What is workforce planning, and why is it important?

Workable

Table of contents: What is workforce planning? What is involved in workforce planning? How to create a workforce plan. What is workforce planning? Workforce planning aligns core business goals with people strategy.

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

Visier

One fascinating source of information that the BLS publishes is known as JOLTS , or Job Openings and Labor Turnover Survey. We are in an unprecedented war for talent: companies cannot hire fast enough to keep up with their workforce demands. “Companies cannot hire fast enough to keep up with their workforce demands” – @VisierAnalytics Click To Tweet. Today, HR has the opportunity to enter the spotlight again as a leader in workforce planning.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

The Future of Workforce Planning

HR Daily Advisor

by Scott Guinn, product marketing director for HR solutions, Anaplan. Employee turnover is extremely expensive, costing up to 1.5 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.

5 Steps to Avoid Talent Shortfalls Using Data-Driven Workforce Planning

Visier

a big postwar question, and ushered in an era of new revolutionary practices, such as coaching, job rotation, 360-degree feedback, high-potential tracks, and succession planning. Companies with poor workforce planning were at risk of going out of business or being sold off. As a result, almost all large companies dedicated an entire department to workforce planning, and HR played a powerful role. How long does it take for a new hire to become fully productive?

The Role Of HR Analytics In Workforce Planning

Get Hppy

An unprecedented increase in job openings shows that the demand for talent is forcing companies to plan better and recruit better. Workforce planning and HR analytics have become a key focus point for HR professionals around the world, as they confront new challenges in finding and retaining the right employees. Companies cannot hire fast enough to keep up with their workforce demands.”. The challenge of workforce planning.

HR Leader Perspective: How Finance Should Think about Workforce Planning

Workday

I’m in the workforce business. Yet many organizations, while acknowledging the importance of people to their success, seem to take only a passing interest in the importance of workforce planning , if they think about it at all. I asked him about his expectations for workforce planning at the company. There’s a lot to unpack from that anecdote, but what sticks with me is that, to this executive at least, workforce planning amounted to correctly counting heads.

Curbing Employee Turnover Contagion in the Workplace

Visier

Turnover Contagion: Tracing the Source. It’s also a lesson for HR leaders looking to treat a viral event of a different sort: turnover contagion. Turnover contagion happens when people quit their jobs simply because other people are talking about leaving, job searching, or actually jumping ship. In other words, voluntary turnover doesn’t just happen in isolation due to an individual’s job satisfaction issues. Plan for Potential Triggers.

STRATEGIC WORKFORCE PLANNING: A MUST HAVE 2019 NEW YEAR’S RESOLUTION

myhrtoolkit

Among the chaos, do you think your workforce plan is ready to kick into gear come 02 January 2019? I’m taking a calculated guess that the answer is more of a “nay or a “meh”, than a yeah… The cliché of “fail to plan, is planning to fail” does have a twin brother called “failing to plan strategically, guarantees failing to succeed operationally”. DEFINING SWP – STRATEGIC WORKFORCE PLANNING. It has arrived!!!

How Foot Locker Can Reduce Employee Turnover with Workforce Analytics

Visier

With voluntary resignations at an all-time high and unemployment rates historically low, employee retention is a key objective for most HR organizations, and employee turnover is the single most prevalent HR metric. However, even for progressive brands like Foot Locker, simply knowing the turnover rate does little to support strategic business plans. Why should HR make employee retention a priority? The Era of Foot Locker Workforce Analytics.

Predicting Employee Turnover using R

Analytics in HR

Employee turnover is a major challenge for companies today, especially when the labor market is competitive and certain skills are in high demand. When an employee leaves, not only is the productivity of that person lost, but the productivity of many others is impacted. Retention of valued employees makes good business sense. The post Predicting Employee Turnover using R appeared first on Analytics in HR.

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

Visier

While the race to out-innovate with new ideas and products fuels the technology industry at large, the competition between companies is fought most pervasively as on the talent front lines. 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. Develop The Right Mix of Workforce Diversity.

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

Visier

While the race to out-innovate with new ideas and products fuels the technology industry at large, the competition between companies is fought most pervasively as on the talent front lines. 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. Develop The Right Mix of Workforce Diversity.

How To Reduce Employee Turnover with Workforce Analytics

Visier - Talent Acquisition

With voluntary resignations at an all-time high and unemployment rates historically low, employee retention is a key objective for most HR organizations, and employee turnover is the single most prevalent HR metric. However, knowing your turnover rate does little to support strategic business plans. To achieve true insight, a more in-depth analysis of what’s causing turnover in different parts of the organization is required. The Era of Workforce Analytics.

How Does Turnover Impact Your Organization’s Bottom Line?

Visier - Talent Acquisition

Employee turnover is a critical challenge that almost all HR managers stress over. Turnover rate is a typical measurement that many organizations use as a scorecard for HR. Changing the question from “What is our turnover rate?” to “What is the cost of our turnover?”

Everything You Need to Know About Employee Retention

TalenX

In addition to replacing one skilled professional, HR will also face additional responsibility for implementing strategies for employee retention. What is employee retention? It means that the company has been successful in its employee retention strategies.

Tech spend rising, but adoption challenges remain

HRExecutive

It appears employers will be opening up their checkbooks in 2020 for HR technology, according to a new survey that reports seven out of 10 companies plan to boost spending on HR tech this year. Workforce planning (38%).

Five Powerful Ways Your HR Team Can Leverage Big Data

SuccessFactors

Analyzing Big Data helps businesses get better insights, understand processes within the company, make important business decisions according to patterns found in research and analysis, and plan strategic business moves. Big Data also has an affect on existing staff; for example, by learning what increases and decreases productivity, work processes can be adjusted. Planning. Analyzing various internal surveys can help HR understand what improves retention.

Dissecting the employer disconnect in HR tech

HRExecutive

workforce changing jobs annually, the result is a $250 billion-plus market just for products related to recruitment, advertisement, assessment and interviewing. You can get the best product on the market and spend millions of dollars.

How to (Really) Get to Workplace Satisfaction

AvilarHR

With the rapid acceleration of technology evolution, globalization, and the changing demographics of tomorrow’s workforce, employers must make optimizing their workforce a priority if they want to remain competitive. So…is it more important to optimize the skills of your workforce or to make your employees happy? Let’s weigh the importance of employee satisfaction on job performance against the workforce optimization factors influencing workplace satisfaction.

Using people analytics to improve health care performance

HR Times

Using data to drive more effective health care workforce planning. Along with overall consolidation in the industry, the health care workforce is undergoing radical changes that come with challenges: Rising turnover —While the national rate of hospital employee turnover leveled off at 17.1 percent in 2015 (slightly below 2014), 2 bedside registered nurse (RN) turnover increased from 16.4 More than half (55 percent) of the RN workforce is age 50 or older.

HR: Workforce Dynamics Are Driving Change In Oil And Gas

SuccessFactors

And we see many factors driving the shifting oil and gas workforce, including demographics, technology, and globalization. Those responsible for leading talent acquisition, growth, and retention will increasingly be in pivotal roles. Agility will be another key differentiator because HR leaders will increasingly recognize that, just as product and delivery cycles accelerate, HR solution lifecycles must also accelerate. Plus, it had turnover issues due to an aging workforce.

HR: Workforce Dynamics Are Driving Change In Oil And Gas

SuccessFactors

And we see many factors driving the shifting oil and gas workforce, including demographics, technology, and globalization. Those responsible for leading talent acquisition, growth, and retention will increasingly be in pivotal roles. Agility will be another key differentiator because HR leaders will increasingly recognize that, just as product and delivery cycles accelerate, HR solution lifecycles must also accelerate. Plus, it had turnover issues due to an aging workforce.

Transformational HR: Key Metrics Being Tracked By Strategic HR Departments

Eightfold

Data-driven insights are now uncovering issues, influencing organization decisions and investments, and driving continuous improvement within firms,” writes David Fineman , former leader of Deloitte’s Workforce Transformation People Analytics and Workforce Planning program.

What is HR Data Analytics & How Do We Leverage It?

Ultimate Software

But in contrast to the murky ethics of sourcing and selling consumer-driven data , leveraging internal HR data analytics to make better workforce decisions has been a key Human Resources best practice for decades. HR analytics may be referred to as people analytics, workforce analytics, or talent analytics depending on the context of the data. From Data Reporting to Prediction: A Retention Case Study. Last year’s annual employee turnover.

Using people analytics to improve health care performance

Bersin

Using data to drive more effective health care workforce planning. Along with overall consolidation in the industry, the health care workforce is undergoing radical changes that come with challenges: Rising turnover —While the national rate of hospital employee turnover leveled off at 17.1 percent in 2015 (slightly below 2014), 2 bedside registered nurse (RN) turnover increased from 16.4 More than half (55 percent) of the RN workforce is age 50 or older.

Promoting from Within Should Be a Priority

HSD Metrics

A compilation of the skills, education and experiences of current employees will help guide workforce planning. Knowing what the position requirements are along with the internal capabilities that exist, will help increase the speed with which positions are filled, reduce the cost of recruiting, decrease employee onboarding and training time, and increase productivity and company morale. “The department that I was in did not acknowledge the skill sets of the employees there.

CEO Insights: Workforce Management Trends 2017

DATIS

The increased demand for Health and Human Services has put pressure on executives within the industry to grow their workforces at an accelerated rate. To better understand the mindset of the modern-day Chief Executive Officer, we conducted our 2017 Workforce Management Trends Survey. The survey asked many CEOs in the Health and Human Services industry about their workforces, plans for the year ahead, and their top priorities for this year.

Trends 100

How to Measure the Value of People Analytics

Reflektive

More than half (52%) of organizations that use people analytics rate themselves as excellent at conducting multi-year workforce planning, while an additional 38% rate themselves as adequate. The progression looks like this: Data collection; people analytics; data-driven decision-making; improvement in employee hiring, development, and engagement; improved workforce productivity; return on investment; competitive advantage. Turnover rates within the first year.

Power of Pods: Teamwork in the Workplace

DATIS

This is driving many executives to rethink the traditional organizational structure that can stifle productivity, communication, and innovation. In fact, in a recent Workforce Management Trends survey , executives identified communication barriers, siloed information, and a lack of cross-functional talent as the top three deterrents to cross-departmental collaboration within their organization. Workforce Management

Effective People Analytics: the Importance of Taking Action

Analytics in HR

For example, you decide one action to reduce turnover is to train the retained employees to sell new products, which leads to increased revenue. The stories above have one other key component: The narrative stems from connecting the workforce data and insights to business results.

Why Data is the Key to Strategic HR Decisions

Visier

Workforce analytics are now better than ever, but organizations need to properly access them, align their information with decision-making, and act accordingly. The competitive urgency to use analytics isn’t new; however, in the past two years there has been an increased understanding that workforce intelligence is not just about making HR better, it’s about making the business better. It’s modeling and forecasting to make better business decisions on areas such as: Turnover.

Data 239

The 21 metrics you need for Strategic Workforce Development

Analytics in HR

This is where strategic workforce planning, or development, comes in. This is a structured business process designed to proactively anticipate, and plan for, future personnel needs. Strategic workforce development: what’s in the name.

The Sharp Drop-Off in Worker Happiness and What You Can do About it

TalentCulture

As I began reading his announcement, I fully expected it to be an animated recounting of all the new hobbies he planned to pursue and exotic trips he intended to take. People were already unhappy, but the recession years have made things much worse,” says John Gibbons, formerly of the Conference Board and now Vice President of Research and Development at the Institute For Corporate Productivity. Plan one-on-one meetings and re-discover the dreams each person has at work.

Engaged, Happy … And Looking to Leave

HRExecutive

A certain amount of employee turnover is an expected and accepted part of doing business, and there will always be a certain (hopefully small) number of disengaged, disgruntled workers angling to leave your organization. workforce,” according to Mercer—finds 45 percent of employees who report being “very satisfied” with their organizations are still looking to leave, with 42 percent of employees who consider themselves very satisfied in their jobs saying the same.

Why HR Data is the Key to Strategic Business Decisions

Visier - Talent Acquisition

The competitive urgency to use HR analytics isn’t new; however, in the past two years there has been an increased understanding that workforce intelligence is not just about making HR better, it’s about making the business better. Churn/Retention.

Data 79