What are some innovative ways to optimize your WFM budget?

Adapt to changing customer expectations by offering flexible work arrangements. Enable remote work using cloud-based WFM software, video conferencing, and collaboration tools. Enhance workforce agility, diversity, and creativity, Eliminate manual tasks, reduce errors, and enhance accuracy and consistency...

we should use the method of Data-driving decision making by skills-driving scheduling and activity-based cost ( this is based on the industry itself ). data gathering and then analysis will help. besides, we need to create internal partners and enhance the employee involvement in this area, specially line supervisors and managers, they should be part of any further decisions affect their financial performance in future.

Implementing predictive analytics helps in analyzing historical data to identify patterns, enabling more accurate demand forecasting. By understanding peak periods and low-demand times, you can optimize staffing levels accordingly, avoiding unnecessary costs. Real-time data analytics further allows for agile adjustments to staffing schedules based on current needs, ensuring optimal resource allocation. Additionally, utilizing machine learning algorithms can enhance predictive capabilities, providing insights into employee performance and identifying areas for efficiency improvements. This data-driven approach empowers organizations to make informed decisions, maximize workforce productivity, and ultimately optimize their WFM budget.

Leverage data and forecasts to predict staffing needs, then offer flexible work options like remote or part-time, attracting top talent while saving on office space. Upskill your team to tackle diverse tasks, reducing reliance on external hires. Automate repetitive processes like scheduling and reporting, freeing up employees for higher-value work. Consider AI-powered WFM tools for intelligent scheduling and resource optimization. Foster collaboration and knowledge sharing to maximize talent across teams. Don't forget happy employees! Invest in engagement and recognition to boost morale, productivity, and retention. Remember, the best approach fits your unique needs.

Analyze historical data on call volume, chat inquiries, email traffic, and customer support needs. Use time series analysis or machine learning to predict future demand patterns. Account for seasonality, holidays, marketing campaigns, and any other relevant factors that might impact workload.

To implement flexible and remote work options, organizations can start by establishing clear policies and guidelines that outline expectations for remote work arrangements. Ensure the availability of collaboration tools and technology that facilitate seamless communication and project management. Promote a results-oriented culture, emphasizing deliverables over traditional office hours, to encourage autonomy and flexibility. Provide training on remote work best practices and offer ongoing support to employees. Regularly assess the effectiveness of remote work arrangements through feedback mechanisms and make necessary adjustments to maintain a balanced and productive work environment.

Using forecasting and employee's self-service features like leave requests, shift swap or shift change requests company can try to provide more flexibility. As these feature of scheduler help in assigning optmized shifts to the right resources considering employee's availability as well. These tools can also be configured to consider minimum rest between two shifts and break during the shifts. Such features helps in gaining emoloyee's satisfaction as well.

The ability to cross site Team Members into other stores automatically- allows TMs greater flexibility as well as the opportunity to work more hours and not be tied down to one location.

To optimize my WFM budget, One need to incorporate few strategies... 1. Flexible Work Arrangements 2. Invest in Technology 3. Outsourcing Non-Core Functions 4. Cross-Training Employees 5. Performance-Based Incentives 6. Employee Engagement Initiatives 7. Data-Driven Decision-Making 8. Alternative Workforce Models

One of the employee emotional commitment to the company itself and company goals is the possibility to participate in different and flexible working models. Those different models also allows companies to keep the budget under control. Working from home (Split shifts) allows to cover non popular times such as mornings/evenings while day time can be used for private and family activities. Part time is good to cover gaps in peak times, while the employee has more flexibility to balance private life. Full time might be good for socializing with coworkers while heavily utilizing trainings and meetings. All those examples are very good utilized with a cloud based technology combined with AI. Happy employees = Happy customers!

Begin by conducting a thorough needs assessment to identify specific skill gaps and areas for improvement. Develop a comprehensive training plan that aligns with organizational goals and individual career paths. Utilize a mix of training methods, including workshops, online courses, and on-the-job learning experiences. Provide access to relevant resources and mentorship opportunities. Regularly evaluate training effectiveness through assessments and feedback loops, adjusting programs as needed. Demonstrating a commitment to employee development not only enhances skills but also fosters a culture of continuous learning, ultimately contributing to increased employee engagement and retention.

We can only agree that training is an integral part of any employee job. But is it sufficient to provide for an employee a bunch of courses only? Not only, employee development should be visible and present in each work step employee performs in the form of mentoring/coaching, providing a good example and company culture, having fun in participation in Gamification, supporting employees in their preferred way of learning, giving them challenging task and providing support and collecting feedback. Every employee is different, everybody needs a specific treatment and empathy to be shown. Happy employee is not only learning quicker and more efficient, but spreads the happiness to company customers and other coworkers as well.

Cross-train employees in multiple roles to ensure flexibility in staffing. This reduces the need for hiring additional staff and helps in managing fluctuations in workload.

Company can utilize WFM softwares to automate timekeeping process, so punching, absence management and scheduling become easier, error free, more compliant with policies and flexible. Its reporting service helps to get key insights on workorce utilization and coverage. It easily integrates with other ERP and HCM tools, so data accuracy and process becomes smoother.

To automate and streamline processes, start by conducting a thorough process analysis to identify repetitive and time-consuming tasks. Implement robotic process automation (RPA) for routine, rule-based activities, allowing for increased efficiency. Leverage workflow automation tools to streamline communication and collaboration between different departments. Integrate software solutions to create seamless data flow across systems, reducing manual data entry and minimizing errors. Regularly review and update automated processes to ensure they align with evolving business needs. Prioritize employee training to ensure smooth adaptation to automated workflows.

Automate repetitive tasks such as scheduling, time tracking, and reporting to streamline operations and save time and resources.

Providing right feedback, doing it frequently, rewarding and recognising the deserving employees are few things which can increase employee satisfaction and help to retain potential talent. Talent management methods should be more nuanced and empathetic along with reward program, so employees feel more engaged and belongingness. This kind of program redcues lot of hiring and onboarding cost.

create a positive work culture by fostering open communication, recognizing achievements, and providing regular feedback. Offer opportunities for professional development and career growth to demonstrate a long-term commitment to your team. Implement employee recognition programs that acknowledge outstanding performance, whether through peer-to-peer recognition, awards, or incentives. Foster a flexible work environment that supports work-life balance, and consider non-monetary rewards such as extra vacation days or wellness programs. Encourage a sense of ownership and involvement by involving employees in decision-making processes.

Employee turnover is one of the big problems for many companies, specially in the last years. If we still believe our most important assets are our employees and we want to reduce employee turnover and increase satisfaction one of the steps to do is to engage and reward them. Giving them a feeling of their value in a team, supporting diversity and different values everybody can contribute. It is important to listen to them and observe how they behave to offer a help for a potential problem which might occur later. Many time more supportive than money is provide additional time to relax, vouchers for a bike or gym. Introduce times where no work should be scheduled and performed to fully switch off.

Foster a positive work environment to enhance employee satisfaction and reduce turnover. Engaged employees are more productive and committed, ultimately reducing recruitment and training costs.

Co-workers are hidden capital. They know the company they work in and its culture, they know their customers and their requirements, they know the product sold by the company, they know a lot of best practices used in various processes within the company. Do we want to reinvent the wheel? Those experienced people should be involved in shadowing, mentoring, coaching, training, providing advices. Everybody knows something, everybody is an expert in something. Collaboration helps to keep the company spirit at high level, is an effective way of learning, contributes to belonging and supports employee happiness. Last but not least, it shows the company in front of the customer as a one integral and confident part.

Also remember, yes everyone is ultimately a number to the company, but in a changing WFM landscape, I personally have found it best practise to remember that all reports, be them direct, indirect or who you report to... You all sit on the same toilet to do your business, you all have thoughts, feelings, your own personal requirements, your own ways of working. Use that to your advantage, be as inclusive as you can, be a trend setter not just a forecasted number of FTE generator. Be the people's WFM and the people will be more than happy to help you maximise efficiency and decrease cost to serve because you care about them.

While this article makes some great points about optimizing budgets, it should be noted that WFM's role has been evolving. From order taking and executing WFM is having a larger role in strategy development and supplying inputs into those budgets. It's truly an exciting time to be in WFM and witnessing the domain and community of practitioners continue to grow.