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Workforce Planning Model: Process, Benefits, Elements & Examples

HR Lineup

This includes predicting retirements, turnover rates, expansion plans, and changes in skill requirements. Implementation: The workforce planning model is not merely a theoretical exercise but requires effective implementation. Data Analytics and Insights: Data Collection: Gathering and analyzing relevant data is fundamental.

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Prepare for Nurse Retirements and Shortage with Intelligent Workforce Planning

Visier

With baby boomers heading into retirement — by 2050 an estimated 88.5 But there is another retirement population that is perhaps even more worrying to them: nurses. This means that more than one million RN’s will reach retirement age within the next 10-15 years, leading to a drastic shortage of skilled, tenured nurses.

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The Delicate Art of Choosing Part-Time vs. Full-Time Workers

Homebase

It’s an easy exercise with the potential for a huge payoff. Cons of full-time jobs Higher costs: Going full-time often means more benefits like health insurance and retirement plans, bumping up your overall labor costs. But have you ever sat down and defined part-time vs. full-time work at your business?

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Why HR Needs Data-Driven Workforce Planning to Avoid Talent Shortfalls

Visier

In the following graph, we see how many hires are being made, by comparison to the number of job openings: For nearly the entire history of the JOLTS data, more hires are tracked than job openings, but recently this relationship has switched. What critical skills will we lose from retiring workers in the next 5 years?

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7 essential retirement plan questions

Insperity

It’s no secret that current and prospective employees want their employer to offer a retirement plan. Whether your company is looking for a new retirement plan provider or reviewing your current retirement benefits, the first thing you need to understand is one size does not fit all. What does the per-pay-date process look like?

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Benefits flexibility: Why it’s a must-have for a 5-generation workforce

HRExecutive

Still, those employees who have continued to work past the traditional retirement age are focused on remaining healthy and productive at work and managing chronic conditions. Meanwhile, millennials prioritize weight loss with their exercise and focus on strength and nutrition over cardiovascular fitness. children.

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New Employee Classifications Could Change How You Categorize Staff

PeopleStrategy

Analyze whether the employer dictates the work schedule, provides instructions on how tasks should be completed, or exercises significant oversight over the worker’s activities. Assess whether the worker’s specialized knowledge or ability to exercise independent judgment significantly impacts the outcome of their work.