Coresight Research: 2023 Innovator Matrix for Retail Workforce Management
The top 10 private US workforce management providers, scored on innovation and market potential from a field of 150-plus companies.
Key findings
- The global workforce management market totaled an estimated $47.1 billion in 2022 and is projected to reach $77.2 billion by 2027.
- For nearly three in 10 (28%) global employers, poor labor forecasting and scheduling creates a meaningful revenue loss of at least 10%.
- 82% of organizations that adopted digital workplace applications reported improved sales conversion, and 79% reduced operational costs.
Summary
Retail faces a tight labor market with high turnover, staff shortages, and competition for hourly workers, alongside growing demand for flexible schedules. Understaffing, excess overtime, and inaccurate labor forecasting harm customer experience, raise costs, and pressure profitability, pushing retailers to adopt AI and ML-powered workforce management technology.
This report from Coresight Research identifies and scores the top 10 private US workforce management providers on level of innovation and market potential. Analysts screened 150-plus pre-IPO companies using a nine-criteria proprietary methodology, drawing on company reports, Crunchbase, and Coresight Research surveys of mid-sized to large global employers conducted in September 2021.
What you’ll learn
- The key trends reshaping retail workforce management and the opportunities of adopting a dedicated solution.
- How the top 10 US workforce management players compare across communication, payroll and task management, and scheduling.
- The nine-criteria methodology Coresight Research used to score vendors on innovation and market potential.
