Workforce Planning Flashcards
Workforce planning
Activities needed to ensure that workforce size and competencies meet current and future organizational and individual needs.
current state of the workforce is defined, gaps in size and competency are identified, and steps required to prepare for future needs are developed.
Alignment of human capital with business direction
Workforce analysis
4 key areas
gathers data about the current workforce and forecasts future workforce needs. This information is analyzed to provide the data to support the organization’s staffing strategy.
GOAL: create a staffing plan that will be in alignment with the organization’s strategic plan and support the future needs of the organization
Supply
Demand
Gap
Solution
Supply analysis
Account for movement into and inside the organization (new hires, promotions, and internal transfers) and out of the organization (resignations, retirements, involuntary terminations, and discharges)
Starting w/ line managers - have them identify how many hours of each type of skilled work are needed to meet current needs; consider areas of waste
Use trend analysis and ratio analysis to try to make forecasts more accurate
Turnover rate
Projecting turnover
Turnover analysis: number of separations per year/month divided by the average monthly workforce
Projections: Examining previous turnover rates and adjusting them to reflect knowledge of changing conditions such as pay rates and the economy.
Analyzing trends in turnover rates for particular geographic locations or occupational categories.
Flow analysis
Determine when employees are going to flow in/out/across an organization
Flow analysis can be accomplished in three ways, one of which is to estimate the movement based on historical data, looking at flows in, up, down, across, and out of the organization.
analyze career development plans, obtain estimates of movement, project future movement
Demand analysis
considers the model organization of the future and its human capital needs.
Once the supply model is developed, data can be compared to the demand analysis projections to identify gaps, such as headcount gaps or skills gaps.
Judgmental forecasts
Looking at past and present to predict future needs, understand opportunities and threats that can affect the staffing plan..
Based on variety of estimates.
Success of this method is entirely dependent upon the quality of information provided to managers
Statistical forecasts:
Types of Regression analysis
Regression analysis can be simple or multiple:
Simple linear regression: based on past relationship between employment level and a single variable related to employment.
Multiple linear: based on more than 1 variable to project future demand.
Statistical forecasts:
Simulation
Often referred to as “what if” scenarios.
They provide organizations with the opportunity to speculate as to what would happen if certain courses of action are pursued. For example, an organization might consider the ramifications of changing a compensation system or doing business online.
Gap analysis
Compares supply analysis and demand analysis to identify the differences in staffing levels and competencies needed for the future.
establishes the goals and objectives for the staffing plan, may identify deficiencies or surpluses in staffing needs
Tactical objectives
Focus on closing high-priority gaps in the near term (as opposed to the long-term HR strategic objectives).
Specify in concrete and measurable terms: gaps to focus on, extent to which gaps will close, timeframe, groups involved, special considerations
Solution analysis
Examination of how the organization can get what it needs to meet the tactical objectives within budget constraints
Build/Buy/Borrow
During solution analysis phase -
organization decides whether to “build,” “buy,” or “borrow” the talent needed to attain the staffing levels and competencies required to meet the tactical objectives:
“Building” : Redeploy, train, develop. Using current workforce to meet the future needs of the organization. Will involve training/dev.
“Buying” the talent refers to recruiting and hiring employees.
“Borrowing” the talent refers to outsourcing, leasing, and contracting with others to get the work done.
Staffing plan
describes—in some detail—how the tactical objectives are going to be achieved through the delegation of tasks and the application of resources.
Workforce management
KSAOs: knowledge, skills, abilities, other characteristics
All activities needed to ensure that workforce size and competencies meet the organization’s strategic needs.
