Companies looking to enhance employee experience (EX) and maximize the performance of increasingly agile workforces are driving advances in workforce management software, according to a new study from Ventana Research, the software research business of Information Services Group (ISG) (Nasdaq: III), a leading global technology research and advisory firm.
The 2024 Ventana Research Buyers Guides for Workforce Management note the focus on EX has grown steadily in recent years amid worker demands for greater flexibility and a tight labor market. At the same time, enterprises are challenged by workplace logistics and the need to optimize labor. These dynamics continue to impact organizations, particularly enterprises with substantial numbers of hourly workers like those in retail, manufacturing, healthcare and hospitality, the study says.
“Workforce management software providers are paying attention to what is really impacting workers and those that manage them,” said Matthew Brown, director, Human Capital Management Research, at ISG’s Ventana Research. “They are developing and delivering capabilities that build trust and confidence in technology and its ability to seamlessly integrate into daily processes and behaviors in a way that feels additive more than ever before.”
At its heart, workforce management software is like “the supportive backbone of a company,” the study says, offering a suite of tools that streamline processes and foster a culture of self-service, open communication and teamwork.
The key components of today’s workforce management software are smart forecasting, agile scheduling, comprehensive absence management and precise time and activity tracking. By ensuring the right people with the right skills are in the right place at the right time, organizations can efficiently and profitably meet customer needs and business demands.
“For business leaders, workforce management is a dynamic puzzle that involves understanding not just who is available but who works best together, how to manage staffing levels and how to leverage diverse talents, including those of gig workers. It’s about seeing both the big picture and the fine details,” Brown said.
Software providers continue to integrate AI and ML capabilities into their workforce management products, the study says. Such capabilities will permit scheduling that benefits both employee and company, enable seamless fulfillment of time-off requests balanced with customer needs and provide virtual assistants to improve efficiency and job satisfaction. Time recording will be enhanced with finger scans and facial recognition, and advanced analytics will enable managers to accurately forecast labor demand.
Mobile-first product strategies are the norm in workforce management software, the study notes, with advanced mobile capabilities increasingly connecting workers with targeted learning opportunities that make them eligible for certain shifts or jobs as part of normal workflows.
Workforce Management Suites
The 2024 Ventana Research Buyers Guide for Workforce Management Suites assesses 10 software providers – ADP, Dayforce, Infor, Oracle, Quinyx, Replicon, SAP, UKG, Workday and WorkForce Software – that offer comprehensive suites including activity and task management, analytics, collaboration, time-clock support, mobility and integrations with enterprise applications including human resource, financial and business productivity platforms.
The research ranks ADP atop the overall list, followed by Oracle and UKG, all of which are designated Leaders due to their top-three ranking.
Workforce Management Basics
The 2024 Ventana Research Buyers Guide for Workforce Management Basics evaluates 15 providers – ADP, BlueYonder, Dayforce, Infor, Oracle, Paychex, Paycom, Paycor, Quinyx, Replicon, SAP, UKG, Workday, Workforce Software and Zebra – that provide basic timekeeping and scheduling tools. ADP, Oracle and Dayforce were ranked one through three overall to earn a Leader designation.
“The requirements for workforce management and support of an hourly-based workforce have historically eluded the portfolio of applications from HCM providers,” said Mark Smith, partner, Software Research, at ISG. “This research sets a new standard for evaluating software providers for any sized enterprise no matter if they need a suite or if the basics meet their requirements.”
The Ventana Research Buyers Guides for Workforce Management are the distillation of more than a year of market and product research efforts. The research is not sponsored nor influenced by software providers and is conducted solely to help enterprises optimize their business and IT software investments.
Click on Workforce Management Suites Buyers Guide and Workforce Management Basics Buyers Guide to read executive summaries of the reports. The complete reports, including provider rankings across seven dimensions of product and customer experience and detailed research findings on each provider, are available by contacting Ventana Research.
About Ventana Research
Ventana Research, part of Information Services Group (ISG), provides authoritative market research and coverage of the business and IT aspects of the software industry. It distributes research and insights daily through the Ventana Research community, and provides a portfolio of consulting, advisory, research and education services for enterprises, software and service providers, and investment firms. Its Ventana On-Demand (VOD) service provides structured education and advisory support through subject-matter experts. Ventana Research Buyers Guides support the RFI/RFP process and help enterprises evaluate and select software providers through tailored Assessment Services and Ventana Research’s Value Index methodology. Visit www.ventanaresearch.com to sign up for free community membership with access to research and insights.
About ISG
ISG (Information Services Group) (Nasdaq: III) is a leading global technology research and advisory firm. A trusted business partner to more than 900 clients, including more than 75 of the world’s top 100 enterprises, ISG is committed to helping corporations, public sector organizations, and service and technology providers achieve operational excellence and faster growth. The firm specializes in digital transformation services, including AI and automation, cloud and data analytics; sourcing advisory; managed governance and risk services; network carrier services; strategy and operations design; change management; market intelligence and technology research and analysis. Founded in 2006, and based in Stamford, Conn., ISG employs more than 1,600 digital-ready professionals operating in more than 20 countries—a global team known for its innovative thinking, market influence, deep industry and technology expertise, and world-class research and analytical capabilities based on the industry’s most comprehensive marketplace data. For more information, visit www.isg-one.com.
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