Workforce management software is used by organizations to increase the efficiency and productivity of the employees. With the help of this software, organizations can match the right employee to the appropriate job. The major features offered by the best workforce management software are scheduling, forecasting, performance management, reporting, workforce mobility, time tracking, employee tracking, integration, administrative control, security, and deployment flexibility.
360Quadrants shortlisted the top vendors offering the workforce management software in the market. The quadrant is released after a deep study of the products and business strategies of the vendors. This enables buyers to select the right workforce management software as per their requirements. 360Quadrants conducts SWOT analysis and enables vendors to learn about the latest opportunities in the market.
The global workforce management software market is expected to grow at a CAGR of 9.3%—from USD 5,979 million in 2020 to USD 9,326 million by 2025. The best workforce management software market is driven by various factors like an increase in demand for workforce optimization &mobile applications and the growing adoption of cloud-based workforce management solutions.
Workforce Management Software Companies Quadrant Placement
360Quadrants has evaluated 24 software vendors that offer workforce management software, out of which the top 10 were positioned on a quadrant under visionary leaders, innovators, dynamic differentiators, and emerging companies.
UltiPro, Paycom, BambooHR, Humanity, Zenefits, and Deputy Workforce management have been identified as Visionary Leaders in the workforce management software market.
SAP SuccessFactors and Kronos Workforce Central have been recognized as the Innovators in the workforce management software space.
OrangeHRM and greytHRhave been positioned as the Emerging Companies in the workforce management software space.
Beekeeper and Branch have been identified as the Dynamic Differentiators in the workforce management software space.
360Quadrants Evaluation Approach
360Quadrants selected and assessed top workforce management software companies. These companies were evaluated depending on more than 90 carefully selected parameters that were collected from product &company strategy assessment and data collected from buyers and industry specialists. Some of the parameters are compliance management, feedback management, and performance management.
Compliance Management: Workforce management software manages workforce compliance. Managing compliance is vital for every company. The software ensures that all the relevant laws and policies are successfully implemented by the company.
Feedback Management: The software manages feedback from the employees as well as from the client. This is essential as all the data is saved on a single portal.
Performance Management: Performance management enables managers to monitor and assess employee performance and also makes sure that the employee goals are aligned as per the organization’s goals. This keeps employee morale high.
All these parameters were assigned with the score, post which the inputs were analyzed. This helps the analysts to assess the absolute rating based on which the workforce management software providers were ranked and placed on the 360Quadrants.
360Quadrants is the largest marketplace looking to disrupt USD 3.7 trillion of technology spends and is the only rating platform for vendors in the technology space. The platform provides users access to unbiased information that helps them make qualified business decisions. The platform facilitates deeper insight using direct engagement with 650+ industry experts and analysts and allows buyers to discuss their requirements with 7500 vendors. Companies get to win ideal new customers, customize their quadrants, decide key parameters, and position themselves strategically in a niche space, to be consumed by giants and startups alike. Experts get to grow their brand and increase their thought leadership. The platform targets the building of a social network that links industry experts with companies worldwide.
360Quadrants will also be launching quadrants in fields like Employee Monitoring Software, Employee Scheduling Software, and HR Software.