Do you have the right people with the right skills in the right places at the right time to achieve your goals? No, workforce planning?
Workforce planning as a strategic imperative will help your organization build a future in a dynamic way. It will have a long-term impact on the success of your organization if implemented correctly.
According to a recent survey by Deloitte, 75% of HR leaders say that workforce planning is a top priority for their organization.
In this guide, we’ll explore the significance of planning a workforce and how it can help your business thrive. Let’s dive in.
What is Workforce Planning?
It is the process of ensuring that your organization has the right people with the right skills in the right places at the right time. It is a critical function for any organization that wants to be successful in the long term.
Why is workforce planning important?
There are many benefits, including:
Improved employee engagement
Employees are more likely to be engaged when they feel like they are valued and that their skills are being used effectively. Workforce planning can help you ensure that you have the right people in the right roles, which can lead to improved employee engagement.
Increased productivity
When you have the right people with the right skills in the right places, you are better positioned to achieve your business goals. A workforce with proper planning can help you to identify and address any gaps in your workforce, which can lead to increased productivity.
Reduced costs
Workforce planning can help you to reduce costs by ensuring that you are not overstaffed or understaffed. It can also help you to identify and avoid costly hiring mistakes.
Enhanced agility
Workforce planning can help you to be more agile in the face of change. By understanding your future workforce needs, you can be better prepared to respond to changes in the market or your business environment.
How to create workforce planning?
To create a workforce plan, you should follow these steps:
Assess your current workforce
This includes identifying the skills, experience, and demographics of your current employees. You should also identify any gaps in your workforce.
Identify your future needs
This includes considering your business goals, the market landscape, and any technological changes that may impact your workforce needs.
Develop a plan to bridge the gap
Once you have identified your future needs, you can develop a plan to bridge the gap between your current workforce and your future needs. This may involve hiring new employees, training current employees, or outsourcing certain tasks.
Implement and monitor your plan
Once you have developed a workforce plan, you need to implement it and monitor its progress. You may need to make adjustments to your plan as needed.
Best practices for workforce planning
Here are some best practices:
Use data to inform your decisions
When making workforce planning decisions, it is important to use data to inform your decisions. This data can come from a variety of sources, such as employee surveys, performance reviews, and market research.
Align your workforce plan
Your workforce plan should be aligned with your overall business goals. This will help you to ensure that you are investing in the right people and skills.
Be flexible and adaptable
The business world is constantly changing, so it is important to be flexible and adaptable with your workforce plan. Be prepared to make adjustments to your plan as needed.
Communicate with your employees
It is important to communicate with your employees about your workforce plan. This will help them to understand the plan and how it will impact them.
Common Mistakes to Avoid
To achieve success in workforce planning, avoid these common pitfalls:
Neglecting Data-Driven Decisions
Relying on instinct rather than data when making workforce planning decisions can lead to costly mistakes. Data can provide you with valuable insights into your workforce, such as skills gaps, turnover rates, and future needs. By using data to inform your workforce planning decisions, you can be more confident that you are making the best decisions for your organization.
Here are some specific examples of how you can use data to improve your workforce planning:
- Use workforce analytics software to identify trends and patterns in your workforce data. This information can help you to predict future needs and make informed decisions about hiring, training, and development.
- Conduct employee surveys to gather feedback on employee satisfaction, engagement, and career goals. This information can help you to identify areas where improvement is needed and develop workforce planning strategies that address these needs.
- Benchmark your workforce data against industry standards to identify areas where you may be falling behind. This information can help you to develop workforce planning strategies that will help you to improve your competitiveness.
By using data to inform your workforce planning decisions, you can avoid costly mistakes and make better decisions for your organization.
Focusing Solely on Short-Term Goals
When it comes to workforce planning, it is important to look beyond the immediate future and focus on your long-term goals. By taking a long-term view, you can develop workforce planning strategies that will help you achieve your overall business goals.
Here are some specific tips for focusing on long-term goals when workforce planning:
- Consider your organization’s strategic goals and objectives when developing your workforce plan. What skills and competencies will you need to achieve your goals in the next 3-5 years?
- Develop a succession plan for key positions. This will help to ensure that you have qualified candidates to fill these positions when they become vacant.
- Invest in training and development programs to help your employees develop the skills and knowledge they need to be successful in the future.
- Create a culture of continuous learning and development. This will help to ensure that your workforce is always up-to-date on the latest skills and knowledge.
By focusing on long-term goals when workforce planning, you can ensure that your organization has the right people with the right skills in the right places at the right time to achieve its goals.
Not Involving Key Stakeholders
Workforce planning is not a one-person job. It is important to involve key stakeholders, such as HR, management, and employees, in the process. This will help to ensure that everyone is aligned on the organization’s goals and that the workforce plan is realistic and achievable.
Here are some specific tips for involving key stakeholders in workforce planning:
- Create a workforce planning committee that includes representatives from different departments and levels of the organization.
- Hold regular meetings with the workforce planning committee to discuss the organization’s goals and develop strategies to achieve them.
- Share the workforce plan with employees and get their feedback. This will help to ensure that the plan is supported by the workforce and that everyone understands their role in achieving the organization’s goals.
By involving key stakeholders in workforce planning, you can develop a plan that is more likely to be successful.
By avoiding these common mistakes, you can achieve success in workforce planning and build a workforce that is equipped to help your organization achieve its goals.
Tools and Technologies
Harness the power of technology with:
HR Software Solutions
HR software solutions can help you to streamline your HR processes and access data quickly. This can free up your time to focus on more strategic workforce planning activities.
Some of the key benefits of using HR software solutions for workforce planning include:
Improved data accuracy
HR software solutions can help you to ensure that your workforce data is accurate and up-to-date. This is essential for making informed workforce planning decisions.
Increased efficiency
HR software can automate many of the time-consuming tasks associated with workforce planning, such as employee scheduling and reporting. This can free up your time to focus on more strategic tasks.
Enhanced visibility
HR software can provide you with visibility into your workforce data, such as employee skills, experience, and performance. This can help you to identify gaps in your workforce and make informed workforce planning decisions.
Some popular HR software solutions that can be used for workforce planning include:
- Workday
- SAP SuccessFactors
- Oracle HCM Cloud
- ADP Workforce Now
- Ceridian Dayforce
Data Analytics Platforms
Data analytics platforms can help you to gain insights from your workforce data. This information can be used to make informed workforce planning decisions. Some of the key benefits of using data analytics platforms for workforce planning include:
Identify trends
Data analytics platforms can help you to identify trends in your workforce data, such as turnover rates and skills gaps. This information can be used to make informed workforce planning decisions.
Predict future needs
You can use data analytics platforms to predict your future workforce needs based on historical data and market trends. You can then use this information to develop a workforce plan that meets your future needs.
Measure the impact of workforce changes
Data analytics platforms can help you measure the impact of workforce changes, such as a new hiring program or a training program. This information can be used to improve your workforce planning efforts over time.
Some popular data analytics platforms that can be used for workforce planning include:
- Tableau
- Power BI
- Qlik Sense
- SAS
- IBM SPSS
Workforce Management Systems
Workforce management systems (WFM) can help you to effectively schedule and manage your employees. This can help you to ensure that you have the right people in the right place at the right time. Some of the key benefits of using WFM for workforce planning include:
Improved scheduling
WFM can help you to create and manage employee schedules based on your business needs. You can ensure that you are always adequately staffed with this help.
Increased productivity
WFM can help you to increase productivity by reducing employee downtime and improving task allocation.
Reduced costs
WFM can help you to reduce costs by avoiding overstaffing and understaffing.
Some popular WFM systems used for workforce planning include:
- Kronos Workforce Central
- UKG Workforce Dimensions
- Infor Workforce Management
- Verint Workforce Engagement
- Calabrio ONE
By harnessing the power of technology, you can streamline HR processes, gain insights from workforce data, and effectively schedule and manage your employees. This can help you to make informed workforce planning decisions and achieve your business goals.
Conclusion
Workforce planning is an essential function for any organization that wants to be successful in the long term. By following the tips in this guide, you can create and implement a workforce plan that will help you achieve your business goals.
If you need help with workforce planning, contact us today.
