PAYTECH is the industry's primary source for payroll information. The monthly magazine covers payroll management, technology, new and pending legislation, professional development, and trends shaping the payroll industry and profession. All APA members receive PAYTECH as a benefit of membership, and the magazine is published monthly, except for an August/September combined issue. PAYTECH is available to members in both print and digital formats.
4 Workforce Management Best Practices to Follow Right Now
In a world where the dynamics of work seem to be constantly evolving, a quality workforce management (WFM) system allows us to continue supporting the transformation and growth of the work environment. Many organizations look to centralize processes and balance the work and people management that help stabilize the labor market. While organizations continue to fine tune these processes, we have identified four specific best practices to help with a successful WFM solution. Note that these are recommendations and should be taken into consideration when going through an RFP to bring solutions and revolution to your workspace.
1. Partner With the Right HCM Solution
Identifying a solution that supports your entire organization and the vision to scale is pivotal to the organization’s success. Robust and agile data gathering and the ability to integrate with a WFM solution will enable you to pivot even during the most complex situations. Human capital management (HCM) solutions should allow the end users the ability to help manage their systems an artificial intelligence (AI) space where the end user and AI can connect and grow. If recommendations are permissible, choose a system that can challenge and bring your workforce together in an effective, systemic, and productive way.
2. Evolve With Data Reporting, Analytics
Robust and agile data reporting is essential to learning how your organization adapts, executes, and evolves. Reporting specific metrics and correctly analyzing the data supports the organization’s financial aspects and personnel development, while business acumen provides accurate forecasting. When you’re conducting performance management reviews, how often do you incorporate data analytics to help with career pathing and compensation exploration? WFM is the key to supporting your data analytics and bridging the gap for your labor force.
3. Account for Pay, Labor Management
Many companies don’t consider the importance of pay and labor. However, taking the time to develop and implement a great and scalable payroll and labor management solution is best. Throughout my 20 years of supporting HR, I’ve encountered instances during conversations when pay, wages, and labor were minimized and construed as “payroll is just payroll” or “all timekeeping is the same.” If that were the case, why would there be so many HCM solutions out there competing for your business, or solutions that account for the complexities of wage and pay guidelines and tax reconciliation to make your internal processes more automated and streamlined? Proper system configuration and knowing how the business needs to operate and account for compensation, labor, and wages are critical to help reporting and ultimately the ROI for companies. The miscalculation of wages for employees or the misclassification of your employee base could be the difference between net profits versus an in-depth discussion with the DOL. Take the time to develop and implement a great and scalable payroll and labor management solution as that will save you in the long run.
4. Attain, Retain Talent
Continued focus on people development is essential. Identifying the right resources to hire, and the education and training tools needed to retain quality employees, allows the organization to sustain longevity with its employee base. It also encourages continuous professional growth and development. Utilizing WFM and data reporting can effectively support an organization’s recruiting efforts and talent management for succession planning.
As you continue to assess, evaluate, and resolve your business needs, continue to look at your workforce for internal solutions to help manage your organizational needs. You may be surprised at how the people, data, and the right partner can help you prepare and plan for even the most complex situations.
Kimberly Pool is Director of Payroll at Conns Appliances Inc., and a member of the Board of Contributing Writers for PAYTECH.
NPW 2021 Magical Review
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