Workforce As An Asset Guest Series Part 4Source: Accu-Time Systems, Inc.
By Peter DiMaria, Accu-Time Systems, Inc.
In this final part of my four-part series I look at the convergence that is occurring in the workforce management (WFM) industry. In parts one through three I wrote about employee self-service (ESS) and how both employers and employees will benefit from instituting ESS in both large and medium sized enterprises. The world has been embracing ESS at an ever-increasing rate. But a new trend has been emerging. There is now a convergence of ESS, time and attendance, absence management, recruitment and on-boarding, and talent management.
Today's HR manager is a multi-faceted leader with a seat at the executive table. Companies have recognized that its people are also assets, just like machinery, accounts receivables, inventory, and intellectual property. Like any other asset, human capital requires optimization and close management. The various parts of human resource management like payroll, recruiting, hiring, training, benefits, and scheduling have historically been handled discretely, in a disconnected manner. HR managers and WFM software companies have discovered that in order to maximize the value of each employee there needs to be a holistic way of monitoring and managing their time, activities, and participation in the organizations functions. With this recognition comes convergence.