HCI Reveals the Secret to Strategic Workforce Planning Success in New Research
Report Explores the Challenges and Best Practices in Adopting Strategic Workforce Planning Initiatives to Ensure Alignment between Talent and Business Goals
NEW YORK (November 17, 2014) – The Human Capital Institute (HCI), the global institution for strategic talent management, today announced the release of its latest research, “Successful Strategic Workforce Planning Through Collaboration.” This new report highlights the value of strategic workforce planning (SWP) and addresses the strategies organizations can use to develop an effective program.
Organizations today face a number of challenges, from increased competition for talent and growing disengagement among employees to rising demand for flexible work arrangements. These factors have driven the need for SWP, or the process of defining and deploying the mission-critical talent needed to align an organization strategically with its future goals and objectives. Through this critical function, companies can ensure the right talent is in place to help it grow and remain competitive.
Despite the importance of SWP, it continues to be an area in which many organizations struggle. But the companies that get it right understand that strategic workforce planning must be a collaborative process, involving full alignment between people, data and technology. With these factors in place, the company can drive the important changes that lead to successful SWP and positive overall business results.
“Successful Strategic Workforce Planning Through Collaboration” is based on survey responses of nearly 400 individuals, in addition to interviews with subject matter experts and numerous secondary sources. Key findings from the research include:
- A Disconnect between Expectations and Results: Although 69% of respondents report that SWP is an essential or high priority at their organizations, almost half (45%) report that their organization is unprepared for the talent needs of the future.
- SWP is Underutilized: Overall, 43% of those surveyed said that their SWP process is scalable across the organization, and even less (37%) stated that their SWP process is used throughout the organization.
- The Biggest Obstacles: Factors such as lack of resources and commitment to the process, an unclear definition of SWP and poor technology continue to be the biggest barriers to SWP success.
- Additional Shortcomings: Almost three-fourths (73 percent) of respondents rate their technology for SWP as far from ideal, and 52% report that their organization is not adequately staffed to conduct SWP.
“Strategic workforce planning has become an integral business function for today’s organizations; those that fail to embrace it will likely struggle to have the right talent in place, achieve key objectives and operate sustainably,” said Carl Rhodes, HCI’s chief executive officer. “However, the companies that understand how the intersection of analytics, technology and collaboration can support overall business strategy will be better suited for success. This signature research helps to illuminate the best practices organizations can implement to overcome the pitfalls and ensure an effective approach to SWP.”
HCI will present the results of this research in an upcoming webinar on Thursday, November 20, 2014 at 4:00 p.m. EST. Attendees of the webinar will also receive a complimentary copy of “Successful Strategic Workforce Planning Through Collaboration.” Registration details are available at: http://www.hci.org/lib/successful-strategic-workforce-planning-through-collaboration-analytics-and-technology.
About HCI Research
HCI is a premier thought leader in the new discipline of strategic talent management with an unparalleled reputation for innovation, leadership and excellence, demonstrated through cutting-edge research and analysis. HCI Research draws from the knowledge of a large network of executive practitioners, expert consultants, leading academics and thought leaders, as well as thorough quantitative and qualitative analysis, to produce insightful findings and recommendations that shape strategy and encourage action across the continuum of talent management. To learn more, please visit: http://www.hci.org/content/research.
About Human Capital Institute (HCI)
HCI is the global association for strategic talent management and new economy leadership, and a clearinghouse for best practices and new ideas. Our network of expert practitioners, Fortune 1000 and Global 2000 corporations, government agencies, global consultants and business schools contribute a stream of constantly evolving information, the best of which is organized, analyzed and shared with members through HCI communities, research, education and events. For more information, please visit www.hci.org.