Axsium’s experts like to keep up to date with workforce management trends. And we’re seeing big changes across many industries to keep up with consumer expectations.
Companies that embrace the trends responding to these shifts in customer behavior will be able to cut costs, improve the employee experience, and grow their bottom line. And the workers who will be most successful will be able to adapt to new technology, learn new skills quickly, and do it all within an agile framework.
If that sounds interesting, here are five workforce management trends that are turning business leaders’ heads and attracting the attention of C-suite executives.
Let’s get started:
The use of data analytics has been growing steadily for some time now. Even so, in 2022 we can expect to see a sharp uptick in organizations tracking and leveraging their data. Companies can use data-driven insights to inform decision making, and understand and improve their operations.
This is particularly important for organizations in industries with large workforces and/or multiple locations. Data-driven insights can help reduce overhead costs, optimize employee productivity, manage scheduling, and more. There are a number of excellent workforce management software solutions that are very effective in using this growing trend.
Many of today’s most successful companies have adopted new technology and innovation as part of their core business model—and it’s helping them achieve better results for less money.
That same approach can be applied to workforce management to improve workflow, scheduling, timekeeping, reporting, and analytics.
Talent Acquisition and Retention
High competition in the labor market means that companies need to acquire top talent quickly—and retain them long-term.
The average millennial has a job for three years before hopping into something else. That’s because they’re always on the lookout for what’s next. The challenge is that this trend is causing companies to become reactive, and responding “quickly” isn’t enough.
Companies have to be proactive and offer their employees a slew of opportunities for professional development and growth if they want to retain them and attract new people.
Here are some of the ways of increasing employee retention:
Focusing on Employee Well Being and Happiness
What’s the best way to acquire and retain top talent? Making your employees happy! This not only increases productivity but also reduces the costs of hiring and training that come with high turnover.
How do you increase employee happiness? Provide them with comfortable workspaces, flexible schedules, opportunities for professional development, employee health programs and many other perks.
As companies look to attract the best workers in 2022, they’ll need to offer flexible scheduling options. After all, working parents need time with their families, people get sick, and sometimes life gets in the way.
With a good technical solution that includes scheduling software and time keeping functionality, this part of the work world can be streamlined. You can lower operating costs and give employees greater sense of control over their schedules, which raises morale.
Professional Development Opportunities
Many organizations now offer professional development opportunities for their employees. Whether it’s an online course, a conference, or training days, workplace wellness programs mean businesses recognize the importance of fostering growth in their employees, as well as those employees’ well being.
New Tech and Innovation
New technologies are always changing how we live, work, and play, but in 2022 they’ll be making their mark on how we work together.
As technology continues to progress and transform the way we live and work, emerging technologies like artificial intelligence (AI), machine learning, and robotics will continue to change how companies interact with their people.
Companies will also need to focus on developing a deeper understanding of their employees’ needs in order to engage them, retain them, and develop them. A good workforce management software can help you do that.
To stay ahead of these changing trends, companies can invest in technologies that will help them better understand their people and make smarter decisions that will increase efficiency, productivity, and ultimately the bottom line.
Increased Automation with Artificial Intelligence
AI is playing an increasingly large role in our daily lives. The trend isn’t going to stop—in fact, it’s only going to accelerate.
AI is already assisting humans in everything from driving cars to writing emails. AI is making our lives easier every day. The possibilities of AI in workforce management also continue to open up as technology improves.
Currently, AI-driven automation can help organizations make better decisions as well as free up time for employees to focus on higher-level tasks. Companies are turning to AI for more efficient scheduling, performance management, and talent acquisition.
AI can analyze big data sets much faster than humans, allowing managers to make better decisions about staffing based on predictive analytics. This also helps companies keep up with the consistent fluctuations in demand for services or products.
In addition to this, AI can be used in employee engagement surveys or performance appraisals by automatically analyzing feedback from employees to determine what they want or need in terms of benefits or rewards programs. The right workforce management solution leverages the power of your data to optimize your operations, boosting the bottom line.
Agile and Flexible Workforce
With millennials making up a larger percentage of the workforce each year (and Gen Z not far behind), it’s critical that companies make strides toward becoming more agile if they want to attract top talent. Workers who feel like they have a say in how things get done are happier at work and tend to stay around longer.
In addition, being able to respond quickly when what used to be everyday changes is key in today’s unpredictable environment. You only need to think about the impact the pandemic has had on businesses across the world to see the benefits.
The Future of Work is Here. Are You Ready?
The future today’s workforce trends point towards looks very different. While some of the changes are just a natural progression of our tech-driven world, others may surprise you.
One thing is certain: you’ll need to adapt and evolve if you want your company to stay competitive. And that’s where we come in.
Future-Proofed Workforce Management
Axsium is here to help! Our experts have a wealth of knowledge about WFM innovations and provide workforce management software solutions that can streamline your operations, reduce labor costs, and improve your employees’s day-to-day experience.
Whether it’s a new workforce management technology, innovative outsourced services, or improved employee experience, we can help your organization find the right solutions for this brave new world.
If you’re interested in learning more about how Axsium can help your organization prepare for a successful future, contact us today.