Good productivity is the key to the success in any organization. Enterprises are striving hard to enhance the productivity of their employees, reduce costs and improve business process efficiency. They are increasingly adopting solutions which help them to achieve this goal.
The Europe workforce management software market was recently valued at USD 1.09 billion and is projected to reach USD 2.16 billion by the end of 2021, at a CAGR of 12.03% over the five-year forecasted period.
Europe had an employment to population ratio of 63.1% in 2011 and it had decreased to 63% in the year 2012. This decrease in the employment could be a reflection of various parameters such as the economic slump, stricter immigrations policies, etc. but, one of the pressing issues concerning Europe is the aging of the population. This might affect the industrial production and will surely not help the economy. One of the solutions to the aging problem is to improve the productivity of already present workforce so that in the future, the economy is not affected negatively. Workforce management software will help this region in this respect to increase the efficiency of the present workforce.
Workforce management software solutions help in addressing these concerns with features like HR Administration, talent management, labor budgeting, workforce tracking and several others. Increasing adoption of ERP solutions and focus on productivity are some of the driving factors contributing to the growth of this market. The usage of these solutions is not limited to any particular industry vertical. Instead, the adoption rate is growing across the enterprises operating in different sectors.
The workforce management software includes features like payroll and benefits, HR administration, employee self-services, time and attendance, performance management, forecasting and scheduling, labor budgeting, workforce tracking, and others.
Workforce management also encompasses field service management that includes elements like, demand management, workforce scheduler, workforce dispatcher, and mobile solutions. The intention behind using the workforce management software is to make the company’s workforce as productive as possible, reduce labor costs, and improve customer service.
Growing focus on maximum productivity, increasing adoption of ERP and analytical solutions, and supportive industrial regulations and legalities are some of the factors contributing to the growth of the market. However, general implementations or execution issues with the software are something that might hinder the demand growth of the workforce management software market in Europe.
The European market for workforce management software solutions has been broadly segmented on the basis of its deployment – on premise and on demand – and its applications have been described under different set of end-users such as manufacturing, retail, energy, government, travel and transport, and others.
The market has also been segmented into different countries of the European region as the UK, Germany, France, Spain, Italy and others.
Some of the major vendors mentioned in the report are SAP, Oracle, Kronos, ADP, Hydra Management and Reflexis. There are some other vendors like Better Plan, Asure Software, Calabrio, Conrep, Sierra Data Systems and Kappix who are serving the market with their unique offerings.
Key Deliverables in the Study