Optimize workforce productivity and prepare for future hiring needs with Bob’s Workforce Planning

Bob

Companies are living and breathing entities with constantly evolving workforces and continuously changing needs. A strategic workforce planning framework will help you get the most out of your current workforce while preparing for the changes to come.

Managing Costs through Workforce Planning

hrQ

With the evolution of workforce planning, this is both unnecessary and unwise. Workforce planning provides a platform by which cost-cutting can be a quantitative precision exercise where outcomes are more certain and the ability of the organization to remain effective can be preserved.

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5 workforce planning tools and how to use them

Business Management Daily

has come to the realization that strategic workforce planning is a necessity for the organization. Baby Boomers make up a significant portion of the company’s current workforce, and their retirement over the next few years could cause serious staffing shortages in key positions.

Driving Innovative Business Models through Workforce Planning

hrQ

Workforce planning is one of the most critical competencies for an HR organization. Workforce planning can help a business answer questions ranging from how many people it needs, where they should be located, what jobs they should do, how much they should be paid, and even whether they should be working for your company. It can help determine the right investments in recruiting, compensation, training, and a host of other things.

Applied AI in Talent

AI is both disrupting and transforming everything about workforce management. For HR leaders, that means changing the types of skills and competencies companies need, changing the way existing employees do their jobs, and altering the recruiting landscape. This handbook looks at how AI is shaping the way we think about workforce planning and development at the highest levels.

Case Study: Strategic Workforce Planning for Rail Infrastructure Managers

Analytics in HR

This requires tremendous changes in the current workforce. In this case study, strategic workforce planning is applied to solve this national problem, impacting millions of commuters. Planning for the future.

3 Real-Life Lessons About Workforce Planning

Pingboard

Today’s employees, especially millennials, are willing to change jobs in favor of new ones that meet their career-development, compensation, and other aspirations. For any organization, thoughtful workforce planning can hold the keys to retaining talent, meeting employee expectations, and reaching important strategic goals. One of the common pitfalls of workforce planning efforts can lie in failing to consider that the supply of talent may not meet company demand.

The 5 Steps of Analytics-Driven Workforce Planning

Analytics in HR

To determine how to align and sustain these three objectives, HR uses some form of workforce planning. Unfortunately, many companies still base their talent plans on unreliable sources and methods such as using country retirement age instead of actual retirement age data, outdated benchmarks, and financial headcount budgets with no historical trends or link to business strategy, and sadly, gut feel. Here are five key steps to use analytics to inform your workforce plans: 1.

Why Agile Workforce Planning is Key for Organizational Success

Visier - Talent Acquisition

This is supported by a critical element that is often overlooked: agile workforce planning. In short, to have a responsive workforce, the process that supports this (workforce planning) needs to be adaptable itself. Typically, workforce plans are executed on an annual basis, with budgets firmly set for the year. The 4 Critical Elements of Agile Workforce Planning. What are the main elements of agile workforce planning?

4 Reasons Why Your Business Should Focus on Workforce Planning

Pingboard

According to research conducted by Accenture , 61 percent of executives say they are not well prepared to change their workforce skill and job mix to transition into a digital business. Without careful workforce planning, it’s almost a given that the goal of becoming digitally competitive will remain unachieved—a fate that could mean disaster for just about any business. One of the key components of workplace planning is recruitment.

5 Strategic Workforce Planning Tips

TalenX

Strategic workforce planning has become the latest buzzword in HR circles, with more companies adopting a strategic view of workforce planning and recruitment. However, very few companies truly know what it means to be “strategic” in their workforce planning activities.

Top 5 Workforce Planning Tools

TalenX

When it comes to delivering real business insights, providing a holistic view of the workforce, increasing productivity, efficiency, and effectiveness, and aligning talent and business strategies, nothing does it better than workforce planning. What is a workforce planning tool?

Prepare for Nurse Retirements and Shortage with Intelligent Workforce Planning

Visier

According to a survey by the National Council of State Board of Nursing and the Forum of State Nursing Workforce Centers, 55% of registered nurses (RN) are age 50 or older. Healthcare providers have a unique driver to connect their workforce decisions to business outcomes: cost of healthcare delivery, and patient outcomes and satisfaction. This is good news for the HR department, since analytics will enable them to take data about their workforce and turn it into actionable insight.

Workforce Planning Collaboration: The Talent Acquisition and HR Partnership

Visier

Whether an HR team is working on compensation and benefits, career development, or performance management, it needs to take into account input from all stakeholders involved, including employees, their managers, and Finance, among others. But there’s a case to be made that workforce planning is the one process that creates the highest level of risk for the organization if stakeholders don’t work together adequately. In terms of executing the plan, the game has only begun.

The Future of Workforce Planning

HR Daily Advisor

One of the best investments organizations can make toward the satisfaction of their employees is in workforce planning technology and process improvements. Workforce planning examines the entire employee lifecycle and determines how to best recruit, grow, deploy, optimize, and retain employees. When an employee is not the right fit for a job, sees no opportunities for advancement, or feels they are not being fairly compensated, they are far more likely to leave.

From Workforce Management to Optimization: The Evolving Roles of HR and Operations

Workday

On top of losing jobs, the pandemic forced many workers to leave the workforce. Among the most successful are those that have embraced workforce optimization. How does that differ from workforce management? That’s where workforce optimization enters the picture.

5 Essential Workforce Planning Tools for any HR professional

Analytics in HR

Workforce planning tools are an essential part of the HR professional’s toolkit. In this article we’ll go over 5 strategic workforce planning tools, explain their use and give examples and excel templates on how to use them. What are workforce planning tools? Workforce planning tools are instruments that help analyze current capabilities and future needs for the employee population. Strategic workforce planning map.

How Healthcare Employers Can Invest in Strategic Workforce Planning

Precheck

How Healthcare Employers Can Invest in Strategic Workforce Planning Apr. Healthcare organizations are facing a workforce crunch. So what should healthcare organizations include in their strategic workforce planning initiatives? How can they overcome these workforce challenges? Here’s how you can strategically build a healthcare workforce of the future. Identify Leaky Pipelines in Your Workforce.

Attract and retain talent with Bob’s Compensation Benchmarking powered by Mercer

Bob

Prospective employees demand higher salaries, better perks, and more flexibility, and many companies are adjusting their compensation packages to attract the best talent. Getting started with Bob’s Compensation Benchmarking powered by Mercer.

Compensation Singularities

Compensation Cafe

Have you heard of the Compensation Singularity Rule? It turns out the client had applied the Compensation Singularity Rule. The Compensation Singularity Rule (CSR) states, in part: A singular compensation data point is vastly more reliable and is far more effective for determining true market rates than hundreds of thousands of compensation survey data points, provided that the singular data point is sufficiently large compared to the median survey rate.

How To Plan for Compensating Tomorrow’s Workforce

TLNT: The Business of HR

Compensation & Benefits HR Trends Incentives Talent Management Workforce Planning FeaturedThe Terminator had a big impact on my understanding of the future. In the Terminator franchise , machines become so artificially intelligent that Skynet ultimately takes over and attacks humans in a judgment day. While judgment day has been pushed out further during the course of the series, the sense is that it still looms just over the horizon.

8 Benefits of Using People Analytics

Visier - Talent Acquisition

But instead of analytics, many organizations rely on the kind of one-dimensional workforce metrics that do very little to deliver true insight into the root causes of problems. Optimize workforce planning. Optimize workforce planning.

HR Moments Matter: 3 Compensation Challenges Solved With People Analytics

Visier

In this post, Allison talks about Compensation. Compensation is one of the key culture-definers for organizations. In Aligning Compensation Systems With Organization Culture , the authors state: “Depending on how [compensation is] designed, communicated, and managed, it can positively or negatively influence an organization’s culture and impact an organization’s optimal performance.”. Look for insights that reveal how fair your compensation practices are.

#ECTalent: Future Proofing the Business (Strategic Workforce Planning)

Strategic HCM

Rafael Ramirez from Oxford’s Said Business School talked about some of the scenario planning he had been involved with at Shell and since. There’s also a fair amount of short-term planning, but there’s a gap in the middle – at least in HR (more so than in Strategy, technology, Risk Management etc). Linda Seber, HRD EMEA at Boeing talked about their small Strategic Workforce Planning team within HR but working with the business.

Life Cycles and Compensation

Compensation Cafe

Compensation programs need to adapt to these different stages as companies grow and evolve. For example, compensation plans needed for start-ups are very different compared to those needed for mature companies. Let’s see how the various stages impact compensation. . Compensation : Salaries are limited as companies are not flush with cash. There is no formal compensation program. Compensation : There a rapid growth in the number of employees.

Human Performance Deserves More Than a Review

The Aristocracy of HR

I will or have received compensation for this post. Featured HR Innovation HR Technology HR Technology Trends and Tips Performance Management CHRO HRIS Human Performance Deserves More Than a Review Human Resources Janine Nicole Truitt Succession Planning Talent Think Innovations LLC Technology The Aristocracy of HR Trakstar Workforce Workforce Planning000000000000Campaign/FTC disclosure: This is a sponsored blog post.

Compensation’s Role In Acquisitions

Compensation Cafe

Much has been written about acquisitions and Compensation’s involvement in them. Regardless of whether the target company will be an autonomous operation or fully integrated into the parent company, Compensation in the acquiring company has work to do. Types of Acquisitions: Full integration : There is hardly an acquisition where both companies have the same overall compensation system. Compensation needs to work closely with top management on this.

Think You Know Your Total Cost of Workforce? Think Again.

Visier

Do you have a detailed and accurate understanding of your total cost of workforce (TCOW)? In order to gain a true TCOW, you need HR data, such as headcount, salary and benefits, as well as finance data on workforce overheads, and external market information, such as unemployment data and local market salary data. TCOW is essential to building an efficient workforce plan and staying competitive. This will impact your TCOW and therefore, your workforce plans.

Visier 233

Innovative HR and Why Technology Innovators Can’t Survive Without It

Visier

Indeed, investing resources into a top-notch HR analytics function–one with the right mix of people, processes, and technology–is key to successful workforce management in 2018 and beyond, no matter what industry you’re in. There are a few areas where technology companies commonly struggle to improve when it comes to their people: Recruitment, Workforce Diversity, Retention, and Strategic Workforce Planning. Develop The Right Mix of Workforce Diversity.

Visier 237

The Immutable Laws of Compensation (Part 2)

Compensation Cafe

The Third Immutable Law of Compensation: Compensation is always done for, and by, people. Second Corollary: Compensation strategies, decisions, and execution will always contain errors or assumptions that cause them to go awry. (See See Dan’s Third Law of Compensation Motion.). Fourth Corollary: Compensation strategies, decisions, and execution will always appear “unfair” to large elements of those to whom they apply, though often for completely different reasons.

Are you pushing the limits on your labor?

The Aristocracy of HR

Each of these components serves a different and essential purpose to your workforce planning. Compliance Featured Human Resources Talent Management Worker Classification Workforce Planning #TAOHR Are you pushing the limits on your labor? Ask Czarina benefits Business Compensation Department of Labor Fee-For-Service Nursing Healthcare Healthcare HR Healthcare Practitioners HR101 Industrial Psychology Janine N.

How Improving HR’s Analytics Capability Prevents Chaos Over New Overtime Rule

Visier

WorldatWork, a global association for HR management professionals, predicts that the new rule will have a significant impact on both workers and employers : “This phased-in approach will still disrupt long-term wage planning for many organizations, and future annual updates based on unknown increases will wreak even more havoc on compensation planning for large businesses.” This means eliminating the reliance on spreadsheets to assess and plan out the workforce.

Visier 204

The Immutable Laws of Compensation (Part 1)

Compensation Cafe

I was happy to see the repost Dan Walter’s article of the Newtonian Laws of Compensation Motion since I had been ruminating on the laws of compensation. . To paraphrase another Isaac, Isaac Asimov , everyone can rattle them off now, from the highest to the lowest; from the rarified intellectual heights of the Compensation Café reader, through nuclear physicists, college students, newspaper reporters, … busboys, all the way down to congressmen.

Workforce Planners: 4 Steps to Improving Profit Margins for Services

Visier

To further complicate things, when dealing with a multi-year project, the workforce will likely become more expensive within the contract’s lifetime. For professional services firms, keeping a close eye on rising workforce costs is crucial. Time is money and under-estimating workforce costs can seriously hurt profit margins. To learn more about strategic workforce planning , check out this blog post). The Power of Precision in Scenario Planning.

Visier 207

Are Your Sales Compensation Plans Just Experiments?

Compensation Cafe

If the commission plan is well designed and a salesperson hits it out of the ballpark, what's the problem? It looked at the compensation plan of a large U.S. Even though most of the salespeople won’t exceed quota, the fact that a ramp rate exists still makes the plan motivating. They’ve also improved commission plan design because they can use analytics to estimate the consequences of what will happen if certain variables change.

Gig Workers' Pay Varies by Classification and Industry

SHRM Resources

Benefits Workforce Planning CompensationSkilled workers and retirees are capitalizing on the tight labor market by turning to gig work. Often, their pay is better than traditional workers and many receive health benefits through a working spouse, new research reveals.

What is People Analytics and How Do I Get Started?

Visier - Talent Acquisition

At the same time, the volume of workforce data continues to grow at an unprecedented rate, but merely having this data isn’t enough to succeed. For example, a financial services organization used people analytics to considerably improve its workforce planning process.

Innovative HR and Why Technology Innovators Can’t Survive Without It

Visier

Indeed, investing resources into a top-notch HR analytics function — one with the right mix of people, processes, and technology — is key to successful workforce management in 2016 and beyond, no matter what industry you’re in. There are a few areas where technology companies commonly struggle to improve when it comes to their people: Recruitment, Workforce Diversity, Retention, and Strategic Workforce Planning. Advance Your Workforce Planning.

Visier 210

How ConAgra Foods Drove HR Transformation With Analytics-Driven Planning

Visier

When a company acquires another business, bringing the two workforces together is the single most challenging undertaking of the entire project. First, one has to get an accurate inventory of all the people, the locations in which they work, their job levels and the attendant compensation, accrued vesting in pensions, equity and other benefits, span of control, levels and titles, managers and supervisors.

Visier 233

Giving a voice to the voiceless with technology

The Aristocracy of HR

I will receive compensation for this post. Truitt Perception Retention Succession Planning Talent Think Innovations Technology The Aristocracy of HR Ultimate Software UltiPro UltiPro Perception Workforce Planning000020000010Campaign/FTC disclosure: This is a sponsored product review. I only work with companies I feel have great products, services and offerings.