Market Highlights: Workforce Management defined as the integrated set of processes where all the particular institution uses to optimize the productivity of employees, individual, departmental and entity wide levels. Workforce Management market is expected to mark significant growth over forecasted period owing to increasing consumers spending on workforce optimization, providing mobile applications and technological advancement. There has been significant rise in number of organizations experienced compliance issues with figure stood up to 50% in United States alone in 2018, the future for workforce management looks promising. This result in rising popularity of flexible work arrangements platforms, increasing demand of automating time and attendance tracking, escalating need for off-boarding and on boarding processes, and growing popularity of workforce analytics may trigger demand and help in industry expansion. The market study is being classified by Type (Workforce Scheduling, TWorkforce Scheduling, Embedded Analytics, Absence Management and Others), by Application (BFSI, Healthcare, Retail and E-commerce, Manufacturing, Government, Telecommunications and IT and Others) and major geographies with country level break-up that includes South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
Key Players: The prominent players in the Workforce Management are IBM Corporation (United States), Oracle Corporation (United States), SAP AG (Europe), KRONOS (United States), Workforce Software (United States), ADP LLC (United States) and WORKDAY (United States).
Major Market Development Highlights In May 2019, iSolved HCM acquired workforce Management Company, HK payroll services. This acquisition is beneficial in providing HKP customers to access variety of additional tools and resources including iSolved with Mojo, a collaboration and performance solution, and iSolved Learn, a powerful learning management tool. In August 2018, Kronos launched a new AI and analytics driven workforce management solution which is beneficial in providing features such as scheduling, absence management, analytics and compliance management. It also offers new set of solutions that help firm to achieve better productivity and prevent attrition among employees.
Key Questions Answered in the Report What will the Workforce Management Market size and the growth rate be in Future? What are the key factors driving the Workforce Management Market? What are the key market trends and macro-economic impacting the growth of the Workforce Management Market? What are the challenges to market growth? Who are the key vendors in the Workforce Management Market? What are the market opportunities and threats faced by the vendors in the Workforce Management Market? Trending factors influencing the market shares of the Players. What are the key outcomes of the five forces analysis of the Workforce Management Market?
Research Methodology: The top-down and bottom-up approaches are used to estimate and validate the size of the Global Workforce Management market. In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Workforce Management market. In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc. Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Workforce Management Manufacturers, Workforce Management Traders, End-Use Market Participants of Different Segments of Workforce Management, Government and Research Organizations, R&D Institutions, Associations and Industrial Bodies and Others. This helps us to gather the data for the players revenue, operating cycle and expense, profit along with product or service growth etc. Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, Annual reports, press releases etc.