What is workforce planning?
Workforce planning refers to the process of analyzing the needs of an organization, such as their current staffing levels, anticipating future hiring needs, and other requirements regarding the size, type, experience and knowledge of its workforce.
Additionally, strategic workforce planning helps analyze the training needs of an organisation’s current and future employees and aligns their recruitment strategy with the company’s strategic goals.
Benefits of workforce planning
Workforce planning is basically about having the right people, in the right place, at the right time in order to deliver an organization’s business goals. A strategic workforce plan provides a foundation for HR decisions. So of the benefits of workforce planning includes:
- The ability to effectively and efficiently identify the best role fit for an employee’s skills at work.
- To make effective plans while keeping in mind the demographics of the workforce to ensure business continuity.
- To enable proactive management.
- Developing alternative courses of action to meet the changing market trends.
- Ensuring that all managers have sufficient information available to them to effectively manage business costs.
- To assist in leave management and planning.
- Planning the skills development of existing staff.
- Planning training expenditure to receive value for more and benefit to the individual and the organization.
- Understanding issues associated with retention and turnover, so that changes in staff are managed appropriately with minimal impact on the workforce and the business.
Steps to successful strategic workforce planning
- Consider the long-term goals of the organization
- Analyze the organisation’s current workforce
- Determine future skills gaps
- Prepare for different scenarios
- When in doubt, ask for external advice
- Keep the company culture in mind
- Monitor and adapt