What Does WFM Stand for

what is WFM:

Is known as WFM to the initials of English origin to indicate “Worforce Management”, translated into the Spanish “workforce management”.

The WFM encompasses all processes or activities that a company uses in order to optimize the productivity of their employees, either at the level of the individual as in conjunction with the Department and the company, seen as a whole.

One of the main strategies for the management of the labour force is to observe the capacity and ability of the employee in order to assign a position that allows to give a better contribution to the company.

Usual, this management is executed and controlled by the members that make up the human resources Department of the company or customer relations management, known as customer relationship management (CRM). In which to carry out the management of the workforce focus on specific points such as:

payroll and benefits. Talent management. Learning management. Time and attendance at work by the official. Budgets for the work. Planning for crisis. Planning vacation and leave for employees. Employee performance.

On the other hand, the worforce management software allows you to manage the company through the use of the spreadsheets, or record of times, and even through a web portal, this is in order to work with a high level of effectiveness and productivity based on the service of the company and the employee preferences, since these can adjust their schedules according to their needs.

In relation to the above, the management of the workforce helps prevent excess or lack of labor, avoiding the loss in the company’s profitability.

Currently, the definition of worforce management evolved to another concept, known as worforce optimization (WFO).

On the other hand, the WFM initials indicate “Woman Fide Master”, is a title awarded by FIDE, only for women chess.

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