Research Perspective

To keep reading or download the pdf

Fill out the Form

 

Read Time:

8 min.

 

Font Size:

 

Font Weight:

A New Era of Workforce Planning:

Seizing Opportunities to Align Strategy and Operations

Workforce Planning Is Imperative

People are the most valuable asset of every organization. To maximize their value, though, management must think carefully about how to use them. Workforce planning helps organizations address every aspect related to employees, from overall head count to individual hiring, compensation and job satisfaction. It helps management in Human Resources and the lines of business to forecast their needs and align them to the organization’s strategy and goals.

It also helps to manage financial resources. For every person who comes on board, the organization incurs both direct and indirect costs. Workforce planning processes and software enable planners to model and analyze these costs to understand the present and future financial impacts of each hire and of hiring strategies.

Historically, larger organizations have assessed their current workforce and future human capital needs only once a year or even less often. Smaller organizations tend to be even less plan-oriented. But in today’s competitive talent markets, organiza-tions must move beyond occasional or episodic workforce planning. New workforce dynamics require them to plan more frequently and on an ongoing basis to support a complex of financial and operational needs. And a continual, forward-looking com-parison of the organization’s workforce needs to the labor market can identify gaps and pinpoint recruiting needs and prospects.

 

 
 

Fill out the form to continue reading