The Workforce Planning Process

In today’s talent-based economy, the key element that keeps successful companies running is people. But despite its importance, this asset is often not carefully planned, measured, or optimized. 

This means that many organizations are not sufficiently aware of the current or future workforce gaps that will limit the execution of organization strategy. Not having the right talent in place can cause enormous strain. 

As such, if organizations are able to look ahead and plan what roles, skills, and people will be needed to meet their goals now, and in the future, they are more likely to thrive.

This involves a systematic, rigorous, and disciplined process. Here are the six questions you need to ask in order to implement an effective workforce plan –

1. Where are We Headed?

Where is your business going? Where do you want it to go? What are the current goals of top-level management? Workforce planning needs to start from the top down, and it needs to be set out by some kind of vision or overall goal to work toward. Whether that is doubling headcount or increasing the amount of leaders.

2. Who Do We Have Now?

The next step is to analyze the talent you have on hand. Who do you currently have working for you? What skills or training do they have? What seniority levels do you have a lot of? Take into account everything you currently have, ideally in the form of data and over a period of time to see how you’ve grown to this point.

3. What Do We Do Next?

Think about the space in between your current inventory of talent and your ultimate goal. So, what do you need next? Do you need more people? Different kinds of skills? More leaders? This will begin to inform you in terms of what you should do and what concrete measures you may need to implement.

4. Talent Gaps

This is about looking at what’s inside the organization as well. What are the most pressing talent gaps in your organization? Which ones would help you reach your goal sooner? For instance, would hiring the perfect high-level executive help to recruit even more mid-level talent?

5. Fixes and Initiatives

To address those gaps, what will you do? Will you focus on recruiting, formulating a more compelling remuneration package or rewards for top talent? What kind of fixes will help address those gaps, help you take the next in your workforce plan, ultimately to achieve your goal.

6. Measure Results

Did your fixes work? How much closer are you to your goal? Here, analytics and reporting are absolutely essential, as they can track your progress over time against your goal. And, in a click or two, you should be able to have a report that you can use and bring to executive management.