There are several opinions about the best methods for hiring the best employees. However, one important step you might want to make before you rush off and start looking for your next great new hire is workforce planning. Workforce planning plays an important role in getting the right people into the right jobs.
Overview of Strategic Workforce Planning
The process itself, according to the experts at Profiles International, involves:
- Establishing your strategic direction
- Understanding the labor market
- Knowing your future talent needs
- Assessing your current level of talent
- Identifying the gaps in talent and how to correct it
- Implementing your strategies
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Knowing what to do and doing it correctly takes time, effort, and a little analytical savvy.
Establish Your Strategic Direction
A well-defined strategic plan includes your company?s mission, vision, goals, and objectives. Additionally, it outlines what strategies you will follow to achieve positive results. Be sure to link financial and human resources to your strategic plan.
Understand the Labor Market?
To understand the labor market, review current demographic, social, political, economic, and technological trends. How will they affect your organization, your customers, and your employees?
Know Your Future Talent Needs?
Focus on factors such as workforce trends, organization structure and culture, employee morale, and performance. Consider elements such as:
- Age of employee population (retirement planning)
- Succession planning
- Recruitment statistics
- Retention statistics
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Assess Your Current Level of Talent??
Develop a strong understanding of your current workforce, including demographics, capabilities, and distribution. This includes regular, temporary, and contract workers.
Identify Gaps in Talent and How to Correct It
Once you have looked at current capabilities, determine where there are gaps in talent by conducting a gap analysis. A gap analysis determines where there is a deficit or surplus of workers based on current supply and projected demand. Reducing the surplus and overcoming the deficiencies is the basis for your workforce plan. This may be as easy as assessing how many new technical positions will open in the next three years.
To close these gaps, determine how to:
- Retain skilled employees
- Recruit skilled employees
- Develop less skilled employees
- Build all employees? skills
- Reduce overstaffing
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Implement Your Strategies
Once you have identified your strategies, define a plan for how you can use leadership, communication, and available resources (financial and human) to implement them.
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