Dear Stumped:
Before we get to the specific questions, let’s identify what a workforce plan actually does to ensure your organization has the right workers with the right skills at the right time.
A thorough workforce plan:
• Translates organization strategy into human capital needs.
• Analyzes demographics, current and projected staffing levels, current and projected skill mix, turnover trends, retirement risk and assumed growth.
• Assesses available workforce supply and demand in the markets where the organization needs talent.
• Identifies short- and long-term risks in attracting and retaining critical talent.
• Recommends recruiting and retention programs to close the risk gap and protect intellectual capital.
• Prioritizes programs/solutions by their return on investment.
Each of these discrete action elements also can be thought of as a different phase of a workforce plan. Each phase answers a unique set of questions or issues.
Phase I: Translate organization strategy into human capital needs
Key questions include:
1. What is your organization’s vision, its mission and its short- and long-term strategy?
2. What does this strategy tell you about what the organization needs from its current and future workforce?
3. What competencies will be most critical in the future for your growth? For servicing your customers? For continuing to innovate?
Phase II: Analyze demographics and trends
Key questions include:
1. What are your current and projected staffing trends (especially in key positions and roles)?
2. What are the projected turnover and retirement trends?
3. What gaps do you see as a result of this analysis?
Phase III: Assess available workforce supply and demand in the markets where you need talent
Key questions include:
1. On the supply side, how would you describe the labor pool, lifestyle shifts and the economic and regulatory environment?
2. On the demand side, what are the organization’s requirements, internal demographics and the “employment deal” being offered?
3. What does the optimal workforce model look like?
Phase IV: Identify short- and long-term risks in attracting and retaining critical talent
Key questions include:
1. What are the short- and long-term costs and benefits of attracting the talent required?
2. What are the short- and long-term costs and benefits of retaining the talent required?
3. What risks are posed by attracting or not attracting the talent needed?
4. What risks are posed by retaining or not retaining the talent needed?
Phase V: Recommend recruiting and retention programs to close the risk gap and protect intellectual capital
Key questions include:
1. What elements from “best practice” recruiting and retention programs can you apply?
2. What programs will give you the best return for the cost?
3. What will close the gaps in the least amount of time?
Phase VI: Prioritize programs/solutions by ROI
Key questions include:
1. What are the total costs and investment return for each option identified?
2. What change management issues are associated with each solution?
SOURCE: Richard Greenberg, president, The BreakThru Alliance, Marina del Rey, California, December 16, 2009
LEARN MORE: Workforce planning helps your organization ensure that its talent is equipped to drive performance. It is an issue that assumes greater importance in an uncertain world.
The information contained in this article is intended to provide useful information on the topic covered, but should not be construed as legal advice or a legal opinion. Also remember that state laws may differ from the federal law.
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