ASK THE EXPERTS
WFM, HR & PAYROLL – A WORTHY TRIUMVIRATE?
Andrew Busby, retail sales specialist and writer, discusses the importance of human capital management (HCM) and why retailers should be looking to exploit the greater benefits of HCM automation
“
One of the topics currently fascinates me are the generational changes that are forecast in the
workplace,” said Busby, who is a former retailer, having held senior IT positions at Kingfisher and Superdrug. Jon Andrews, a partner at PwC and head of its
human resources (HR) Consulting practice in the UK, recently contributed an article in HR Review in which he pointed out that, by 2020, millennials (people born between 1980 and 1995) will represent more than half of the working population in the UK and that one of the major differentiators between millennials and previous generations is their use and knowledge of technology. Busby commented: “Research has shown that
the millennial generation place higher priority on workplace flexibility, work/life balance and the opportunity for overseas assignments over financial rewards, when compared with other generations. And apparently it isn’t just younger workers reshaping the workplace. “In the UK, where there is no default retirement
age and a phasing out of final salary pension schemes is in progress, the older generation will be extending their working life and it won’t be unusual to see a 17 year old and a 70 year old on the same team; presenting real challenges for managers and HR.” Busby cited a typical case in point. “A young
friend of mine wants to earn some money prior to going to university and has two part-time jobs, both at well known fashion retailers. One she likes, the other she detests. While with the former she has flexibility, can bid for shifts, choose her hours and do all of that when and where it suits her (in other words from her smartphone), with the latter she has no flexibility and the shifts and hours are dictated to her. She dislikes the inflexibility, the feeling that she does not have control of her working life. “The more organisations can personalise value
propositions for each employee in terms of what matters to that individual, the easier it will be to keep them engaged so they can retain and motivate their employees.
14 Spring/Summer 2014 With more flexible working practices for
individuals – it will become crucial for employers to have an accurate record of hours worked and the ability to schedule employees in the most cost- effective and productive way possible. “Technology will play an important part in this
revolution and it will be crucial to take advantage of the latest workforce management [WFM] technology in order to keep up with the changing face of the workforce,” he added. “Not only that, but to also understand the delineation between WFM and its other two key partners in the human capital management triumvirate – HR and Payroll.” So, what are the implications of all this for retail?
Retail is undergoing a seismic shift in many ways and in almost all instances, technology is enabling that change
Busby suggested they would be significant. “As more and more retailers understand the value of their workforce and no longer view them as a cost burden but a strategic asset, the way they manage their workforce will become ever more important,” he said. “Many well known High Street retailers, especially (but certainly not limited to) fashion retailers, almost exclusively employ a younger workforce on the frontline in their stores in order to reflect the brand values and culture. These younger millennials are an excellent example of the behaviour described above. “Retail is undergoing a seismic shift in many ways and in almost all instances, technology is enabling that change. In the case of WFM systems this is no different. Long regarded as mere Time & Attendance systems to accurately record hours, WFM should now be seen as an integral part of the triumvirate, integrating seamlessly and taking feeds from both HR and Payroll. “As the need to have one version of the truth
and to have visibility of stock, sales and customer behaviour becomes ever more critical, so does the need to have an effective fully integrated WFM system in order to align staff levels with customer demand. Understanding the subsequent benefits in terms of employee engagement and customer experience is vital in order to fully appreciate the value of and need to invest in a WFM system.”
www.retailtechnology.co.uk
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