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.