20 Workforce Management Terms for Business
As a business owner, you know that managing your employees is an essential aspect of running a successful company. However, with the constant changes and advancements in technology, it can be challenging to keep up with the latest workforce management terms and strategies.
- Workforce Management (WFM) – The process of managing and optimizing the workforce to ensure that business objectives are met efficiently and effectively.
- Forecasting – The practice of predicting future workforce needs based on historical data, market trends, and business goals.
- Scheduling – The process of creating work schedules for employees based on forecasted demand, employee availability, and business needs.
- Time and Attendance – The tracking of employee hours worked, including clocking in/out, breaks, and paid time off.
- Absence Management – The management of employee absences, including sick leave, vacation time, and other types of leave.
- Leave Management – The process of managing different types of leaves that employees are entitled to, such as FMLA, maternity/paternity leave, and bereavement leave.
- Employee Self-Service (ESS) – A system that allows employees to access their work schedules, request time off, view pay stubs, and update personal information.
- Leave of Absence (LOA) – An extended period of time during which an employee is not working due to personal reasons or a medical condition.
- Shift Planning – The planning and scheduling of employee shifts based on forecasted demand and business needs.
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- Real-Time Adherence (RTA) – A system that monitors and tracks employee adherence to their scheduled shifts in real-time, allowing for adjustments when needed.
- Workforce Optimization – The process of maximizing the productivity and efficiency of the workforce through effective scheduling, training, and utilization.
- Performance Management – The process of setting goals, providing feedback, and evaluating employee performance to improve productivity and achieve business objectives.
- Workforce Analytics – The use of data analysis tools to gain insights into workforce trends, patterns, and behavior in order to make informed decisions.
- Shift Bid/Bidding – A process in which employees can bid for their preferred shifts based on seniority, availability, and other factors.
- Shift Swapping – The practice of trading shifts with another employee to accommodate personal needs or preferences.
- Onboarding – The process of integrating new employees into the company by providing them with necessary training and resources.
- Offboarding – The process of managing the exit of an employee from the company, including exit interviews and offboarding procedures.
- Employee Engagement – The level of commitment, motivation, and satisfaction that employees have towards their work.
- Workforce Compliance – The process of ensuring that business practices comply with laws and regulations related to labor and employment.
- Workforce Planning – A strategic approach to proactively manage the workforce, taking into consideration business goals, future needs, and potential challenges.
Congratulations, you’ve completed our comprehensive guide to 20 workforce management terms for business! By now, you should have a clear understanding of key concepts and terminology related to managing your workforce effectively. With this knowledge at hand, you can confidently communicate with HR professionals and implement strategies that will benefit your business.
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