ALERT

[LAST CHANCE] Data Layer: Modern Business, Defined

Workforce Management (WFM)

Definition - What does Workforce Management (WFM) mean?

Workforce management (WFM) is the application of information technologies in business, or the use of applications and other products to analyze, evaluate, and optimize workforce systems.

Techopedia explains Workforce Management (WFM)

WFM is often seen as a component of enterprise resource planning (ERP) systems, as part of overall human resource management.

A wide variety of applications and software products help human resources employees to manage a workforce.

Common elements of WFM include:

  • Payroll and benefits resources

  • Time and attendance tools

  • Performance management components

  • Scheduling tools as well as other

  • Resources for recruiting and talent acquisition

In general, the full range of workforce management tools on the market help those responsible for workforce management to make the right decisions, and to look at a bird’s eye view of the workforce to determine what's going on, and how things can be optimized.

Although these kinds of tools have innovated the human resources industry, some critics note the limitations and restrictions of these tools in actually projecting outcomes.

The best strategies involve a combination of workforce management tools for analysis, and active management, which involves significant person-to-person interaction.

Techopedia Deals

Connect with us

Techopedia on Linkedin
Techopedia on Linkedin
Tweat cdn.techopedia.com
"Techopedia" on Twitter


'@Techopedia'
Sign up for Techopedia's Free Newsletter!

Email Newsletter

Join thousands of others with our weekly newsletter

Resources
The 4th Era of IT Infrastructure: Superconverged Systems
The 4th Era of IT Infrastructure: Superconverged Systems:
Learn the benefits and limitations of the 3 generations of IT infrastructure – siloed, converged and hyperconverged – and discover how the 4th...
Approaches and Benefits of Network Virtualization
Approaches and Benefits of Network Virtualization:
Businesses today aspire to achieve a software-defined datacenter (SDDC) to enhance business agility and reduce operational complexity. However, the...
Free E-Book: Public Cloud Guide
Free E-Book: Public Cloud Guide:
This white paper is for leaders of Operations, Engineering, or Infrastructure teams who are creating or executing an IT roadmap.
Free Tool: Virtual Health Monitor
Free Tool: Virtual Health Monitor:
Virtual Health Monitor is a free virtualization monitoring and reporting tool for VMware, Hyper-V, RHEV, and XenServer environments.
Free 30 Day Trial – Turbonomic
Free 30 Day Trial – Turbonomic:
Turbonomic delivers an autonomic platform where virtual and cloud environments self-manage in real-time to assure application performance.