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Innovator Intelligence: Maximizing Retail Profitability Through Mobile-First Workforce Management Software

Coresight Research

Key Points

This report is part of our Innovator Intelligence series, which focuses on emerging companies disrupting traditional retail and fueling innovation across the retail value chain. This report focuses on how workforce management (WFM) software solutions are addressing and solving for key specific retail pain points.

  • Mobile WFM is expected to be a major trend and one we think will gain traction in the near future as it becomes more nimble, more mobile and better able to digitalize what are now manual processes.
  • By 2025, 40% of large enterprises with hourly paid workers and variable demand for labor will use automation to drive workforce scheduling decisions, according to Gartner.
  • The global mobile WFM market is expected to grow rapidly as a result: It was estimated to be worth $3.4 billion in 2017 but is expected to reach $7.2 billion by 2023, according to Statista.

These are the key WFM benefits driving this growth:

  • Digitalization of the workplace, which cuts administrative costs, provides real-time workforce insights and reduces payroll errors, among other things.
  • More effective and accurate employee store staffing reduces labor costs as employee hours are used more effectively, and artificial intelligence (AI) data analysis improves scheduling effectiveness over time.
  • Mobile WFM tools have features such as the ability to choose shifts, giving employees more control and flexibility, which in turn results in better customer service and employee satisfaction
  • Communication features in mobile WFM solutions also make it easier for managers to communicate with employees, further driving engagement.

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