Top 10 HCM Software Vendors In Workforce Scheduling Market Segment

Workforce Scheduling market segment is expected to reach $1622 million by 2020

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This report ranks the Top 10 HCM software vendors in Workforce Scheduling market segment as part of Workforce Management product group. These top 10 vendors are ranked by their latest annual product revenues attributable to that particular market segment.

It also summarizes the market outlook and our forecast assumptions at the group level and for that segment, respectively.

The top 10 Workforce Scheduling software vendors accounted for 28.5% of the Workforce Scheduling market segment which topped $1278 million in license, maintenance and subscription revenues.

Here are the Top 10 HCM software vendors in Workforce Scheduling market segment based on their latest annual product revenues. Check the methodology section below as well as our FAQ section on how we conduct research for these Top 500 market reports.

Rank Vendor 2015 Product Revenues In Workforce Scheduling Market Segment, $M 2015 Share In Workforce Scheduling Market Segment, %
1 Kronos Incorporated Subscribe Subscribe
2 Verint Systems Inc. Subscribe Subscribe
3 Nice Systems Subscribe Subscribe
4 Subscribe Subscribe Subscribe
5 Subscribe Subscribe Subscribe
6 Subscribe Subscribe Subscribe
7 Subscribe Subscribe Subscribe
8 Subscribe Subscribe Subscribe
9 Subscribe Subscribe Subscribe
10 Subscribe Subscribe Subscribe
Other Subscribe Subscribe
Total 1278 100%

Source: Apps Run The World, December 2016

Workforce Management Outlook

Here are our current market forecast for the Workforce Management segments through 2020. Through our forecast period, the Workforce Scheduling market segment as part of Workforce Management product group is expected to reach $1622 million by 2020, compared with $1278 million in 2015 at a compound annual growth rate of 7%.

Click on each of the following segments to drill down the vendors that cater to those markets.

Exhibit 2 – Worldwide Workforce Management Applications Market Forecast 2015-2020 By Subsegment, $M, and Compound Annual Growth Rate, %

Workforce Management Segments 2015 2020 CAGR, %
Absence Management 359 515 11%
Fatigue Management 143 165 4%
Scheduling 1278 1622 7%
Task Management 214 290 10%
Time & Attendance 1312 1584 6%
Workforce Analytics 302 460 13%
Total 3608 4636 8%

Source: Apps Run The World, December 2016

In Workforce Management, any tangible productivity gain will have to be achieved through the development of a trusting culture that places a premium on job stability, positive employment experience and predictable business outcome over constant turnover, cost-based labor relation, and inconsistent results due to staffing gaps.

Similar to potential changes to the ACA legislation, the Overtime Pay rule in the United States could also be pared down. The Overtime Pay rule, which was scheduled to be enacted on December 1, was delayed following an injunction filed by a federal judge. The delay now leaves employers without a clear reason to invest in new time and attendance tools to better track the hours for certain workers in case of needing to pay them mandatory overtime.

Regardless of the outcome, the HR risk profile for any employer will only increase without the use of robust workforce management applications to optimize staffing levels, while giving workers more reasons than ever to stay put.

TOP 10 WORKFORCE MANAGEMENT SOFTWARE VENDORS

Take Ikea as an example, the Swedish-based home furnishings retailer in December 2016 announced up to four months paid parental leave to its US workers. Already, the use of absence and leave management systems is going up as more employers choose to extend flexible paid leave for parents of both genders.

In 2015 Macys adopted Kronos apps for self-scheduling among its army of store associates, boosting their morale. That raised the ante among other retailers that have been wrestling with the risks of giving their workers too much control over their schedules. Still, some big employers like Sodexho are considering following Macys’ move.

At a time when employers are trying desperately to become employee-friendly in order to better differentiate themselves in the eyes of new and existing hires, smart use of workforce management applications will allow companies to optimize visibility into their HR risk profile perhaps on a real-time basis, capturing signals that if unheeded could cost them dearly in the long run.

Again, as we get back to the trials and tribulations of the builder aiming to drive better returns for its long-term care facilities, while ensuring that the organization has the right system in place to accommodate the needs of its residents as well as its employees, one thing is clear.

Not doing anything is no longer possible as all employers are buffeted by technological, people and macro events that are reshaping our 22 HCM segments in what promises to be a tumultuous 2017.

Workforce Management Market Definitions and Forecast Assumptions

Human capital management includes such functions as eRecruiting (applicant tracking), Onboarding (employee profile), Performance Management (assessment, goal management, succession planning), Core HR (personnel administration, benefits, compensation management, payroll), Workforce Management (absence management, activity tracking, scheduling, time and attendance), and eLearning (learning management system). For complete definition, please see below or visit our Taxonomy page.

Drivers and inhibitors behind our Workforce Management applications market forecast assumptions include:

  1. Digital transformation in response to new user demands, market forces
  2. Restructuring of HR processes to accelerate for next decade
  3. Anticipate, execute WFM measures to address human capital risks
  4. Heavily modified WFM systems entail rising costs
  5. Unbundling of work, requiring better measurement of tasks, risks as well as scheduling and time and attendance.

Inhibitors include hardware not in sync with software release cycles

  1. Analytics fall short of expectations
  2. Shifting regulatory and compliance demands prompt stopgap measures
  3. Eroding trust in the workplace, lack of employee engagement
  4. Bring Your Own Device trend engenders WFM system distrust as well

Further Readings

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Methodology

Similar to any of the hundreds of reports that we have published since 2010, HCM Top 500 is a labor of love. Since 2013, our team of researchers have been conducting rigorous research on thousands of HCM vendors, surveying them quarterly, reviewing their products at even shorter intervals because of the compressed Cloud release cycle, and discussing HR vision with their customers to better understand user needs as well as different paths to upgrade and replace their existing systems.

Each year we also attend many industry-wide and vendor-specific user conferences – HR Tech, Dreamforce, SAPPHIRENOW, Oracle Open World, just to name a few, to gauge what customers are looking for.

Throughout this process comes a rich database of more than 2,000 HCM vendors as well as over 50,000 HCM customers that have been touched one form or another through regular surveys, phone and in-person interviews, email exchanges, and social media interactions, etc.

On a proactively basis, we contact the vendors directly to tabulate their latest quarterly and annual revenues by HCM segment, vertical market, revenue type, region, country and customer size.

We supplement their written responses with our own primary research to determine quarterly and yearly growth rates in each of the 22 segments and 21 verticals, in addition to customer wins to ascertain whether these are net new purchases or expansions of existing implementations.

Another dimension of our quantitative research process is through continuous improvement of our customer database, which stores more than one million records on the enterprise software landscape of over 100,000 organizations around the world.

The database provides customer insight and contextual information on what types of HCM, enterprise software systems and other relevant technologies are they running and their propensity to invest further with their current or new suppliers as part of their overall HCM and IT transformation projects to stay competitive, fend off threats from disruptive forces, or comply with internal mandates to improve overall enterprise efficiency.

The result is a combination of supply-side data and demand-generation customer insight that allows our clients to better position themselves in anticipation of the next wave that will reshape the HCM marketplace for years to come.

HCM Market Taxonomy

From hire to retire, HCM continuum extends across 22 markets, 21 verticals
From hire to retire, HCM continuum extends across 22 markets, 21 verticals

Definition of Human Capital Management (HCM) Applications

Core HR and Performance Management
Core HR and Performance Management Description
Personnel & Organization Management Core human resource management system, personnel records, HR master file, accruals, organizational development, org chart visualization
Payroll Payroll processing, tax filing, language support, country-level updates, payslip calculations, automatic deductions and other government requirements for proper disbursement of employee compensation.
Benefits Administration Benefits and health administration. Plan and design benefits lifecycle, billing and payment. Carrier solutions are also included for integration purposes.
Pension Administration Pension and retirement fund(401K) administration as well as software that helps manage profit sharing plan, defined benefit plan, or cash balance plan.
Compliance Compliance, regulatory updates and reporting including such laws as Affordable Care Act, Overtime Regulations, Fair Labor Standards Act
Performance & Goal Management HR performance management applications are designed to automate the aggregation and delivery of information pertinent to the linking of job roles and the mission and goals of the organization. More specifically, the system allows users to automate the performance review process by using mechanisms such as training and key performance indicators to continuously track and monitor the progress of an individual employee, work team, and division. Some of the key features include: Assessment of individual career objectives and organizational skills gaps that impede performance and job advancement. Continuous reviews and establishing milestones. 360-degree evaluation and real-time feedback. Performance appraisal automation. Goal setting and tracking. Employee surveys. Alignment of human assets to corporate objectives. Fast tracks for top performers.
Learning & Development Learning management systems refer to applications that automate the administration, tracking, and reporting of training events. Other tools may include courseware and other delivery, management, tracking, or integrated solutions whose focus is on the learning environment, including learning content management systems. Career development tools include apps for coaching, mentoring, employee development planning, and diagnosing of development needs.
Succession & Leadership Planning Identify and address current and potential talent gaps to create succession management reporting. Develop and maintain a continuous supply of internal talent to fill critical job roles. Improve employee engagement through digital tools to advance career path development opportunities.
Compensation Management Compensation management applications are designed to automate the process of providing cash, noncash, variable and nonvariable compensation to employees through advanced modeling, reporting, and built-in interfacing to payroll processing systems. Other key features include seamlessly manage compensation budgets and allocation in a single, shared tool. Streamline pay recommendation workflows and approvals. Support multiple pay and incentive practices. Ensure budget compliance and adherence to compensation guidelines. Quota and territory management. Calculation and distribution of commissions, spiffs, royalties, incentives to employees, and channel and business partners. Compensation analysis using internal and external data for retention risk analysis. Linking salary, commission and incentives — cash and noncash — to business objectives. Payroll and payment engine interfaces. Account payables integration.
Talent Acquisition 
Talent Acquisition Description
Applicant Tracking Applicant tracking software automates such functions as management of resumes, applicant information, scoring, workflow, matching, search, interview scheduling, job descriptions, EEOC reporting, job postings and notifications
Recruiting Recruiting applications are designed to automate the recruitment process of salaried and hourly employees through screening and skills assessment, as well as automated selection processes to improve hiring pipeline by identifying talent inside or outside the organization. Other key features include: Manage skills inventories. Create and manage job requisitions. Coordinate team collaboration within hiring processes. Video Interviewing, team building and digital coaching.
Marketing Applications designed to attract and engage candidates and employees. Other tasks automate functions such as candidate relationship management apps, career site technology, social recruiting, employee referrals, branding, video engagement, campus recruiting and internal hiring
Contingent Labor Management Processing of hiring of contingent labor, search, skills matching, assessment, interview scheduling, negotiation of rates, approvals, project milestone payments, project completion tracking, performance ratings
Sourcing Facilitate resource planning for staffing firms as well as vendor managed system, allowing for front office integration for employment agencies as well as talent acquisition apps designed for staffing firms.
Onboarding Applications designed to deploy workers to appropriate jobs, projects, or teams for accelerated on-boarding.
Workforce Management
Workforce Management Description
Absence and Leave Management Absence management applications offer automated features to support employee leave management, employer authorized leave, Short-Term-Disability/Workers’ Comp coordination, federal and state compliance, customized leave correspondence, medical certification processing, insurance premium payment tracking as well as employee self-service capabilities. Leave Management supports compliance activities related to government regulations such as the Family and Medical Leave Act in the United States and other local leave laws in different countries.
Workforce analytics Workforce analytics are used to analyze compensation, benefits, and other employee variables. These applications can also be used to analyze and optimize labor allocation for particular projects.
Fatigue Management Fatigue Management apps help automate key facets of fatigue risk mitigation, enforcing employee work-hour limits and aligning with fitness for duty best practices. Similar apps may act as electronic work diaries for real-time reporting and compliance with transportation laws.
Hardware (Time Clock) Time capture is the hardware platform that provides authentication features for clock-in and clock-out times, meal and rest breaks, as well as timesheet and payroll reporting and compliance.
Workforce Scheduling Products are designed to Increase forecasting accuracy by factoring in a variety of methods and historical patterns. Create optimal schedules to meet customer demands, while reducing costs and maximizing resources
Task Management Task Management offers labor management capabilities such as task-based and project-based activity tracking as well as measurement and reporting functions against performance standards like engineered labor standards, team standards and reflective standards.
Time & Attendance Time and Attendance applications are designed to automate employee time tracking in different locations, help reduce overtime expenses, improve payroll accuracy, eliminate pay errors and adjustments, along with the need to simplify and optimize administrative tasks and complex rate calculations by making available accurate and current labor data and full audit trail of payroll data.