“This survey provides tangible data about the return on investment that companies should expect from an enterprise workforce management implementation,” said Robert Gardner, managing partner, Axsium Group.
Barrington, IL (PRWEB) September 30, 2010
Companies save more than $1,600 per employee, on average, in the year following their workforce management (WFM) implementation according to a survey released today by Axsium Group.
Axsium studied industry-leading companies who had implemented an enterprise workforce management solution over the past several years, evaluating both the benefits and user satisfaction of the system. The study focused on companies who successfully implemented one or more of the following WFM modules: Time and Attendance, Scheduling, Leave Management and Attendance Management.
Axsium’s Workforce Management Benefits and Satisfaction Survey found that most organizations that implemented an enterprise WFM solution realized significant reductions in their overall labor spend within twelve months of the software deployment.
Beyond the benefits of an enterprise workforce management implementation, the survey focused attention on the overall satisfaction of the system from an end-user and management perspective. The majority of companies were, satisfied or indifferent to their new WFM systems.
The study also found areas for improvement, noting that organizations are not devoting enough attention to training, change management and communications. This is most clearly seen in the user satisfaction results, with the majority of respondents saying it took them more time to complete tasks with the new WFM system than the old system and 44 percent not fully adopting it. Based on all of the results, it is clear that with more effective level setting at the beginning, and change management and training throughout the project, most organizations could generate a greater return on investment from the WFM implementation.
“This survey provides tangible data about the return on investment that companies should expect from an enterprise workforce management implementation,” said Robert Gardner, managing partner, Axsium Group. “It also shows that with proper planning, communication and a change management strategy, each organization would have likely seen improved savings and user satisfaction.”
A few survey highlights:
- Companies saved an average of $1,614 per employee in the year immediately following the implementation of a WFM system;
- Companies reduced their payroll costs by an average of 0.4 percent in the year immediately following implementation;
- 31 percent of users took longer than two months to effectively master the skills required of the new system;
- 88 percent of users reported their new WFM system met or exceeded their expectations;
- 25 percent of companies created a business case to calculate the ROI for the WFM system.
To download a free copy of the Axsium Workforce Management Benefits and Satisfaction Survey, visit http://www.axsiumgroup.com/resources.html.
About Axsium Group
Axsium Group, a division of Knightsbridge Human Capital Solutions, is the leading workforce management consultancy. With a singular focus on workforce management, our clients gain access to trusted business advisors, industrial engineers, and technology experts with unmatched experience. Axsium Group has delivered world-class workforce management solutions for clients such as American Eagle Outfitters, International Paper, Bank of America, Visiting Nurse Service of New York, Express, and Safeway.
About Knightsbridge Human Capital Solutions
Knightsbridge helps organizations strengthen the capability of their people to deliver results. Our seamlessly integrated teams of experienced specialists in Organizational Capability, Talent Search & Selection, Organizational Productivity and Career Transition provide customized solutions to deliver on your human capital needs. Knightsbridge has the people and services you need when you need stronger people.
Knightsbridge is Canada’s fastest growing human capital company, with 26 offices and 240 employees across Canada the U.S and the U.K. including Toronto, Montreal, Ottawa, Calgary, Vancouver, as well as Halifax, Moncton, and St. John’s through our strategic alliance with Robertson Surrette. We serve our clients globally through strategic alliances with Lee Hecht Harrison for career management services and Amrop for global executive search. For more information, visit http://www.knightsbridge.ca.