It’s known by many names: time and attendance, time and labor, workforce planning, and workforce management. But workforce asset management points to an important evolution not only of the term, but of the entire practice. It signifies a switch away from the narrow “time” focus, and replaces it with a focus on a company’s assets: people and the technology that manages people. Workforce asset management professionals accept a more strategic role and pursue goals and objectives that are important to the entire business.
Workforce management systems affect how people are scheduled and compensated. They monitor and influence the location, length, and cost of their work and may even predict future absences and overtime. These systems produce huge volumes of data which go largely untapped. In a dynamic workplace, it is essential to have all of our resources working for us, not against us. Not only does poor use of technology make headlines, it also reduces the return on investment for the system. Workforce asset management professionals (WAM-Pros) use technology strategically—not as simplistic “plug and play” products, but as carefully crafted tools aimed to benefit both employer and employee.
Many roles practice workforce asset management. Even if you are not fully dedicated to the management of the technology or people, you can benefit from a better understanding of the practice and the lifecycle. For a list of the types of roles that may be a good fit for certification, see Eligibility.
The Workforce Asset Management Book of Knowledge or WAMBOK® (John Wiley and Sons, 2013), is the official guide for workforce asset management certification. The textbook establishes the core principles and standards of performance for professionals who use or manage WFM systems.
The material is vendor neutral and product agnostic, developed by a group of over 75 different contributors. These contributors ranged from university academics and policy advocates to practitioners, vendors, consultants, and system designers.
Although the WAMBOK® addresses technology issues, it should not be considered a strictly technical book. It also includes leading practices, case studies, and design tips. It is meant to be used as a reference guide on the job and in the boardroom, even after you become certified.
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