Workforce Management Flashcards
6 Areas of Workforce Analysis
Strategic focus
Supply Analysis- current workforce
Demand Analysis- future workforce
Gap Analysis
Solution Analysis
Evaluating workforce planning impact- measurement/evaluation of our plan
Workforce Analysis Tools
Trend Analysis
Ratio Analysis
Turnover Analysis
Annualized Employee Turnover
Divides the total number of employees for the year by 12 months= avg monthly workforce
Divides the number of separations for the year by the average number of employees per month= Annual employee turnover %
2 Techniques used in Demand Analysis
Judgmental Forecast- apply expert judgment to information from the past and present to predict future conditions and staffing needs
Statistical Forecast:
Regression Analysis
Simple linear- is a projection of future demand based on a past relationship
between employment level and a single variable related to employment.
Multiple linear- operates the same as simple linear regression, except that
several variables are used to project future demand.
Simulation- are representations of real situations in abstract form; they are often referred to as “what if” scenarios.
Prioritizing Gaps
Permanence
Impact
Control
Evidence
Root Cause
Solution Analysis
Building
Buying
Borrowing
Bridging
Components of a Communication Pkan
Audience
Objectives
Required Information
Modes of Communication/Mediums
Resources
Timing
Responsibility and Accountability
Drivers of Restructuring
Technology (robotics/AI)
Redistribution of Decision-making Authority
M&A Divestiture
M&A Due DIlligence
Structural (organizational) issues
Technological considerations
Financial considerations
Legal issues
HR Due Diligence Topics
Management
Work Environment
Management Style
Community Labor Environment
Current HR function
Culture
Effect of Future Business Strategy
Hidden costs of acquisition
General employee information
Planning the M&A Process
- Designating integration leaders.
- Securing management support and resources.
- Developing integration and communication plans, setting measurable objectives for integration, and establishing a realistic time line.
Implementing the M&A Plan
- Communicating honestly and quickly, before incorrect rumors spread and take hold.
- Making required changes quickly—where this is possible. Part of the due diligence process is identifying restrictions on implementation, such as laws affecting acquired rights (existing obligations of merged or acquired entities), workforce terminations, and job reassignments.
- Supporting efforts to blend or revise work processes—perhaps by using cross-cultural task forces.
- Ensures that stakeholders (vendors, supply chain partners etc.) are included in planning & implementation
Effective Talent Management Strategy is shaped by organizations:
- Expectations regarding the differentiation of talent.
- Overall philosophy regarding integration versus local differentiation.
- View of the role that line leaders have in the development of people.
- Philosophy regarding the movement of people across borders, businesses, and
functions. - View of the role of diversity in staffing strategy.
- Beliefs about hiring for potential versus hiring for position.
Measuring Talent Management Effectiveness
- Evaluating the percentage of positions for which there are internal successors.
- Comparing the number of external hires to internal promotions.
- Evaluating the differentiation of pay between performance levels.
- Identifying high-potential employees and reviewing their corresponding retention
rates. - Tracking retention and turnover rates at all levels of the organization.
Components of successful Succession Plans
Visible support from senior leadership and all members of top management
Clearly defined leadership criteria
Defined plan to find, retain, and motivate future leaders and high-potential employees
Simple, easy-to-follow, measurable process
Use of succession planning to reinforce organizational culture
Process that focuses heavily but not exclusively on leadership development
Process that is a real organizational priority
