worked very hard to design its own WFM enterprising tool for their organizations’ need, which works very well for their consulting business and complete people supply chain management . Infact, there are no WFM tools designed for consulting industries so far in the market, it would be a big game changer if KPMG offers WFM product for rest of the consulting players.
Big player like SAP and Oracle have not thought further innovation and sub function maturity building and effectiveness and yet to take a deep dive into IT companies people supply chain management, most of their tools serve only core HR functions and creating user experience.
I feel big time effort is required to align with business need and come out with a new innovation in WFM systems. Creating an impact on business, ROI and bringing value to business growth. Most of the current WFM products serve the basic usage and Garbage in Garbage out process. High time for better WFM systems aligning with the business function and uplift the peak performance of the organization. Aligning the Workforce Strategy with Business Growth Priorities Through Scenario Planning, Risk Management and Workforce Analytics. Digital disruption is influencing in replacing the Human Resources, global organizations are called urgently to correct their workforce strategy to respond to the rapidly changing economic system that need for strategic workforce management. The changing demographic of employees and roles, skills, the ability for organizations to remain globally competitive and the development of Workforce Planning & Development Standards demonstrate this demand to ensure you have the workforce you need for the future to meet your business demands in product and services. While flexible and contingent work arrangements are on the rise, rapid shifts in technology, unpredictable economical climates, impacting organizational structures and employee expectations and attitudes are also among the recent workforce trends impacting future workforce and business strategy.
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Author: Shivakumar Rudrappa Ph.D