Lesson Talent Planning Flashcards
Integrative leadership 4
Corporate leadership -> strategic planning
- environmental scanning
-long range planning
Hr leadership -> op. Planning
-forecasting
-mid range planning
Talent planning-> HR planning
-projected staffing requirements
-short range planning
Talent acquisition -> talent mapping
-talent sourcing
-op. Planning
HR Planning
-Align staffing and business goals and objectives
-inventory staffing profiles
-Identify staffing gaps
-develop talent plan
- measure and evaluate progress
Forecasting
Predict future resources needed to satisfy the strategic plan and helped to identify which jobs to be filled, which types of skills employees need, potential staffing challenges
Type types of forecast
Short term forecasting and long-term forecasting
Short term forecasting
Short term forecasting typically predicts employment demands for one to two years the responsibility.
These are the two approaches top down leadership determine the allocation based either on the budget distribution or allocation of employees. The bottom approach managers are in control. The budget their needs are based on the projected business activity workload analysis. This is another type of short term forecasting identifies both the number of employees and the kind of employees required to achieve organizational goals
Workload analysis calculation
Determines the number of resources to satisfy the workload, must be rounded to the nearest whole number, actual headcount numbers may be different if employees work fractional time.
Full-time equivalent people require required equals total functional workload / workload handled by one person
Long-term forecasting
2 to 10 years
1.unit demand this is an extension of short term, forecasting method and required managers to be knowledgeable about their business units, future performance, and how many people will be needed year by year to a cheap business objective each manager’s information it’s aggregated to form an overall forecast by the business
2. Trends projections. This is based on the statistical relationship between a factor related to employment and the level of employment for example
3. Pro ballistic models. This method uses probabilities of the future events to estimate future employment levels via computer simulation. It models the business environment to describe how it might look in the future, depending on alternative decisions and economic conditions the simulation can show the effects of each decision on HR as well as our business outcomes, including prices, sales and profits.
4. Mark off analysis this is a simple form of probabilistic podcast, showing how the movement of employees among the different child classifications can be forecasted based upon past movement the mark of analysis can be used to forecast movement of employees from one job category to another as well as movement that might occur among salary, classes, grade levels, organizational unit or different locations.
Staffing analysis
Calculating the staffing need is part of the human resource planning to analyze, identify staffing, gaps and surpluses the key elements and questions to be answered for the processes are
1.demand analysis. Where do we want to be and what do we need
2. supply analysis? Where are we now? What do we have then the
3.gap analysis? What are the KSA‘s? That currently exist? What are the KSA‘s that are needed in the future and a
4. solution analysis what can we afford and how will we get what we need
Demand analysis
Demand forecasting helps to determine the future staffing requirements and should be addressed with caution to avoid unnecessary surpluses or gaps both quantitative and qualitative techniques work well for forecasting of staffing demand and consider these factors when people are impacted
- Externally, it examines labor, market analysis, community attitudes, and demographic trends
- internally it addresses the organizational and
workforce impact to see the right skills are available.
Supply analyiss
Play analysis involves understanding the current workforce, and how it is projected to change overtime due to attrition and other trends it attempts to provide an adequate supply of qualified individuals necessary for the businesses, financial success, looking at the factors, which includes
1. External the pestel skin can be effective here as well as as a competitive analysis
2. Organizational Looking at structural financial and strategic object
3. And workforce looking at separations and leaves.
Internal supply forecasting
Colonel supply forecasting, which shows how the movement of employees can be used for projections the formula at the bottom takes into account the current staffing level plus the annual inflows minus the projected annual outflows
Gap analysis
A gap analysis compares to studies from the supply and demand forecast identify the staffing, differences and competencies need for the future. It helps to explore the opportunities to address, organizational design challenges, internal development, and mobility strategies and external recruiting strategies.
Talent pool
Talent pool refers the conceptual place or database of top job resources they’re made up of candidates that applied for jobs those sourced referrals and those interested in joining the talent pool. They’re available to satisfy immediate to long-term needs. In addition pools can be shared across organizations.
Recruiting sources
The sources for recruiting can be put into two categories,
1. internal recruiting finding individuals from inside the business or their referrals and
2. external recruiting finding resources from outside the business
Internal recruiting sources
promotions.
Transfers
Employee referrals
Former employees
External recruiting sources
Advertisement
Job fairs
Phased retirement
This includes a broad range of employment options that allows an employee who is approaching retirement age to continue working with a reduce workload and eventually transition from full-time work to full-time retirement
Retiree annuitants
This is a former participant in a public retirement system, who is hired by the same employer or by different employer that maintains positions under the same retirement system there are defined by the IRS as individuals who are entitled to be drawn benefit from the retirement program while earning compensation from employers for continuing employment, whether or not they continue to pay into the retirement program it may be more cost-effective in the short run to bring back a retired worker to fill in temporarily that you hire another type of temporary worker
Contingent workers
contractual obligations for ongoing work with the same employer they make work for multiple employers in a variety of work arrangements, which include independent or temporary contractors freelancers are consultant or other outsource or non-permanent workers who are high on a per contract basis they can work on site or remotely
Working in gig economy percentages
55% side hustle for extra money, 48% entrepreneurship, 48% necessity, balancing career and family, 22% source of income skills, employability, 19% filler between jobs
Internal restructures
- realignments
- site reductions
Realignment
It’s a process of changing the way or how a business operate. It can be as small as rearranging a few positions and responsibilities or as major as repositioning a large division with different leadership.
Reengineering
Realigning the operation in a way that adds values to customers it may eliminate jobs in some areas and add jobs in other areas. 21st-century engineering may also include a heavy dose of automation.
Restruction
This reduced cost production by looking at individual units to reduce or eliminate redundancy or bureaucratic processes. It can reassign employees to new jobs or reduce the workforce.
Site reductions
Outsourcing - relocating business from one country to another including employees
Workforce reduction- used to lower expenses for short term improvements in net profits in order to meet previously stated earnings targets for stock market analysts
Types of business restructuring
Expansions
-mergers. Acquisitions, joint ventures
Contractions
- divestitures, equity carve outs
Expansion restructuring
Mergers and acquisitions this includes the purchase of companies instead of building them internally. This result in reduce labor as economies of scales allows for jobs to be combined or eliminated.
WorkForce expansion this is time to business takes on a huge influx of employees resulting from the restructure increase of the workforce to accomplish business objectives. There’s a good period of integration to simulate the new workforce.
Contraction restructuring
Divestitures selling part of a business to focus on strategic areas the options are to eliminate jobs or to transfer employees to the new operating unit
Outsourcing transfer solutions to be serviced by a provider. The provider may be acquire the employees. The employees would then be terminated from the business and hired by the outsources
Transition techniques
Secure a leadership support to buy and
build a change agent network let by example
act like you care.
Organizational change, action plans
No change action plans shown here drives a holistic change management approach towards focusing on the five key dimensions the three pillars, people processing technology, and the two horizontal integrators across the bottom, our change and communication which continuously interacts with the pillars understanding the impact in each of these areas and preparing a plan of action to address them can make a significant impact on the reception of the change program and how it is sustained
Will develop a workforce integration project
Well, then conduct an HR due diligence
Will compare the benefits from both organizations
Will compare both organizations compensation structure
Then we’ll drop down to the second row and we’ll move from right to left
Develop a compensation and benefit strategies that will be beneficial to both of the integrated workforces
Will determine what the leadership assignments will be
Then we will eliminate any duplicate function
Prepare employee communications
The last row and moving to the right
Personnel data for both workforces into one singular system
And then develop a retention strategy for those who remain in the organization
Unit demand
Unit demand forecasting involves each unit manager, providing input on their business units performance and future staffing needs. This is then aggregated to build a overall forecast.
Which two elements are examined as part of the external category of supply analysis
Political and legal
Which task would fall under the organizational supply analysis category
Budgets
Which two tasks fall under the talent planning process
Flexible, staffing, and forecasting
Plan elements
1. people
2. Process
3. Change
- Roles and responsibilities and training
- Readiness and impact
- Business unit processes and key performance indexes
