Nucleus Research: Users Prefer Standalone WFM Solutions to Bundled HCM Platforms
Nucleus asked respondents for their opinions on standalone solutions, their most preferred product tools and the benefits they’ve experienced from their use. Survey results find that standalone workforce management programs are preferred over bundled platforms, whilst also achieving higher ROI’s.
- More than half of respondents using bundled HCM/WFM solutions would prefer a standalone workforce management solution.
The difference is very important to employees. Implementing dedicated solutions for modern workforce management can decrease turnover by 30 to 60 percent.
- Standalone workforce management platforms show a return of $12.24 for every dollar invested.
Here are some important findings from the survey:
- The most important capabilities singled out by users were rostering, employee self-service, compliance management, analytics and reporting and labour forecasting.
- Customers who utilise labour optimisation functionality can reduce labour spending by more than 5% on average.
- Rostering automation can reduce the amount of time spent creating and adjusting rosters by an average of 75 percent. Users who do not leverage this functionality and manually roster their workforce typically spend 3 to 6 percent more on labour due to unexpected overtime costs and roster padding.
- The average shift manager can save approximately 15 minutes every week by implementing employee-self-service, with one organisation saving $1.2 million annually.
As companies have raced to add digital capabilities to their businesses after the pandemic, modern workforce management solutions have become a greater necessity to their success. Due to high turnover rates and difficulty attracting talent, staffing industries with a large hourly workforce have become more complex, requiring complicated solutions for staffing issues and reducing labour costs. Hybrid HCM Suites with some workforce management capabilities are simply not enough to handle the complex troubleshooting inherent in the modern workplace. A dedicated best-of-breed solution, like WorkForce Software, is not only capable of handling workforce management issues that arise better, but also cutting back on costs immensely.
Read the full Nucleus WFM Satisfaction Survey report and learn how standalone workforce management solutions like WorkForce Software provide the highest ROI and have the ability to innovate faster in the areas of greatest change.