Why You Need Workforce Planning?


Oil and gas companies are delaying major exploration and production projects at a time of record prices because of a dearth of scientists and engineers. Aerospace companies are unable to meet ramped-up delivery schedules. Rail and transport companies are searching in vain for the next generation of engineers, drivers and maintenance workers. And power companies face five- to 10-year skill development cycles for some critical jobs.

What’s more, the very uncertainty and volatility characterizing today’s business environment make the need for rigorous, numbers-driven workforce planning even more urgent. Therefore, strategic workforce planning is more, not less, critical than it has ever been.
Workforce planning is a systematic, fully integrated organizational process that involves proactively planning ahead to avoid talent surpluses or shortages. It is based on the premise that a company can be staffed more efficiently if it forecasts its talent needs as well as the actual supply of talent that is or will be available.
If a company is more efficient, it can avoid the need for layoffs or panic hiring. By planning ahead, HR can provide managers with the right number of people, with the right skills, in the right place, and at the right time. Workforce planning might be more accurately called talent planning because it integrates the forecasting elements of each of the HR functions that relate to talent--recruiting, retention, redeployment, and leadership and employee development.


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