Are you looking to add Workforce Management to your arsenal of tools? Maybe for your business or personal use only, whatever it is – it’s always a good idea to know more about the most important Workforce Management statistics of 2024.
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On this page, you’ll learn about the following:
Best Workforce Management Statistics
☰ Use “CTRL+F” to quickly find statistics. There are total 125 Workforce Management Statistics on this page 🙂Workforce Management Benefits Statistics
- This makes the current workforce more than 60% more diverse than it was in 1994.A diverse workforce offers many benefits. [0]
Workforce Management Usage Statistics
- 16% of employers are using technologies more frequently to monitor their employees through methods such as virtual clocking in and out, tracking work computer usage, and monitoring employee emails or internal communications/chat. [1]
Workforce Management Market Statistics
- Moreover, considering that over 30% of today’s workforce are millennials who grew up surfing the internet, organizations need to advance their technology use to keep up with the market changes and maintain a competitive advantage. [2]
- The workforce management software market is predicted to see growth of more than 11% in the next five years as software solutions become more common within businesses worldwide. [0]
- The rise in demand for business analytics and the projected 3% increase in IT spending are major contributing factors to the growing market. [0]
- The market is predicted to see a compound annual growth rate of 11.4% during the forecast period. [0]
- 18% of restaurateurs will search for new marketing technology in 2020 12% of restaurateurs plan on exploring new third party delivery technology in 2020. [3]
Workforce Management Software Statistics
- The workforce management software market is predicted to see growth of more than 11% in the next five years as software solutions become more common within businesses worldwide. [0]
- According to Gartner, spending on enterprise software will total $466 billion. [0]
- 75% of HR personnel use recruiting software. [4]
Workforce Management Latest Statistics
- Even before the Covid 19 pandemic, we saw that a major uptrend in remote work in the U.S. Statistics from FlexJobs showed an increase in people working remotely by 44% in the five years preceding the pandemic and by 91% in the previous 10 years. [2]
- And worldwide, 70% of the workforce worked remotely at least once a week , according to CNBC. [2]
- Managing a distributed workforce has its unique challenges , as workers struggle with loneliness (20%), collaboration and communication (20%) and difficulty unplugging (18%). [2]
- Moreover, with millennials, who are expected to make up 75% of the workforce by 2025 and 71% of whom expect to have at least one international assignment in their career, the demand for going global is high. [2]
- During the pandemic, many workers moved to suburban areas in order to reduce living costs and companies like Facebook decided to introduce pay cuts, which 33% out of 7,109 employees found unfair. [2]
- But, for instance, China will observe a 5% increase in college educated talent thanks to the younger population and heavy investment in education. [2]
- But driving employee engagement doesn’t come easy worldwide, only 20% of employees are engaged with their work. [1]
- According to new research of more than 600 US businesses with 50 500 employees, 63.3% of companies say retaining employees is actually harder than hiring them. [1]
- Overall, companies with high employee engagement are 21% more profitable. [1]
- In fact, a Gallup study shows that highly engaged workplaces saw 41% lower absenteeism. [1]
- According to Gallup’s State of the Global Workplace, only 15 percent of employees are engaged in the workplace. [1]
- The study also reveals remarkable geographical differences 33 percent of U.S employees are engaged at work almost two times more than the global average. [1]
- On the other hand, in Western Europe, only 10 percent of employees are engaged at work. [1]
- The situation looks especially alarming in the U.K, where the amount of engaged employees is as low as 8 percent — and the number has been in steady decline for the past few years. [1]
- According to a 2021 study, 73 percent of employees would consider leaving their jobs for the right offer, even if they wouldn’t be looking for a job at the moment. [1]
- Changing jobs isn’t all about the money, either, as 74 percent of younger employees would accept a pay cut for a chance to work at their ideal job, and 23 percent of those seeking a job wouldn’t need a pay increase to take a new position. [1]
- According to a study on workplace engagement in the U.S, disengaged employees cost organizations around $450 550 billion each year. [1]
- According to Gallup’s meta analysis, the business or work units that scored the highest on employee engagement showed 21 percent higher levels of profitability than units in the lowest quartile. [1]
- Companies with highly engaged workforce also scored 17 percent higher on productivity. [1]
- However, we’re not there yet a recent Interact/Harris Poll shows that 91% of the surveyed employees think that their leaders lack communication skills. [1]
- What’s more, almost 1 in 3 employees don’t trust their employers, according to the Edelman Trust Barometer. [1]
- In a major longterm study, companies that had the best corporate cultures, that encouraged all around leadership initiatives and that highly appreciated their employees, customers and owners grew 682 percent in revenue. [1]
- During the same period of evaluation — 11 years — companies without a thriving company culture grew only 166 percent in revenue. [1]
- 47 percent of people actively looking for a new job pinpoint company culture as the main reason for wanting to leave, so if you want to improve both employee retention and profitability, improving company culture should be one of your business priorities. [1]
- According to a 2018 Korn Ferry Survey, the majority — 33 percent — of those changing jobs cite boredom and the need for new challenges as the top reason why they are leaving. [1]
- The second most common reason was the fact that the work culture didn’t fit the employee or their values, with 24 percent choosing this as their main reason. [1]
- The quest for a larger salary came fourth, with only 19 percent choosing it as their main reason for leaving. [1]
- One study asked what would be the most important thing a manager or a company could do that would help the employee be successful and 37 percent — the majority — cited recognition as the most important method of support. [1]
- Other solutions lag far behind — 12 percent want more autonomy, 12 percent more inspiration, 7 percent more pay, 6 percent more training and 4 percent a promotion. [1]
- A recent report shows that 84% of highly engaged employees were recognized the last time they went above and beyond at work compared to only 25% of actively disengaged employees. [1]
- According to SHRM’s 2017 Employee Job Satisfaction and Engagement Report, only 29 percent of employees are “very satisfied” with current career advancement opportunities available to them in the organization they work for. [1]
- However, 41 percent consider this a very important factor to job satisfaction, so companies should pay close attention to making sure employees feel they can advance in their careers without leaving the company. [1]
- According to the SHRM study, 30 percent of employees considered career development opportunities for learning and personal growth in general very important, yet only 30 percent were happy with their current situation. [1]
- The chance for professional development on the job is especially important to the younger generations according to a Gallup survey, up to 87 percent of Millennials consider development in a job important. [1]
- While 60% of employers have increased employee listening efforts, few are using formal listening approaches. [1]
- Indeed, just 31% conduct employee surveys and 13% conduct focus groups. [1]
- Only 47% of employers have the capacities or processes in place to meet a crisis with the best possible outcome. [1]
- A survey run in the UK during the pandemic showed that 73% of the respondents believed they were more efficient when working from home. [1]
- The top advantages of working from home include a lack of commute (47% of respondents) and a more flexible schedule (43%). [1]
- A full week of virtual meetings leaves 38% of employees feeling exhausted while 30% felt stressed. [1]
- Since the outbreak of the pandemic, 75% of employees say they feel more socially isolated, 57% are feeling greater anxiety, and 53% say they feel more emotionally exhausted. [1]
- 85% of employees say they’re most motivated when management offers regular updates on company news. [1]
- Only 42% of employees strongly agree that leadership is effectively leading their organization through the crisis. [1]
- When employees are extremely satisfied with communications about the company’s response to coronavirus, 96% of them believe that their employer really puts their safety first. [1]
- When communication is poor, only 30% of them believe so. [1]
- 20% of remote employees say that they lack a sense of belonging and sometimes feel lonely. [1]
- Employees who say their manager is not good at communicating are 23% more likely to experience mental health declines. [1]
- 86% of employees say they feel the need to prove to bosses they are working hard and deserve to keep their jobs. [1]
- When it comes to the pandemic, more than 90% of employees said they wanted at least weekly communication from their company; 29% said they prefer daily communication. [1]
- Management Occupations PRINTER FRIENDLY Employment in management occupations is projected to grow 9 percent from 2020 to 2030, about as fast as the average for all occupations, and will result in about 906,800 new jobs. [5]
- In 2019, 91 percent of large sized organizations reported that they already adopted time and attendance workforce management applications. [6]
- During the same survey, 40 percent of organizations stated that they experience functionality gaps in applying talent management human resources processes. [6]
- Available to download in PNG, PDF, XLS format 33% off until Jun 30th. [6]
- Available to download in PNG, PDF, XLS format 33% off until Jun 30th. [7]
- 73% of CFOs agree or strongly agree that their organization is using digital tools to help streamline and automate operations. [8]
- Furthermore, 55% of CFOs agreed or strongly agreed that their organization uses digital tools to increase collaboration and productivity. [8]
- With 73% of CFOs saying they’ve seen a return on investment in the digital tools implemented at their organizations, we are seeing that Health and Human Services organizations are increasingly embracing technology that can help the function more efficiently. [8]
- In 2019, 88 percent of organizations reported that they already adopted time and attendance workforce management applications. [9]
- During the same survey, 40 percent organizations stated that they experience functionality gaps in applying talent management human resources processes. [9]
- Available to download in PNG, PDF, XLS format 33% off until Jun 30th. [9]
- Unfortunately, unpredictable scheduling is commonplace in many industries — in fact, less than 40% of retail workers report having regular schedules. [0]
- In fact, according to Statista, there will be more than 75 billion IoT connected devices by 2025. [0]
- According to Gartner, global IT spending will see an increase of more than 3% in the next year. [0]
- 67% of candidates believe that a diverse team is of vital importance. [4]
- 69% of employees say recognition makes them work harder. [4]
- 93% of employees believe empathy plays a huge role in retention. [4]
- Fear of job automation is present in only 7% of all HR managers. [4]
- 67% of hirers list the lack of skilled labor as the greatest challenge. [4]
- On average, every year, a company will experience18%turnover in its workforce. [10]
- Abusiness can expect on average to lose6%of its staff because of reduction in force or terminating them due to poor performance. [10]
- On average, companies lose13%of their people every year because they choose to leave on their own volition. [10]
- Annual high performer turnover rateon average is3%. [10]
- Among workers ages 60 to 64, 54% had been employed for at least 10 years with their current employer in January 2020, compared with 10% of those ages 30 to 34. [10]
- Some66%ofworkers have accepted a job and realized it was a bad fit. [10]
- For workers who rejected a job offer or leave within the first 90 days,28%named culture as the reason for their quick departure. [10]
- More thanthree quartersof Americans say theirmanager sets the culture, but 36% say their manager doesn’t understand how to lead a team. [10]
- Concerningly, some26%of workers report theydread going into work every day. [10]
- A full74%of respondents to a recent survey report experiencing job burnout. [10]
- Some40%of workers say they work between eight and 12 hours on a daily basis. [10]
- Organizations with a strong onboarding process improve new hire retentionby82%and productivity by more than 70%. [10]
- 40% said getting a question answered from HR took too long. [10]
- A striking69%of employees are more likely to stay with the company for at least three years after a positive onboarding experience. [10]
- Thenumber of engaged employees—those who are highly involved in, enthusiastic about and committed to their work and workplace—sits at just36%. [10]
- Another13%of workers areactively disengagedand the rest (51%). [10]
- In companies with more than 40% turnover every year, those with higher engagement levels have18%lower turnover. [10]
- That improvement is even more dramatic for companies with less than 40% annual turnover. [10]
- These companies experience 43% less turnover with higher levels of engagement. [10]
- Some 77% said the primary goal oftheir focus on employee experience was to increase retention. [10]
- Companies with a purposeful mission had an attrition rate49%lower than those who did not. [10]
- Andmore than 50%aren’t asking for very much. [10]
- They contribute about 48% more profit to their companies than average managers do. [10]
- 1 reason employees leaveislack of growth and development opportunities, according to one report. [10]
- Twenty two percent of workers leave for career development, a number that has increased170%in the last decade. [10]
- Fewer than half(47%). [10]
- Some 68% of staffers said theirorganization’s recognition program positively affects retention. [10]
- Some71%of peopleuse referrals from current employeeswhen finding a job. [10]
- And there’s a disconnect here, with 72% of hiring managers saying they provide clear job descriptions, compared to36%of candidates who report they were given clear job descriptions. [10]
- those surveyed saida recruiter’s conversation skills, closely followed byappearance or personal style(37%). [10]
- On site interviews are the biggest reason that potential applicants drop out of the process, with15%dropping out after that visit. [10]
- It has risen 20% since 2013 as a top reason for turnover. [10]
- The leading reasons for leaving in this category arescheduling and commute—the latter of which has seen a remarkable 403% increase in the last decade. [10]
- Health care insurance is the most important benefitfor employees, dubbed as an essential by72%of job seekers. [10]
- for50%of respondents, followed by a casual dress code and cell phone/internet subsidies. [10]
- Surprisingly, 23% of full time employees are willing to take a25%lower turnoverpay cut of more than 10%in order to work from home at least some of the time. [10]
- Almost half of peoplewon’t return to jobs that don’t offer remote workafter COVID19, as 80% of fulltime workers expect to work from home at least three times per week after COVID19 guidelines are lifted and offices are able to re. [10]
- Here’s the good news More than 75% of employees who quit could have been retained by the organization. [10]
- The top employee engagement strategies for managers in 2020 are more team building activities (46%), more competitive pay (43%), and more professional development and training (38%). [3]
- The employee engagement strategies restaurant staff want are an increase in pay (86%), more team building activities (58%), and more professional development and training (50%). [3]
- 47% of restaurants were negatively affected by employee turnover in 2019, with less than a third of restaurateurs reporting that turnover had no impact on their business. [3]
- Over 35% of employees feel that they don’t receive enough positive recognition at work. [3]
- Lowering operational costs is the third highest goal for restaurateurs in 2020 (14%). [3]
- The top food trends restaurants will be exploring in 2020 are vegan and plantbased options (10%), local ingredients (6%). [3]
- Of 40% of restaurants that plan to expand in 2020, 58% plan to open one new location, 23% plan to open two, and 19% plan to open three or more. [3]
- 42% of restaurateurs don’t plan on adding or changing any technology in their restaurant Nearly 20% of restaurateurs plan on updating their POS system in 2020. [3]
- 65% of restaurant employees are very satisfied with their workplace technology Over 60% of restaurant staff want to communicate with managers through text or 7shifts. [3]
I know you want to use Workforce Management Software, thus we made this list of best Workforce Management Software. We also wrote about how to learn Workforce Management Software and how to install Workforce Management Software. Recently we wrote how to uninstall Workforce Management Software for newbie users. Don’t forgot to check latest Workforce Management statistics of 2024.
Reference
- selecthub – https://www.selecthub.com/hris/workforce-management/workforce-management-software-market/.
- smarp – https://blog.smarp.com/employee-engagement-8-statistics-you-need-to-know.
- forbes – https://www.forbes.com/sites/forbestechcouncil/2021/01/27/2021-workforce-management-trends-every-training-leader-needs-to-know/.
- 7shifts – https://www.7shifts.com/blog/study-restaurant-labor-management-trends-stats-for-2020/.
- cxcglobal – https://www.cxcglobal.com/hr-statistics-and-trends-for-your-2021-workforce-planning/amp/.
- bls – https://www.bls.gov/ooh/management/home.htm.
- statista – https://www.statista.com/statistics/1085488/workforce-management-application-worldwide-size/.
- statista – https://www.statista.com/statistics/727532/worldwide-workforce-management-applications-market-forecast/.
- continuumcloud – https://resources.continuumcloud.com/blogs/finance-facts-four-stats-on-workforce-management-for-cfos.
- statista – https://www.statista.com/statistics/1085485/workforce-management-applications-type-worldwide/.
- netsuite – https://www.netsuite.com/portal/resource/articles/human-resources/employee-turnover-statistics.shtml.
How Useful is Workforce Management
One of the key benefits of effective workforce management is improved productivity. By carefully planning schedules and optimizing the use of resources, organizations can ensure that they have the right number of employees with the necessary skills to meet operational demands. This not only reduces downtime and eliminates bottlenecks but also allows for a more efficient allocation of tasks. In this way, workforce management can have a significant impact on the overall efficiency of an organization.
Furthermore, workforce management can also help organizations enhance their customer service. By accurately forecasting demand and aligning staffing levels accordingly, businesses can ensure that they have enough employees on hand to meet customer needs. This can lead to shorter wait times, faster response times, and overall higher levels of customer satisfaction. Additionally, workforce management can help companies identify and address performance gaps, leading to a more consistent and reliable customer experience.
In addition to improving productivity and customer service, effective workforce management can also have a positive impact on employee satisfaction and retention. By providing employees with clear expectations, transparent communication, and opportunities for growth and development, organizations can create a more engaged and motivated workforce. This, in turn, can lead to higher levels of job satisfaction, lower turnover rates, and a more positive company culture.
Another significant benefit of workforce management is its ability to help organizations make more informed decisions. By collecting and analyzing data on employee performance, attendance, and other key metrics, companies can gain valuable insights into their workforce and identify areas for improvement. This data-driven approach can help businesses make more strategic decisions, such as where to allocate resources, which processes to optimize, and how to enhance overall performance.
Finally, workforce management can also play a crucial role in compliance and risk management. By ensuring that employees are correctly classified, schedules comply with labor laws, and proper documentation is maintained, organizations can reduce the risk of costly errors and potential legal consequences. This not only protects the company from financial and reputational damage but also fosters a culture of accountability and responsibility among employees.
Overall, workforce management is a critical aspect of organizational success, with far-reaching implications for productivity, customer service, employee satisfaction, decision-making, and compliance. While it may be easy to dismiss it as a mere administrative function, the reality is that effective workforce management can be a powerful driver of growth and competitiveness. As such, organizations would do well to invest in the necessary tools, processes, and strategies to optimize their workforce management practices and unlock their full potential.
In Conclusion
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