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4 Workforce Planning Software Tools for Your Business

Workforce planning software helps businesses build the right teams. Below, discover four types of workforce planning software that can help you optimize your workforce and achieve your business goals.

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4 workforce planning software tools for your business

Discover which of these software tools might be the best fit for your company.

1. Workday

Workday combines workforce planning with other aspects of human capital management (HCM) to provide a complete workforce management solution. Its features include payroll processing, expense management, time and attendance, real-time dashboards and mobile accessibility.

2. SAP SuccessFactors

SAP SuccessFactors combines multiple aspects of HCM into a single cloud-based suite. The workforce planning module offers data-driven insights to help you make decisions about staffing, training and succession planning. Workforce Analytics also offers predefined metrics to help you understand your workforce data.

3. ADP

ADP Workforce Management combines payroll, analytics and other aspects of HCM into a single platform. The Insights & Analytics module gives users access to custom dashboards, making real-time data available at all times. You also gain access to benchmark data, allowing you to make decisions based on market trends.

4. BambooHR

The BambooHR platform includes an HR Data & Reporting module, which provides valuable information about your workforce. Built-in integrations let you compare your company against similar organizations, potentially helping your HR team make better hiring decisions.

What is workforce planning?

Workforce planning, also known as HR planning, helps you identify current and future workforce gaps. In some cases, these gaps occur when multiple employees leave your organization at the same time.

For example, several employees in your accounting department may retire within the same year. Gaps may also occur if you create a new department and need employees to staff it.

What is workforce planning software?

Workforce planning software helps you analyze your workforce, identify potential gaps and make forecasts based on custom criteria. This software typically includes the following features.

Scheduling

Workforce planning tools let you schedule employees for shifts in different locations. Once you create a schedule, you can easily see how many employees are working within a given timeframe. Using built-in scheduling features makes it easier to address the size, shape, time and place aspects of workforce planning.

Forecasting

With forecasting, you can predict staffing needs based on past and current data. For example, if you own a retail shop and want to schedule employees for the Sunday day shift, you might assess sales and labor cost data from previous months to determine how many team members are needed.

You can also use forecasting to determine how many positions might be open in the future so you can anticipate future hiring needs.

Analytics

Analytics uses machine learning (ML), statistics and math to identify patterns in large datasets. In workforce planning, business analytics (BA) can help you make decisions related to hiring, training, promotions and scheduling.

For example, many workforce planning solutions calculate key metrics automatically, keeping you informed about your business.

A workforce planning software may calculate the following:

  • Cost per hire
  • Turnover rate
  • Vacancy rate
  • Revenue per employee
  • Average employee satisfaction score
  • Offer acceptance rate
  • Absence rate

Each metric can provide valuable information about your workforce. For example, if your vacancy rate is higher than average, your hiring team may try new recruitment methods or adjust the minimum requirements for hard-to-fill jobs.

Benefits of using workforce planning software

Workforce planning solutions can generally calculate key metrics faster and potentially benefit organizations in the following ways:

Increased flexibility

Workforce planning solutions can help your company adapt to changing market conditions. Some software packages even allow you to set up custom reports, informing your HR team of business changes.

Reduced labor costs

Workforce planning involves recruiting employees at the right time and placing them effectively to reduce unnecessary labor costs.

Improved management

This software typically provides key metrics, such as absence rates and revenue per employee (RPE), which can help managers make informed decisions about employee assignments.

Enhanced efficiency

Workforce planning software reduces manual processes and can streamline workforce-planning activities, potentially saving your employees time. Automation also helps prevent data-entry errors.

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