We won't use your email for any other purpose. In an electric business … It takes time to master this strategic function – and the fact is that few organizations are currently proficient planners. What’s your plan?I am the Senior Vice President of Global Research at PageUp and co-author of the book 'CLIFFHANGER: HR on the Precipice in the Future of Work'. All members of the HR department should sit down and be involved in its planning, as well as maintain regular meetings for updates to the plans. As workforce plans hinge on effective forecasting, analysis and preparation, the failure to craft and implement an effective one will almost certainly deliver an adverse impact to a company’s ability to acquire, inspire and retain talent.For multinational corporations hoping to stay relevant and competitive, especially in the vibrant Southeast Asian market, now is the time to build workforce planning capabilities. Maybe that’s what the ultimate form of workforce planning should take, in an ideal world.Try Personio 14 Days for Free – Digitalize Your HR Now The challenge for most organizations is that a growing workforce comes with increasingly disparate and complex data that requires a dedicated focus to maintain its integrity and reliability.

These are questions that HR leaders seek to address as part of workforce planning.

In fact, of nearly 700 respondents to our Philippines survey, 95% admit that workforce planning is either business-critical or of high importance, but only 31% claim to be able to execute it effectively. You may be wondering: what’s the difference between workforce planning and people analytics? Workforce Planning . With your staff effectively and strategically managed, your business will have the right staff working in the right place at the right time, so productivity soars. From a holistic standpoint, the company can determine the right direction, pursue the correct strategies and enact appropriate tactics.In the war for top talent, workforce planning is the War Room of HR. This type of detrimental impact can be difficult to recover from, depending on the product or service offered.There are two main pros of workforce planning, first being that companies can avoid the need for mass layoffs in the case of surplus staffing. What is workforce planning, and how do you do it? In the case of a surprise turnover, good workforce planning helps ensure there is a qualified individual available to take on that job in as little time as possible.By being able to forecast and plan for a business’ needs, companies can maintain and ensure their success over the long haul.

This not only saves the company money but can also help prevent negative hits to employee morale. Simply reacting to events as they happen is not a recipe for success. I am a regular national and international speaker on neuroscience, talent and human capital management, and have addressed audiences in Boston, Singapore, Kuala Lumpur and across Australia. And even if we are able to track the skills that our employees currently have, running a thriving business by matching skills to business needs and pay grades is no longer enough. It incorporates all the elements of talent management and problem-solving functions. Workforce planning is a must for modern organizations that want to maintain a competitive edge. Workforce planning is the most strategic people management activity to take place within an organization. Even with state-of-the-art HR technology in place to capture, track and mine the data, very few organizations possess the analytical and interpretive skills necessary to transform this into meaningful outputs. Strategic workforce planning usually covers a forecast period of around 3-5 years.

UVA defines workforce planning as having the right talent in the right job at the right time. Some companies may prefer to keep all functions internal for that reason.Keeping an eye on the bigger picture and planning for the future is ultimately the goal and priority of good workforce planning.

It also highlights capability gaps and future leadership bench strength. Here’s a look at how workforce planning works, examples, benefits of workforce planning, and everything you need to know to implement workforce planning for your company.Workforce planning is a systematic organizational process which consists of proactively planning ahead to avoid talent surpluses or shortages. This step involves linking the workforce planning process with the agency’s strategic plan, annual performance/business plan, and work activities required to carry out the goals and objectives of the strategic plan (long term) and performance plan (short term). Gone are the days where people simply worked to earn a living. On this platform, we write mostly about people analytics. The professional services and HR consulting firm, However, if organizations are able to look ahead and plan what roles, skills and people will be needed to meet their business goals now, and in the future, they are more likely to thrive. Workforce planning is the most strategic people management activity to take place within an organization. Do not include personally identifiable information (PII). This difference is not always easy to define – and may be more methodological than anything else. In this regard strategic workforce planning may place importance on succession planning as a measure to ensure the necessary skills and knowledge are always present in senior members of staff.

What will they get out of it?