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2024 Workforce Management for the Enterprise in the Digital Era

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    Report

  • March 2024
  • Region: Global
  • DMG Consulting LLC
  • ID: 5305190

Artificial intelligence (AI), automation, and the need for new capabilities to address asynchronous and digital interactions are driving a welcome transformation of these solutions. The enhancements are valuable because they improve contact center performance, lay the groundwork for a new generation of workforce management (WFM) solutions born in the cloud with AI at their core, and focus on employee empowerment to reduce agent attrition.

Contact center digitalization, AI, the cloud, and adoption outside of contact centers drive the reinvention and growth of the WFM market 

The pace of innovation in the WFM market, driven by AI and automation, is rapid and picking up momentum as this IT sector’s size and opportunity grow. AI is key to modifying and enhancing WFM solutions to enable them to properly address the needs of advanced contact centers and other operating environments that handle voice and digital synchronous and asynchronous interactions. AI-based forecasting algorithms and simulations leverage a variety of AI technologies and proprietary models developed by the WFM vendors to provide more accurate forecasts. Enabled by the processing power of the cloud, next-gen WFM solutions can make real-time suggestions and changes in forecasts and schedules previously bogged down in administrative oversight, reducing overhead costs while improving the customer and employee experience (CX/EX).

Workforce management solutions remain essential contact center productivity tools, but today they are equally important for boosting employee engagement. WFM solutions have changed significantly in the past few years, transitioning from applications intended to structure and control agent schedules into systems that empower employees with greater levels of flexibility delivered via self-service. At the same time, management has new capabilities, including salary arbitrage and gamification points, to motivate agents to accept hard-to-fill hours. Agent empowerment is a growing area of focus for WFM vendors who are delivering employee self-service capabilities via enhanced mobile apps which include flexible shifts/shift swap options, and new ways to bid for hours and time-off.

Comprehensive and insightful coverage of this rapidly changing sector 

The 2024 Workforce Management for the Enterprise in the Digital Era report provides an insightful analysis of the contemporary WFM market, competitive landscape, product suites, and the business, market, and technology trends and challenges confronting contact centers in light of complex omnichannel operating environments, rising CX requirements, workforce expectations, and market innovation that is being driven by AI. The Report analyzes WFM market activity and provides five-year market projections. The Report is designed to help contact centers, back offices and branches, IT, and enterprise leaders and managers in small, mid-size, and large companies select the right solution, technology, functionality, and partner to meet their organization’s current and future WFM needs. The 2024 Workforce Management for the Enterprise in the Digital Era report features four WFM vendors: Alvaria, Calabrio, NICE, and Verint. Assembled is covered at a higher level.

The Report Includes:

  • WFM suite functional components, including core and optional modules offered in the four featured WFM suites
  • Market, business, and technology trends and challenges that are driving product innovation and influencing enterprise investments
  • WFM vendor innovation, including a review of recently introduced features and functionality and what is planned for the next 12 -18 months
  • Exploration of how AI is being utilized to improve the accuracy, flexibility, and usability of next-gen WFM solutions, and how it is a key enabler of delivering an improved CX and EX
  • Examination of how WFM solutions are being enhanced to meet the complexities of omnichannel and multi-skill forecasting and scheduling given increasing workforce requirements and the need for solutions that address the functional requirements of departments beyond contact centers
  • Explanation of how real-time adaptive intraday management dynamically automates the response to real-time variances to optimize agent resources based on demand
  • Discussion of the WFM modules that improve agent engagement, empowerment, and retention, including self-service and gamification
  • How strategic long-term planning, hiring management, and workspace allocation are instrumental in projecting and optimizing staffing, budgetary, and capacity requirements
  • Review of back-office and branch WFM capabilities
  • WFM market activity analysis, adoption rates, and five-year market growth projections
  • Assessment of the WFM competitive landscape
  • Vendor pricing for a 250-seat cloud-based voice and digital channel WFM implementation for core forecasting and scheduling plus incremental costs (if applicable) for intraday management, real-time adherence, agent self-service, vacation/time-off management, eLearning/meeting management, long-term strategic planning, hiring management, workspace allocation, gamification, mobility, back-office, and branch WFM
  • Detailed company reports analyzing the products, functionality, and future product development plans of the vendors covered in this report
  • WFM Vendor Directory

Please note: A customer license letter agreement needs to be signed prior to delivery of this product. This letter will be sent to you via email after your order is placed.

 

Table of Contents


1. Executive Summary2. Introduction
3. Research Methodology
3.1 Report Participation Criteria

4. Workforce Management Functional Overview
4.1 WFM Vendor Suite Overview

5. 2024 Workforce Management Market Trends and Challenges
5.1 2024 WFM Trends
5.2 2024 WFM Challenges

6. Workforce Management Market Innovation
6.1 New Features
6.2 Future Enhancements

7. Meeting Demand: The Omnichannel Forecasting and Scheduling Challenge
7.1 Omnichannel Workforce Management Operational Requirements
7.2 Omnichannel Forecasting
7.3 Shrinkage
7.4 Agent Scheduling Strategies
7.5 Omnichannel CX Management

8. The Intraday Management Balancing Act
8.1 What Is Adaptive Intraday Management?
8.2 Real-Time Adherence
8.3 eLearning/Meeting Management: Using Downtime Effectively

9. Agent Engagement, Enablement, and Empowerment Improves the CX
9.1 User Experience
9.2 Agent Self-Service
9.3 Gamification

10. Laying the Foundation for Success
10.1 Long-Term Strategic Planning
10.2 Hiring Management
10.3 Workspace Allocation

11. Back-Office and Branch Workforce Management
12. Workforce Management Market Activity
12.1 Validating Market Numbers
12.2 WFM Market Share Analysis

13. WFM Adoption Rate14. Workforce Management Projections
15. Workforce Management Competitive Landscape
15.1 Company Snapshot

16. Pricing
16.1 Cloud-Based Pricing

17. Company Reports
17.1 Alvaria
17.2 Assembled, Inc.
17.3 Calabrio
17.4 NICE
17.5 Verint Systems

Appendix
  • Workforce Management Vendor Directory
List of Figures
Figure 1: Enterprise WFM Suite Components
Figure 2: High-Level Product Information
Figure 3: 2024 WFM Trends
Figure 4: 2024 WFM Challenges
Figure 5: New Product Features
Figure 6: Future Enhancements, by Category
Figure 7: Changing Customer and Employee Expectations
Figure 8: AI Enhances WFM
Figure 9: Artificial Intelligence and Generative AI
Figure 10: Omnichannel WFM Operational Requirements
Figure 11: Omnichannel Forecasting
Figure 12: Shrinkage
Figure 13: Omnichannel Scheduling
Figure 14: Omnichannel CX Management
Figure 15: Real-Time Adaptive Intraday Management
Figure 16: Real-Time Adaptive Intraday Management
Figure 17: Real-Time Adherence
Figure 18: eLearning/Meeting Management
Figure 19: The Agent Attrition Cycle
Figure 20: User Experience
Figure 21: Scheduling Flexibility Empowers Agents
Figure 22: Agent Self-Service
Figure 23: Benefits of Gamification
Figure 24: Gamification
Figure 25: Long-Term Strategic Planning
Figure 26: Hiring Management
Figure 27: Workspace Allocation
Figure 28: Top Back-Office Goals
Figure 29: Back-Office/Branch
Figure 30: WFM Market Activity, as of December 31, 2023
Figure 31: WFM Market Share by Number of Seats, as of December 31, 2023
Figure 32: WFM Market Share by Number of Seats, as of December 31, 2023
Figure 33: Total Number of WFM Seats and Customers, 2023 vs. 2022 Comparison
Figure 34: Total Number of WFM Seats, 2014 - 2023 Trends
Figure 35: WFM Revenue Projections, 2024 - 2028
Figure 36: WFM Competitive Landscape
Figure 37: Company Information as of December 31, 2023
Figure 38: Pricing for a 250-Seat Contact Center; Cloud-Based Voice and Digital Channel Solution

Samples

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Companies Mentioned

  • Alvaria
  • Assembled, Inc.
  • Calabrio
  • NICE
  • Verint Systems