Productivity Remains The Key: Worforce Management Sets New Standards
A new report from IMS Research on the market for Workforce Management Solutions has found that rising labour costs and the continued upward trend in workplace absenteeism are encouraging employers to better manage their staff. Today’s workforce management solutions offer much more than basic monitoring of time and attendance. Project tracking, workforce analytics and scheduling are playing an increasingly important role as employers seek to improve their productivity. IMS Research forecasts the combined market for workforce management solutions in EMEA and the Americas will be worth an estimated $2,753.4 million by 2010.
For most companies, the vast majority of costs are related to the workforce. However, most companies have grossly under invested in workforce management systems and many have no system in place at all. The burning need to control costs is particularly evident within the manufacturing sector where many companies have been forced to transfer all or part of their production overseas in the pursuit of lower labour costs. Increasing globalisation and a widening gap between the availability of qualified workers and the demands of modern manufacturing is making it even more difficult for manufacturers to achieve the production goals and productivity increases they need to meet the demands of their customers. IMS Research analyst Paul Everett commented, “by transfering production overseas, companies are finding it even more difficult to manage their workforce”.
The current crop of workforce management suites are being designed with a range of options, parameters, customisable fields, calculation rules, flexible business rules and in a variety of languages. This in turn is allowing the software to be used with little or no modification across a wide range of industries and countries, a trend Everett views as the backbone of future growth within this market. Everett continues, “the flexibility of today’s software is enabling vendors to deal with industry specific requirements. Already in the healthcare sector, workforce management software is enabling improved scheduling of shift patterns and a reduction in costs often associated with non-productive staff”.
About IMS Research
IMS Research is a supplier of market research and consultancy services on a wide range of global electronics markets. The company is supported by headquarters in Wellingborough, UK and offices in Austin, Texas and Shanghai, China. IMS Research regularly publishes detailed research on electronic security markets, such as video surveillance, access control, intruder alarms and fire detection and suppression. www.imsresearch.com