Effective workforce planning can give companies of any size a strategic advantage. Yet, according to Deloitte’s 2015 “Global Human Capital Trends” report, only 5% of HR professionals rank their workforce planning process as “excellent,” while nearly 60% call it “weak.” A third of those surveyed said their planning process is “adequate.”
With the improved economy, many companies are going through a growth spurt to meet the needs of increased demand in their markets. Too often I see this need for growth trigger a hiring frenzy, with little thought or planning to ensure that skill sets hired will meet future as well as current needs. There just isn’t time. Workforce planning forces us to take a step back and think about the needs of the future so that we can hire and develop strategically.
Workforce planning, as defined by businessdictionary.com, is the “systematic identification and analysis of what an organization is going to need in terms of the size, type, and quality of workforce to achieve its objectives. It determines what mix of experience, knowledge, and skills are required, and it sequences steps to get the right number of people in the right place at the right time.”
Workforce planning can include operational considerations such as work schedules and hours, distributing talent among divisions and departments, identifying functions no longer needed and reassigning workers, and maintaining employee engagement. The more strategic side of workforce planning looks at identifying skill sets needed as the company grows and changes, transferring company knowledge as employees leave, and defining recruitment strategy for future workforce needs. Specific policies and practices around promoting from within, career paths, and development can also be a part of it.
An effective workforce plan can ensure that you have talent in the pipeline when you have an immediate need. It can improve your bench strength by helping you identify and prepare future leaders. And it can help ensure that you are ready for future opportunities.
If you’d like to discuss how workforce planning can help you achieve your objectives, please contact me.