“Organisations have traditionally invested less frequently in WFM applications than in other HCM applications, such as functions of talent management. However, WFM is one of the few functions of HCM that can provide hard ROI.”
Source: Gartner Market Guide for Workforce Management Applications, 23 August 2018 ID: G00337672
How can you measure return on investment for your new HCM System? This may not be so difficult as you think if you are considering in taking on a new workforce management system (WFM).
According to global research and advisory firm Gartner, WFM is one of the “few functions of human capital management that can provide hard return on investment (ROI).”
Now, Crown Workforce Management is helping prospective customers to “do the maths” in conjunction with Gartner, which through a recently formed partnership, is providing support to analyse trends and emerging markets for its time and attendance (T&A), rostering and business analytics software.
Crown has calculators on its website which provide an estimated ROI against its T&A and rostering solutions. Users can apply employee numbers, average salary, workforce turnover, average cost of recruitment and payroll overheads to ‘crunch the numbers’.
The company’s partnership with Gartner will provide it with insights, advice, and tools, backed up by worldwide research that will help the company navigate technical, socio-political and legal changes which effect employment and business practice.
Mike Hawkesford, Managing Director of Crown Workforce Management said: “We are in the process of unprecedented change in respect of technology and the political landscape. Only organisations that are prepared to adapt and change will be to succeed and grow and paramount to this, is the effective use of its greatest investment – human resources.
“Knowing how best to apply these resources to optimum effect can only be assessed through the application of workforce management and although this, in itself, may seem like another overhead, as Gartner has highlighted, WFM pays dividends. It can help guide and assess simultaneously, providing senior executives and business leaders with the tools to put strategic change into operation and analyse its progress.”