Workforce Management Market: Modernizing the Core to Enable Speed to Market for New Ideas

The coronavirus pandemic has intensified the global need for an effective employee management solution. Key vendors are shifting toward next-generation innovations to make employees; lives easier as well as enhance customer experience by delivering artificial intelligence-based automation in day-to-day activities. Normal day work processes are now being integrated with chatbots, voice, and facial recognition-based workforce management, as more and more companies are likely to stick with the work-from-home trend for public health and hygiene.

Many countries are investing and partnering with global providers to research and develop a multi-tenant architecture with embedded intelligence and device agnostics, coupled with innovative concepts of artificial intelligence and machine learning, context-sensitive pop-ups, and voice-based HR transactions on Google Assistant and Alexa. Such concepts have already been put into effect across 45 countries across North America, Asia, the Middle East, Africa, the U.K., and Ireland, and other nations are anticipated to soon follow their counterparts.

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Recent Developments

  • In May 2020, financial investors Calculus Capital and Mobeus participated in a USD 7.3-million new investment round to help the U.K.-based retailer Rotageek and other multi-site businesses effectively manage and schedule staff in order to meet demand, drive efficiency, and reduce costs through cloud-based technology. The tool uses machine learning to identify patterns, and its apps make it easier for staff to swap and cover shifts.
  • In May 2020, WT Partnership Australia, a leading international cost and consultancy firm, implemented Ramco HR and Global Payroll Solution in Phase I of the project to replace its previous manual payroll monitoring and compensation planning of employees that were susceptible to human errors, consumed time, and required further verification. The adoption of Ramco's Payroll solution has helped the company address these pain points through digital transformation and automation.
  • In May 2020, Allegis Global Solutions (AGS), a leading provider of global talent acquisition and workforce solutions, added SimplifyVMS to its vendor management system (VMS) partner relationships. The partnership is aimed to support AGS’s mid-market leading SIGMA managed services provider (MSP) clients with agile, cloud-based VMS technology for flexible and scalable solutions addressing contingent workforce management needs.

Workforce Management Market Segmentation

By Component

  • Solutions
  • Services

By Organisation Size

  • Large Enterprises
  • Small- and Medium-Sized Enterprises

By Region

  • North America
  • Europe
  • Asia-Pacific

" Crucial Insights The Report Provides:"

* Known and Unknown Adjacencies Influencing the Growth of Market

* Explorable Revenue Sources

* Customer Behaviour Analysis

* Target Partners

* Customized Geographical Data Based on Customers as well as Competitors

* Analysis of Market Size and CAGR between the Forecast Periods

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