Workforce Management Industry Update: Technological advancements and Increasing number of Employees will Drive the Growth
The Global Workforce Management Market was valued at US$ 7.14 Billion in 2020 and expected to reach US$ 11.65 Billion by 2027 and is expanding at a CAGR of 7.2% during the forecast period.
Workforce management has become increasingly important across all sectors around the world. Since employees are the core strength of the organization and workforce management involves increasing the efficiency and performance of those very employees it is critically important to have an efficient workforce management system in place in any organization. The bigger the organization the bigger the challenge for the system to handle the hurdles that might come in way of handling the organization. It is important to know the psyche of the employees before increasing their performance. I think most organizations make the mistake of judging the employee beforehand only and not giving them enough time and training so that they can hone their skills and perform to the best of their ability. Not getting to know the employees in a better way can be dangerous for any organization.
Global Workforce Management Market Report 2021 comes with an extensive industry analysis of development components, patterns, flows, and sizes. The report also calculates present and past market values to forecast potential market management through the forecast period between 2021-2027. This research study of Workforce Management involved the extensive usage of both primary and secondary data sources. This includes the study of various parameters affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies, and the technical progress in related industry.
The Workforce Management Market report has been segregated based on distinct categories, such as product type, application, end-user, and region. Each segment is evaluated based on CAGR, share, and growth potential.
List of Top Key Players in Workforce Management Market Report are:
• Kronos
• TimeClock Plus
• Replicon
• WorkForce Software
• IBM
• Workday
• Oracle
• TOSS
• NICE,
• Reflexis Systems
• Verint
• Ceridian
• Meta4
• Ramco systems
Workforce Management Industry 2021 Market Research Report provides exclusive vital statistics, data, information, trends, and competitive landscape details in this niche sector. This report provides the status of the Workforce Management market forecast till 2027. Likely, the report also focuses on global major manufacturers of Workforce Management market share providing information such as company profiles, product picture and specification, capacity, production, price, cost, revenue, and contact information. Upstream raw materials and equipment and downstream demand analysis are also carried out.
Workforce Management Market Segmentation by Product Type:
• Field Service Management
• Human Resource Management
• Performance and Training Management
• Data Collection
• Recruiting
• Budgeting
• Forecasting
• Scheduling
• Analytics
Workforce Management Market Segmentation by Application:
• Banking
• Insurance
• Government
• Retail
• Logistics
• Healthcare
• Manufacturing
The report diversifies the global geographical expanse of the Workforce Management market into five prominent regions such as Europe, APAC, MEA, North and South America.
Workforce Management Market Key findings
• The Workforce Management Market is expected to grow with a rate of more than 9% in the next five years as more and more software solutions are used in organizations.
• Companies that implemented the workforce management systems saved $1614 for every employee and payroll costs dropped by an average of 0.4% during the following year after which workforce management software was implemented.
• Employee engagement is a very important feature of workforce management and a research has found out that companies which engages their employees are 21% more profitable.
Workforce Management Market Recent news
• In July 2021, McKesson agreed to sell part of Europe arm to phoenix group: McKesson Corporation agreed to sell part of its continental European unit to Merckle family’s Phoenix Group, the largest German pharmaceutical wholesaler.
• In January 2020, WorkForce Software which is moving to Oracle cloud infrastructure looks at more than 30% increase in performance improvements: Workforce software announced the migration of it’s workforce suite platform to the oracle cloud infrastructure.
For More Information https://www.alltheresearch.com/report/737/workforce-management-market
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