Workforce Asset Management Book of Knowledge

CHAPTER ONE

Introduction and Background

IN THIS CHAPTER, THE FOCUS is on defining Workforce Asset Management (WAM) and explaining some of its essential components. This chapter introduces not only the concept of WAM, but also further develops the conversation by explaining the need for WAM in current business practice, identifying the other areas and departments that can benefit from WAM, and tracing the evolution of the technology associated with WAM. This chapter encourages employers by connecting current or recurrent problems in the workplace to new, impactful methods and solutions. This chapter is intended to inspire and provoke employees to be a part of developing the role of the Workforce Asset Management Professional (WAM-Pro) and implementing these WAM solutions.

Learning Objectives

By the end of Chapter 1, you should be able to:

• Define Workforce Asset Management (WAM) and the four fields of management that converge into the cross-disciplinary specialty of WAM.
• Explain four primary reasons that WAM has become essential to twenty-first-century organizations.
• Identify the subdisciplines of management that have to be converged to achieve effective WAM.
• Understand what business skills are necessary to solve problems in the workplace using workforce management (WFM) technology.
• Locate potential gaps in organizational knowledge and resources related to WFM systems.
• Recognize the emerging and expanding roles and responsibilities of workforce management technology professionals. ...