WFM In Tough Economic Times

This white paper from Axsium discusses the current global economic crisis and the effects it has had on the workforce and businesses including mass layoffs, suspension of expansion plans, and store or plant closings. Businesses are being forced to cut as much as possible to remain afloat, but just cutting costs and capital spending is not necessarily a recipe for success in the post-recession world. This paper notes, “…the organizations that survived, and even thrived, during past recessions were able to resist wholesale layoffs and cost cutting, choosing instead to change business practices to focus on innovation and improved productivity.”

Leading employers will look to innovative and non-traditional approaches to reducing labor costs. This includes methods such as reducing hours and job sharing, but others may take it one step further, utilizing Workforce Management (WFM) tools to allow them to automate and rationalize processes involved in forecasting, budgeting, scheduling, and tracking labor.

A recession can have a positive impact on businesses that make it through it, forcing these organizations to investigate innovative ideas and implement new efficiencies that might otherwise be overlooked in more prosperous economic conditions.

Download this white paper from Axsium below to read more.