What is Workforce Management Software or WFM (Quick Guide)

17 minutes read
Discover How Workforce Management Software Can Help You Manage your Hourly Workforce

Highlights

  • Companies with a distributed, hourly workforce need tools that help them manage employee schedules and track working hours effectively.
  • Staying on top of shifts and working hours is crucial to ensure compliance and process payroll accordingly.
  • At EPAY Systems, we offer all-in-one workforce management software to help businesses manage an hourly workforce with time-tracking tools, employee scheduling, payroll processing, and other HR tools. Request a demo to get started!

Managing a distributed hourly workforce is not an easy feat. You need to assign shifts, keep track of employees’ working hours, and stay compliant with a handful of labor regulations. So, if you are wondering what workforce management software or WFM is, let us tell you: it is a great alternative to organize your workforce and streamline all those tasks, boosting your business’s productivity and efficiency.

WFM software is a suite of tools that enables businesses to track employees’ time and attendance, predict future workload so they can staff accordingly, and make sure they are always on top of compliance requirements.

In this guide, you’ll learn exactly what to expect from WFM software, its main advantages, and how to choose the best solution for your organization.

Let’s jump right in!

What Does Workforce Management Software Do? – Components and Features

Workforce management software helps companies manage an efficient workforce, by keeping track of employees’ attendance and work hours, creating schedules, and planning for future demand.

Typically, a WFM solution integrates a variety of tools and modules designed to support HR teams on various tasks. Features and components may vary between vendors, but these are the most common:

Time & Attendance Tracking

With an effective time-tracking solution, businesses can ensure that every employee is getting paid accordingly and fully complies with legal requirements and labor laws. Mobile time-tracking apps are probably the best options available, allowing employees to clock in and out on the go. These time-tracking tools enable employees to easily request Paid Time Off (PTO), get access to their schedule to check out their shifts, and be able to send and receive messages. Also, they can enter time allocated to specific tasks.

Biometric time clocks — whether with fingertips or face recognition systems— are another efficient option that helps you keep track of worked hours, gain real-time visibility into your workforce, and minimize the risk of fraud. 

Employee Scheduling

Creating and managing schedules is key for businesses with an hourly workforce. However, many companies still rely on manual schedules or spreadsheets.

With WFM software, you can get employee scheduling features that help you staff teams accordingly so you can meet customer demands while staying on budget. It also allows you to make quick changes on the fly and reassign shifts if needed.

Regulatory Compliance

Labor compliance is one of those areas where you can’t afford any mistakes. Your business needs to keep up with federal, state, and local laws and regulations — which can be complex and overwhelming.

WFM software gives you peace of mind by helping you stay on top of compliance requirements, including:

  • Wage & hour compliance
  • Safety regulations
  • Affordable Care Act (ACA) compliance
  • OSHA standards

Reporting & Analytics

WFM software allows you to have a big-picture perspective of your hourly workforce.

Built-in reporting and analytics tools give you real-time visibility into workforce productivity, helping you identify issues or inconsistencies, and ensuring you always have documentation at your fingertips for audits or potential lawsuits.

Labor Budget Tracking

Keeping your costs under control is a big challenge when managing an hourly workforce.

With an integrated labor budget tool you can easily track and manage your expenses and job costs. You can even set real-time alerts to make sure you always stay within budget.

Learn About the Advantages of Using a Time-Tracking Solution to Manage a Distributed Workforce

Top 7 Benefits of Using Workforce Management Software

For businesses managing an hourly workforce scattered across different locations, clients, or departments, implementing WFM software can offer numerous benefits and make your business more efficient.

Here are 7 key advantages of using a WFM:

1. Increased Productivity

WFM software helps you allocate resources more efficiently, based on demand and workload. It ensures that the right people with the right skills are assigned to specific tasks, reducing idle time and improving overall productivity.

2. Cost Savings

By optimizing schedules and automating time and attendance tracking, WFM software helps you control labor costs. It ensures that your employees get paid for the actual hours worked, minimizes overtime, and helps you manage workforce expenses more effectively.

3. Improved Employee Satisfaction

WFM software allows for more flexible scheduling, taking into account employees’ preferences and work-life balance. This can lead to increased job satisfaction, better morale, and lower turnover rates.

4. Accurate Time and Attendance Tracking

WFM tools automate time and attendance tracking, reducing the likelihood of errors associated with manual data entry. This ensures accurate payroll processing and compliance with labor regulations.

5. Enhanced Compliance

WFM software helps your business stay compliant with labor laws and regulations. It automates the tracking of employee work hours, breaks, and other relevant data, reducing the risk of non-compliance and associated penalties.

6. Data-Driven Decision-Making

Analytics and reporting features within your WFM software can give you valuable insights into how your business works. Managers can analyze workforce trends, identify areas for improvement, and make informed decisions to optimize operations and resource allocation.

7. Streamlined Communication

WFM tools often include communication features that centralize information related to scheduling changes, policy updates, and other important announcements. This streamlines communication and ensures that all employees are on the same page.

How to Choose the Best WFM Software for Your Business

When it comes to finding the perfect WFM software for your business, it’s crucial to consider your specific needs and objectives.

Here are a few steps to guide your decision-making process:

  • Define your requirements. Clearly outline your business goals, challenges, and specific requirements for WFM. Identify the key features and functionalities you need, such as scheduling, time and attendance tracking, reporting, and compliance management.
  • Consider scalability. Choose a WFM solution that can scale with your business. Consider both your current workforce size and potential future growth. Scalability ensures that the software remains effective as your organization expands.
  • Integration capabilities. Check the compatibility and integration capabilities of the WFM software with your existing systems, such as HR or payroll. Or, even better, choose a WFM solution that integrates other HR functions as well.
  • Mobile accessibility. Ensure that your platform offers mobile applications or a responsive design, enabling employees and managers to access the system from anywhere, at any time.
  • Support and training. Assess the level of support and training provided by the WFM vendor. Adequate training and ongoing support are essential for successful implementation and user adoption.

Request a Demo of EPAY: WFM Software that Adapts to You

EPAY Systems is not just workforce management software. It’s a full suite of HR tools to help you organize, manage, and pay your hourly workforce.

Let’s take a tour to discover some of the main features of EPAY’s WFM software, which can also help you handle payroll and other HR tasks:

EPAY’s Workforce Management System Features

Time Tracking & Labor Management

EPAY WFM delivers a cloud-based time-tracking system specifically designed for distributed workforces, offering all the flexibility you need to:

  • Set up flexible pay rules and pay groups (for example, for different work site locations)
  • Monitor overtime
  • Keep track of labor budgets and job costing
  • Meet wage and hour compliance

Online Scheduling System

With EPAY’s employee scheduling system, you can ensure that every position is filled by the right people, considering skills, credentials, and workers’ availability.

  • Match job requirements with qualified people
  • Identify attendance issues
  • Post schedules and allow employees to make changes and sign up for open shifts

Payroll & Tax Management Solution

Handling payroll is often a separate task that is not necessarily offered by a WFM software provider. EPAY’s payroll processing system alleviates the administrative burden for your HR team by automating some of the most time-consuming tasks of payroll processing, like calculating taxes and deductions.

Here’s what you can do with this payroll solution:

  • Calculate taxes, union dues, and overtime effectively
  • Create settings for recurrent payments and send payments automatically
  • Calculate deductions, retroactive benefits, refunds, and more
  • Provide on-demand payment options to allow employees to receive payments as they earn them
  • Configure pay statements for specific compliance requirements

Benefits Administration

EPAY’s benefits administration solutions help you ensure that your benefits programs are running smoothly and meeting all the legal requirements. That’s especially important when it comes to keeping up with Affordable Care Act (ACA) compliance and managing all aspects of COBRA benefits administration.

HR Management

Not every WFM software has this option, but EPAY does! The HR management module allows you to handle a series of administrative tasks such as:

  • Capturing and digitally signing new hires’ documentation
  • Simplifying the benefits enrollment process
  • Self-service portal for employees, so they can keep their personal information updated, receive messages from supervisors, view pay statements, and manage benefits and PTO.
  • Providing onboarding training tasks for new employees
  • Managing employee records, protecting sensitive information, and generating reports

WFM Software Final Thoughts

Businesses managing an hourly workforce need tools adapted to their specific needs and requirements. WFM software provides time-tracking and employee scheduling solutions, but its capabilities can vary from one vendor to another.

At EPAY Systems, we offer much more than just Workforce Management Software — we provide a full suite of HR solutions, ranging from employee scheduling to payroll. Choose EPAY to manage your entire workforce effectively and ensure every employee gets paid accurately and in compliance with labor regulations…all from a single platform!

Ask for a demo and start optimizing your business today!

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