How Workforce Management is Changing Today

Written by: Peter Minkoff

Finding a single factor that makes a successful company is very hard.  We can all, however, agree that a highly engaged and well-managed workforce sets the foundations for all these assets, strategies, and tools meant to push one business past the finish line.

With that in mind, we need to point out that efficient workforce management is a very elusive term that constantly changes and adapts to a new market and grander social circumstances. Let us take a look at some of the most relevant workforce management trends that should help you keep your company on a steady course and help it grow.

Changing role of management

These days, AI and automation are gradually making their way into the HR and manager sectors giving the professionals working in these branches much more free time to deal with and establish bonds with their subordinates on a more personal and emotional level. This comes as a great advantage since, in spite of all benefits, workers in remote positions and hybrid workforce are experiencing a growing sense of isolation and alienation that can’t be effectively addressed through traditional employee engagement activities.

The growing importance of workers' wellbeing

Up until recently, managers used to observe their employees through different metrics like engagement and efficiency. In the post-COVID-19 world, we are going to experience very soon now, these facts will no longer be sufficient to describe their wellbeing and the ability to showcase a good performance at work. That is why more and more companies are actually considering the mental, physical and financial wellbeing of their employees in order to tailor internal management programs to fit their unique personal needs.

Changing compliance requirements

Of course, the business world is not the only aspect of human society that is undergoing tectonic shifts. The governments all around the world are trying to keep up with everything happening around us as well. For instance, the UK is updating the legislation called IR35, which effectively forces the companies using the so-called 'off-payroll' workers to bring them within the new legal frame. The businesses need to pay very close attention to these developments and ensure compliance as soon as possible.

End-to-end software solutions

In terms of the infrastructure, the present-day business world is very complex with a growing number of companies using not only remote and hybrid workforce but foreign employees as well. Keeping a track of all these scattered employees is often performed through different software platforms, which limits the managers’ ability to perform their duties effectively. That is why the entire business landscape is moving in the new end-to-end software solutions that will keep all these resources under the same roof.

Higher churn rates

Yeah, these days it is not that big of a secret that the US is going through a very severe labor shortage that, effectively, blows the churn rates out of the roof. This problem won't go away any time soon which means the business across the board will need to double down on their employee engagement efforts. One-on-one check-ins, higher bonuses, encouraging a higher level of workplace inclusion, and fostering a more strength-based mindset are some of the proposed solutions for this increasingly evident problem.

We hope these few mentions gave a quick look at the current state of workforce management and the forces that will be shaping it in the period ahead. The world around us is changing at a very rapid pace and keeping in mind the issues we have been experiencing in the recent period, making safe long-term assumptions about the future is no longer possible. This means we should take the facts we actually have even more seriously and use them to prepare for the worst. Now, you know where to start.

Related: Best Ways Your Business Can Benefit in 2022