A Definitive Guide to Workforce Management

Components of workforce management

The essential components of a workforce management system are:

• Scheduling and time tracking 

While some workplaces have a rigid schedule and time tracking system in place, there are many which have flexible schedules. In most cases, the management may prefer to have a fixed scheduling system in place as it is easy to monitor. 

But, the current generation of employees prefer to have a flexible schedule that gives them the freedom to work during their most productive hours. 

In this case, the workforce management system brings a balance between the two extremes such that the employees are satisfied and business needs are met. 

• Budgeting

 It is a vital factor that will have a direct impact on employee performance. An effective workforce management system needs to create a transparent remuneration system. Employees need to have the satisfaction that their pay reflects their efforts, expertise and performance.

• Employee Performance Evaluation

 Employee evaluation is one of the most important components of workforce management. There should be a robust system in place to evaluate an employee’s skills and abilities and identify the gaps if any. Also, there should be career and skill development programs that help employees upskill themselves with advancements in their domain.

Why effective workforce management is necessary

The right workforce management system provides you with detailed insights on the number of employees required to complete a project/assignment and their ability to finish the project within a specified time. The system also facilitates tracking of employees' daily performance. This reduces the chances of overspending or any delay in project completion. 

What is workforce management software/solution?

A WFM software can help a business manage different aspects of its workforce, including staff scheduling, staff skill/behavioural assessment, and productivity management. It offers a range of tools that simplifies labor-intensive tasks and provides accurate reports on various business metrics.

Workforce management tools offered by MeritTrac

MeritTrac has a suite of assessment solutions and behavioural tests that span across various domains. L&D and training teams can effectively use MeritTrac solutions such as Pariksha, SmartTest, SpeechTrac, Learning Branch, and CodeTrac to build a robust workforce. 

These tests help identify performers in a team, skill gaps and behavioural aptitudes. They also help understand an employee’s job fit, career aspirations and workplace behaviour. All these scientifically-derived data can help the HR plan workforce development programs.

Best practises for workforce management

Workforce management is often like walking a thin line between employee satisfaction and business success. When a company is looking for long-term growth, development and success, it is important to empower the workforce. Here are some best practices that will help you build a stronger workforce in your organisation:

• Make data-based decisions

Whether you are planning a training program, assessing the skills of an employee, transferring an employee to a new team/process, use data to make your decisions. 

Assessments and skill tests can help evaluate an employee’s skills for the specific requirements. The analytics derived from the tests give you a firm foundation to create a training plan or decide on promotions. They also reduce personal bias and prejudice, which is one of the leading causes of attrition in any organisation.

• Give the right task to the right employee

Proper delegation of work ensures that the:

1. Work is completed correctly 
2. Business goals are reached 
3. Employee feels satisfied with having done a good job.

Use scientific tests to evaluate the abilities and aptitudes of an employee while assigning a task, Identifying Talent in Workforce using MeritTrac Assessment Solutions.

MeritTrac offers a suite of assessment solutions that can be used for workforce development. We offer assessment platforms that will help you conduct online assessment tests. 

The scientifically-designed platforms also automatically evaluate the results and give you the analysis of the results obtained. Based on the analytics, you can identify the specific skills and abilities of each employee and also find out their skill gaps.

You can use the results of these assessment tests to:

• Identify employee training needs – 

Use MeritTrac’s cognitive, behavioural, psychometric and domain-based tests to identify employee skills and gaps. Based on the analytics, you can classify them into different groups and plan skill-based training programs. 

MeritTrac’s generic personality test, workplace thinking style test, willingness to learn and other custom-created tests can help evaluate an employee’s workplace style and gauge his/her attitude towards work and workplace.

• Plan succession – 

MeritTrac’s Leadership Style Questionnaire is designed by our experts based on Robert R. Blake and Jane Mouton’ managerial grid leadership model. This questionnaire will help you identify an employee’s approach to leadership and capabilities.