With slow but uncertain economic growth on the horizon, organizations must strike a balance in their growth strategies between pursuing opportunities for growth and remaining adaptable to change (technological, economic, or political). This demand for flexible, adaptable growth strategies translates into a demand for strategic workforce planning that is equally flexible and adaptable. For these ambitious strategies to work, leaders need to understand where the business strategy leads and then analyze the ability of their current workforce to actually get there.
Which roles, competencies, skills, and behavioral types will organization need in the future? What is the difference between the desired future workforce and the current one? Answering these questions with a comprehensive assessment of current employee is a crucial step in the development of any workforce plan and equally important to tracking the progress the plan when in motion.
Historically, HR is known (fairly or unfairly) for its low comfort level with numbers and dollar amounts. Perhaps that is why functions such as Marketing, Sales and Finance have more influence in the executive suite. Now that many CEOs made improving and nurturing their human capital a major priority, the time has come for HR to get serious about analytics. In workforce planning especially, the ability to document, analyze and derive meaningful insight from workforce trends is crucial. How do HR leaders hire, build and retain the necessary skill set within their function?
Who is doing the work in organizations? Full-time employees? Part-time? Contingent workers? Very few organizations have a holistic view of the workforce and are missing opportunities to execute business strategy more effectively.