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10 Best Workforce Planning Software for C-level Executives in 2023
Responsible growth requires efficient strategic workforce planning. Discover 10 best workforce planning software for C-level executives to plan effectively
10 Best Workforce Planning Software for C-level Executives in 2023
In today's fast-paced business world, effective organizational strategy requires efficient strategic workforce planning. As CFOs and CHROs strive to allocate resources and budget wisely, workforce planning and workforce management softwares have become indispensable. This blog post will present a comprehensive review of the top 10 best workforce planning software for CFOs and CHROs in 2023, providing details that will help you choose the best tool for your organization.
What is Workforce Planning?
Workforce Planning / Labor Planning / Headcount Planning / Staff Planning is a process that involves determining the appropriate number and types of employees needed to carry out business operations effectively. This strategic approach to managing the workforce ensures that a company's staff resources are in line with its business objectives. Although related to workforce management, workforce planning or Headcount planning to be precise focuses more on strategically aligning a company's workforce with its overall goals.
What's the Difference Between Workforce Management and Workforce Planning?
Although some use "workforce planning" and "workforce management" interchangeably, they hold different meanings.
Let's briefly clarify the contrast between the two.
Workforce Management encompasses:
- Ensuring the right individuals are in the appropriate positions.
- Tasks falling under workforce management include time tracking, employee scheduling, and payroll.
In contrast, Workforce Planning involves:
- Defining the organization's objectives and aligning them with its workforce.
- Identifying necessary steps to prepare for future staffing requirements and strategic workforce planning.
Workforce Management primarily addresses the present, whereas Workforce Planning centers on the future. For a more extensive explanation, you can refer to this comprehensive article.
For a more profound understanding, delve into our guide on Headcount Planning / Workforce Planning: How to do Headcount Planning (the Easy Way) Using Agentnoon.
Furthermore, although there is some overlap with succession planning, there exist notable distinctions when compared to workforce planning. To explore these disparities, please take a look at our article: "5 Powerful Steps to Do Better Succession Planning".
Why You Should Use a Workforce Planning Software
Managing workforce plans can be a gruelling task. However, workforce planning tools can make the job much easier and more efficient.
- Headcount planning tools help the Finance team avoid creating ten spreadsheets or more to manage each headcount plan
- By implementing workforce planning software, department leaders and executive teams can effortlessly collaborate and ensure that headcount plans align with the company's goals
- These tools offer a centralized approval area, which promotes accountability and traceability, ensuring all responsible parties are on the same page
- Additionally, workforce planning tools provide real-time financial implications, enabling businesses to grow responsibly
- Executives can also be assured that their data is secure, as the tools only allow authorized personnel to access sensitive information
10 Best Workforce Planning Software in 2023
Improving employee productivity is crucial for any company to maintain financial health, and using the right headcount planning software can help achieve this goal. But with multiple options available, it can take time to determine which is an excellent fit for your company. Let's start by exploring the top workforce planning softwares in the market.
Agentnoon is an innovative solution for headcount planning that provides headcount modeling, headcount spend forecasting, and headcount approval management capabilities to keep you informed. CFOs can make strategic decisions with a comprehensive overview of their workforce through Agentnoon.
The software offers a user-friendly interface, making it accessible to all team members, especially executive leaders.
One of the most impressive features of Agentnoon is its ability to integrate with 100+ HRIS tools, enhancing its functionality while allowing businesses to leverage their existing data and systems.
Agentnoon can help track your company's health in real-time and prevent unexpected headcount spending.
Rating: 4.8/5 (G2 Reviews)
Features & Benefits:
- Agentnoon offers a user-friendly and easy-to-use interface.
- The software integrates with over 100+ HRIS and other systems, such as Microsoft Excel, Google Sheets, Quickbooks, and BambooHR. Custom integrations through Webhook or REST API are also available.
- Agentnoon’s powerful analytics provide valuable insights into your headcount, and the multiple-scenario planning feature helps you make informed decisions.
- Offers real-time data that keeps you up-to-date for immediate decision-making, resulting in better workforce planning.
- Agentnoon also prioritizes confidentiality and makes headcount approvals a breeze.
Pricing: $199 per user per month for up to 200 employees. Enterprise plans are also available.
Get in touch and start accelerating your strategic workforce planning process.
Agentnoon was awarded the best workforce planning software in terms of Easiest to do business with and Best support when it comes to strategic workforce planning software in Spring 2023.
2. Excel - Google Sheets
Excel and Google Sheets are popularly used to organize, calculate, and store data. Both are widely accessible and easy to use, making them a common choice for many companies as a starting point for their workforce planning. Here's a free headcount planning template in excel for you.
- Easily customized to fit the user's needs, enabling them to create their calculations and formats
- User-familiar interface
- Accessible for most people to use without extensive training
- Google Sheets allows real-time collaboration, enhancing teamwork and productivity
- Lack of automation, leading to the increase in manual errors and inefficiencies
- Challenging to manage complex Human Resources (HR) tasks as the software is not designed for labor planning
- Limited integration with HR-specific software
- Difficult to scale when handling large volumes of data or complex calculations
- Microsoft 365 costs $2,000 monthly for up to 200 employees.
- Google Workspace for teams of up to 200 employees starts at $2,400 monthly.
Check the image below for labor planning template in excel:
3. Workday Adaptive
Workday Adaptive Planning is a cloud-based financial planning software that helps companies to plan and forecast their future performance. It provides tailored solutions covering financial, sales, and workforce planning.
- Offers a unified integration of HR and finance systems
- Strong forecasting capabilities
- User-friendly interface for easy use
- The setup process can be complicated
- Might be time-consuming to comprehend and use all its features fully
Pricing: Although the website does not provide specific pricing details, it has been estimated by multiple sources that the cost is at least $25,000 per year
Check the image below for Workday's workforce planning software:
4. Rippling Headcount Planning
Rippling is a centralized platform for HR, IT, and finance departments. It allows companies to streamline processes and improve communication and collaboration among teams that might otherwise be separated.
- Rippling’s system streamlines workforce management tasks
- Automated services for payroll, benefits, and expenses
- Basic workforce planning and approvals capabilities, all in one platform for HR tasks
- Smaller businesses may not require all the features and capabilities offered
- Limited integrations with other HRIS systems; it’s good if you use Rippling as your HRIS
- Headcount scenario modelling capabilities are limited
Pricing: Minimum $1,600 per month for teams of up to 200 employees.
Check the image below for Rippling labor planning software:
Orgvue's organizational design and workforce planning software deserves to be on this list. It allows companies to prepare for the future by monitoring and analyzing their people's data in real-time.
- Strong focus on workforce planning and headcount modelling
- Provides real-time analytics and data visualization
- Integration capabilities with HRIS and other systems are available
- Users who are not tech-savvy may need some time to learn how to use it
- Small to medium-sized businesses may find it expensive to use; targeted for 10,000+ employee companies
- Implementation takes several months; UX can be slow and hard to navigate
Pricing: The costs are not disclosed on the website. Various sources state that it’s between $50,000 - $500,000, depending on your company size.
Check the image below for Orgvue's workforce planning software:
6. SAP Success Factors
SAP SuccessFactors is an all-in-one human capital management (HCM) solution encompassing various essential HR processes. From payroll and benefits administration to time tracking and beyond, this comprehensive tool streamlines key HR functions, helping businesses to optimize their workforce management processes and drive greater efficiency and productivity.
- Provides various tools and functions to support companies’ needs
- Offers strong integration capabilities, particularly with other SAP products
- Scalable and customizable to serve businesses of all sizes
- Complicated training process to use the software effectively
- Costly for smaller businesses
- Not intuitive for department / executive leaders involved in the workforce planning process
Pricing: Based on multiple sources, it is estimated that the initial cost for SAP Success Factors is $30,000 - $50,000 per year for your workforce planning needs.
Check the image below for SAP labor planning software:
7. HiBob Workforce Planning
HiBob is an HR platform that blends multiple features with a user-friendly and contemporary interface. Its goal is to help HR teams optimize productivity, engagement, and retention.
- An integrated all-in-one solution if you are already using HiBob as your HRIS
- Simplifies everyday HR tasks
- Easy-to-use interface
- Lack of a data visualization feature for workforce plans and still resembles a spreadsheet
- Limited integration with other HR and business software
- May not provide as comprehensive workforce planning capabilities as specialized tools
Pricing: Exact pricing is only available when contacting the team directly. Estimated to be $8 per employee per month.
Check the image below for Hibob's workforce planning software:
ChartHop is a people ops platform for strategic workforce planning that consolidates people data from multiple sources. It helps businesses to effectively plan, analyze, and visualize their workforce.
- Good capabilities in visualizing data, allowing for a better understanding of the workforce
- Integrates with various HR and business tools
- Specialized tools may provide more detailed headcount planning than what is available in ChartHop's workforce planning software
- Implementation time and customer service have been slow in the past
- Smaller-sized businesses may find the cost to be high
Pricing: $1,600 - $3,200 per month for up to 200 employees.
Check the image below for charthop's workforce planning software:
TraceHQ is a platform designed to assist businesses with their financial planning and analysis needs. TraceHQ provides a more efficient way for finance, HR, talent, and hiring managers to work together on workforce planning, workforce management, recruitment progress monitoring, and data analysis.
- Offers integration with HR and finance tools, allowing efficient communication between departments
- Provides financial insights that aid in the decision-making process
- Strong modelling capabilities
- Good for Finance leaders but not very intuitive for executive leadership
- Some capabilities are overly complicated and not necessary for all users
- Limited visualization capabilities
Pricing: Exact pricing is only available when contacting the team directly.
Check the image below for TraceHq's headcount planning software:
10. Team Ohana
Team Ohana is an upcoming workforce planning tool that assists companies in managing their most valuable resource - their employees. With a strong emphasis on efficiency and ease of use, Team Ohana's workforce planning offers a variety of features that provide leaders with the information they need to make informed staffing decisions.
- Provides a centralized system for all people’s data, including budgeting and hiring
- Offers a collaborative hiring process for HR and Finance on the platform
- Delivers real-time insights and customizable workflows
- Less focus on HR administrative tasks
- Limited integration capabilities
- Essential plan: starting at $500 per month for up to 150 employees.
- Professional plan: starting at $15,000 for more than 150 employees.
Improve Your Workforce Planning Today
Effective workforce planning is crucial for any company to achieve its goals and objectives. Without proper planning, businesses may risk overstaffing or understaffing, which can negatively impact their bottom line.
Using the right tool, such as Agentnoon's workforce planning software, businesses can streamline their headcount planning process, effortlessly collaborate and ensure that headcount plans align with the company's goals. With available features of headcount modelling, headcount spend forecasting, and headcount approval management capabilities, Agentnoon is one of the top headcount planning software in the market, as the platform makes it easy to manage and optimize headcount planning.
Book a demo call with us and start building the workforce planning process you’ve always dreamed of!