The recent advances in technology have brought about a wave of changes in society and some changes that specifically deal with how businesses conduct themselves across the globe. Now, businesses can utilize technology to more efficient and more intelligent with how they handle money and employees. Here are all of the facts and benefits of using workforce management software.
A Deloitte Operations Survey was conducted over the past couple of years and it has revealed some interesting results in regards to how businesses benefit from using workforce management software. First off, nearly 49% of respondents said they have a formal decision-making process for classifying employees and independent contractors. However, this formal process can easily be handled by workforce management software.
Other results from this survey reveal that the level of satisfaction with current payroll services outsourcing arrangments is really high in the United States with a 72% satisfaction rate. Finally, just about 86% of respondents said they are using at least one type of technology to support workforce management. Here are all of the true benefits that come from using this type of software.
Keep Your Employees Happy And Engaged With Workforce Management
Employee retention is an absolutely huge problem across the United States. Every year nearly $11 billion is lost because of employee turnover. So this is one benefit of using workforce management software, keeping employees happy and keeping employees in your business.
Almost 60% of all organizations view employee retention as a very serious problem. This is because it is hard to keep the workforce engaged. A recent survey has revealed that almost 51% of all the workers in the United States are fully engaged and happy with the work. This means that half of all workers in the United States do not fully like their job!
The right workforce management tool, workforce management solution, and workforce management system can really help businesses out with getting people engaged. It can monitor and track their work progress and can also let them voice their opinions to help create a great work culture. Just about 87% of organizations cite culture and engagement as one of their top challenges, and 50% call the problem very important.
In a survey by training company Fierce Inc., 86% of respondents blamed lack of collaboration or ineffective communication for workplace failures. Do not let this hurt your business. All you need is the right software and you can properly handle your employees and save money in the process.
Properly Handle Employees And Save Money With Workforce Management
A 2013 report conducted by Gallup found that unhappy workers cost the United States economy between $450 and $550 billion in lost productivity each year. This type of lost money can really sink a business and that is why utilizing a software that can manage your employees is a great thing to have on your side. Be sure to find the right system that can handle all of your problems!
In Fiscal Year 2015, the US Labor Department’s investigation of the misclassification of employees as independent contractors recovered more than $246 million in back wages for more than 240,000 workers. According to one study, around 50 percent of organizations experienced compliance issues within the last year. These are problems that can be avoided which means you can seriously save your business some money!
In Conclusion
Every single year, there are a large number of people that leave their jobs because they feel that they are not properly valued and are not happy. Avoid dealing with these problems by simply using the right software for workplace management and communication. This can go a long way for your company!
