By John Orr, chief strategy officer, Dayforce
This is part three of our four-part series exploring how retail organizations can embrace HCM technology and HCM best-practices to become more strategic. The benefits of doing so are many: Organizations reduce their high turnover rates, improve the employee experience and add efficiencies to the human resource department’s workflow directly into daily operations in the store and across the organization, freeing staff to focus on higher-level activities and to be more proactive in their work.
For retailers and others, workforce management (WFM) is the dynamic bread and butter of holistic human capital management — i.e., WFM is the fundamental pillar needed to get the right foundation for a strategic approach to HCM. Much of WFM is transactional, yes, but without it, proper reporting and decision support cannot exist. In the past, HR departments and information were more of a static data store of people information. With today’s holistic HCM solution, however, HR is able to converge with operations in a highly dynamic way. This leads to improved visibility, monitoring and tracking, as well as proactive and immediate action.
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