Written by kishanroy » Updated on: September 07th, 2024
IMARC Group has published a market research report titled "United States Workforce Management Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032", United States workforce management market size is projected to exhibit a growth rate (CAGR) of 9.50% during 2024-2032.
Workforce management (WFM) refers to the process of effectively managing an organization workforce to optimize productivity, efficiency, and overall performance. It involves various tasks and activities for maximizing the use of human resources while balancing the needs of the organization and its employees. It provides organizations with valuable data and insights into workforce trends, performance metrics, and operational efficiency. It enables companies to allocate resources, match employee skills to specific tasks, and streamline processes. It ensures adequate coverage for patient care in hospitals while complying with regulations related to staff-to-patient ratios and work hours. It helps retailers in scheduling employees for peak times, manage breaks and lunches, and improve customer service by having adequate staff on hand.
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United States Workforce Management Market Trends and Drivers
At present, the increasing work complexity and evolving nature of work, including remote work, gig economy participation, and flexible work arrangements, represents one of the key factors strengthening the growth of the market in the United States. Additionally, the growing importance of employee engagement and experience in driving productivity, retention, and overall business success is catalyzing the demand for WFM solutions that offer features, such as flexible scheduling, self-service capabilities, and employee feedback mechanisms. In line with this, ongoing advancements in technology, including artificial intelligence (AI), machine learning (ML), and data analytics, are enabling the development of more sophisticated WFM solutions, which is supporting the market growth in the US. Moreover, the growing adoption of cloud-based WFM solutions due to their scalability, flexibility, and lower upfront costs compared to on-premises solutions is offering a favorable market outlook in the country. Besides this, the rising number of small and medium-sized enterprises (SMEs) is driving the demand for workforce management to optimize their operations. Apart from this, the increasing employment of WFM in the banking and finance sector to hire tellers and customer service representatives based on branch traffic patterns and service demands is impelling the growth of the market in the country.
Report Segmentation:
The report has segmented the market into the following categories:
Component Insights:
Solution
Absence Management
Performance Management
Workforce Scheduling
Time and Attendance Management
Workforce Analytics
Others
Services
Implementation Services
Support and Maintenance Services
Training and Education Services
Deployment Type Insights:
Cloud-based
On-premises
Organization Size Insights:
Small and Medium-sized Enterprises (SMEs)
Large Enterprises
Vertical Insights:
Government and Defense
Banking, Financial Services, and Insurance (BFSI)
Healthcare
Transportation and Logistics
Telecom and IT
Consumer Goods and Retail
Manufacturing
Energy and Utilities
Others
Regional Insights:
Northeast
Midwest
South
West
Note: If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARCs information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the companys expertise.
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