User talk:Suman171985

What is WFM ( Work Force Management)

Workforce Management (WFM) is the process of balancing work to be completed with the resources available to complete that work. First, the expected workload must be determined, and secondly resources must be allocated. The amount of work may vary from day to day, or from minute to minute. If the work volume cannot be anticipated, then overstaffing or understaffing results. Overstaffing is costly to the company, while understaffing provides inferior service, and results in customer dissatisfaction. Before determining the staffing level, a company must set objectives for the quality of service it wishes to provide. Workforce management (WFM) is the art of having the right number of skilled people, and supporting resources, in the right place at the right time to meet the desired service levels for an accurately forecasted workload. WFM removes the guesswork from your contact centre planning, by carefully balancing the demands of business activities, staff requirements and your customers' service level expectations with efficient staffing levels. Once the workforce has been hired it then needs to be managed and deployed. According to Gartner, this component of an HCMS should include the following functionality: •	Assignment/scheduling •	Work planning/forecasting •	Team management •	Competency tracking/data collection Real-world solutions also generally include time and labor (sometimes known as time and attendance systems) and potentially payroll functions. In total then, real-world solutions typically contain the following components: •	Assignment/scheduling •	Demand planning/forecasting •	Budgeting and payroll calculation •	Skill gap analysis/competency tracking •	Development, credentialing and remedial training •	Recognition and reward systems •	Time and Labor Workforce Management solutions were historically referred to as Employee Relationship Management solutions by some analysts, though this term is no longer used. Interestingly, the term ‘workforce management software’ has been used historically, by different analysts, to signify different types of software. Specifically, Gartner, Datamonitor, and AMR Research have used the term ‘workforce management software’ to designate both ‘call center workforce management software’ and Workforce Management as defined above. Aberdeen and IDC have used the term workforce management software to designate both Workforce Acquisition (aka Talent Management) and Workforce Management software as defined above. There now appears to be a growing consensus that call center workforce management software is termed ‘Workforce Optimization’ and ‘Workforce Management’ as defined as above, with potentially some variation to include varying aspects of Human Capital Management System.