Whether you have a staff complement of ten or 10,000, you have a choice to:
Don't be found wanting. Make the smart choice and develop a workforce planning model.
But how do you go about workforce planning?
Where do you start?
Follow these six steps to develop a workforce planning model
Step #1: Have a demand analysis: The first step is to map out your strategic plans and determine where your company's going, says the Practical Guide to Human Resources Management.
The Guide adds 'once you know this, you'll be able to identify what particular skills you will need in your workforce to be able to action those plans.'
Step #2: Conduct a supply analysis: Analyse the strengths of your current workforce and supply factors within the labour market.
Essentially, this analysis will help you determine what skills are currently present in your company and what internal and external factors will affect the supply of human resources in the future.
Step #3: Do a gap analysis: This analysis will help determine the gaps to be addressed and where the skills' shortage is.
You'll compare the information from the supply and demand analysis to identify the differences between your current workforce and the workforce you need in future.
Step #4: Strategy formulation: This is where you'll develop an action plan with deadlines to address the differences in workforce requirements you identified in Step #3 (gap analysis). Include actions that are clear, concise and measurable, including achievable milestones agreed with the people involved.
Step #5: Implementation phase: Implement the plans to make the transition from the present workforce to future workforce requirements.
Step #6: Evaluation and review: Evaluate the success of the plans and the continuous adjustment of plans to adapt to changing circumstances. Remember to review plans regularly to ensure that they're up to date.
Well there you have it. Develop a workforce planning model or lose control of your workforce.