Workforce Management Software vs Workforce Planning Software
When it comes to managing a workforce, there are two main categories of software to choose from. Workforce Management (WFM) software and Workforce Planning (WFP) software. Although the names sound similar, the functionality of each type of software is quite different. In this blog post, we will provide a factual, unbiased comparison between the two, to help businesses understand which one suits their needs.
What is Workforce Management Software?
Workforce Management software, also known as WFM software, is designed to help businesses manage their day-to-day workforce operations. This type of software typically includes functionalities such as employee scheduling, time and attendance tracking, shift management, and task delegation. The goal of WFM software is to optimize workforce utilization, reduce labor costs, and improve efficiency.
What is Workforce Planning Software?
Workforce Planning software, also known as WFP software, is designed to help businesses plan and forecast their future workforce needs. This type of software typically includes functionalities such as demand forecasting, scenario planning, workforce analytics, and workforce modeling. The goal of WFP software is to help businesses make data-driven decisions when it comes to hiring, retaining or reducing their workforce.
Key Differences
The key difference between WFM software and WFP software is their focus. WFM software focuses on the present, and WFP software focuses on the future. WFM software is designed to help businesses manage their current workforce by optimizing workforce utilization, reducing labor costs, and improving efficiency. On the other hand, WFP software is designed to help businesses plan and prepare for future workforce needs by making data-driven decisions around hiring, training, and workforce reduction.
Another key difference between the two is the type of data they use. WFM software typically uses real-time data such as employee availability, shift schedules, and attendance records. WFP software, on the other hand, uses historic and future data such as employee demographics, business growth projections, and industry trends.
Which one is best for your business?
The answer to this question depends on your business's needs. If you're looking to optimize your current workforce operations, then WFM software is the right choice. On the other hand, if you're looking to plan for future workforce needs, then WFP software is the way to go.
In conclusion, both WFM software and WFP software are essential tools for managing a workforce effectively. If your business wants to be successful, it needs to focus on both present and future workforce needs. By using WFM software and WFP software in tandem, businesses can improve their workforce utilization, reduce labor costs, and make data-driven decisions around hiring, training, and workforce reduction.