How to execute effective workforce planning

Workforce planning refers to the strategic alignment of an organisation's human capital with its business direction. This includes planning ahead to avoid any talent surplus or shortage that the company may experience. Workforce planning mainly involves analysing the current workforce, working with company directors to determine business objectives, determining future work needs, and implementing a direction that human resources should take for the company to fulfill its future ambitions. To summarise, workforce planning is "to get the right people, with the right skills, at the right time, with the right contract, and at the right cost."
To execute effective workforce planning, human resources must have good knowledge on how the business cycle runs throughout the year. HR professionals constantly complain about the boom-and-bust cycle of budget cuts, sudden growth, and the repeated cycle. Human resources always desires stability, but many fail to adapt and respond appropriately during the boom and bust phases of a business cycle.

In many cases, HR does not think of the company's future business plans and objectives, and is more focused on completing its own job for the short term. Human resources has two reasons for planning ahead in terms of workforce planning. The first reason is to lessen the impact caused by boom-and-bust phases in a business cycle, and the second reason is that it gives HR control over the talent pool of the organisation. Workforce planning can bring advantages to a company in terms of controlling talent pool and handling future objectives.

To effectively plan a company's workforce, one should take into account the following predictions:
1) Estimated increase or decrease of company growth, output, and revenue.
2) Estimates of talent needed that comes with company growth. This can include number of employees and skills needed.
3) Predictions of future vacancies.
4) Estimates of internal and external availability of talent needed to meet current and future company objectives.

Workforce planning can be impactful for a company. Being able to plan for the future results in advantages that can give one's company a competitive edge over rivals. Smoothing out business cycles by fine-tuning the company's talent pool can ensure smooth sailing through sudden changes in boom-and-bust cycles, while developing employee skills during these phases. With adequate workforce planning, companies can reach their goals in tough times.

Look out for further updates on our Facebook fan page!

Related Articles

  • 【人才管理】新冠肺炎掀裁員潮 企業須思考不同行政步驟

    【經濟日報專訊】新冠肺炎令大眾對生活及工作的穩定和價值帶來新定義,並凸顯醫護人士及速遞人員等不同工種的重要性。

  • 【自我增值】與同事意見不合又怕日後見面?4個方法幫你解決問題

    不少公司員工人數多,尤以大企業更分工成不同部門、不同團隊,每個人都難免會遇上觀念不合的同事。平日可能少講幾句可以平安無事,如果要合作肯定少不免吵上幾句。

  • 【職場熱話】高層最不能接受員工行為 榜首︰工作期間講粗言穢語

    【經濟日報專訊】時移世易,現時年輕一代打工仔大多數追求工作與生活平衡,新興的彈性自主工作如Freelancer、KOL、Blogger,甚至是Slash等在職場中湧現。那麼,作為傳統公司應該如何塑造一個自由氛圍的環境,令新一代不至於工作一兩年,到了開始能為公司創造價值的年期就悻悻然離去?

  • 【企業管理】LRC提供全面員工福利 貼心老闆︰無裁員計劃

    在新冠肺炎疫情爆發期間,香港各行各業受到不同程度的影響,當中款待業打擊最大。 「我們沒有裁員計劃,員工的工作保障及健康保障是十分重要的。」 Ladies’ Recreation Club (下稱LRC) 總經理Kurt Walter分享道。

  • 【職場貼士】被「炒魷」後可橫行無忌? 有8件事唔做得

    近日經濟不景,不少企業為了節省開支裁員,受影響的打工仔內心必定五味雜陳,不過即使已經或準備離開公司,也不代表打工仔可以隨心所欲,CTgoodjobs提醒各位打工仔,被炒或裁員後要遵守8個「不」:

  • 【轉工跳槽】近半打工仔無意轉工 最想請人的3個行業

    雖然新冠肺炎疫情似乎有緩和的跡象,近期確診個案數字亦處於低位,但是就業市場環境似乎未有太大起色,林鄭月娥亦表示......

  • 【職場見聞】攬功、不信任員工 調查:逾4成人因為上司而辭職!

    打工仔辭職的理由有很多,或許是不滿意工作內容,或許是不滿意公司文化、晉升前景等,但這一切原因,可能都與上司有關。外國網站 BambooHR的調查發現,44%打工仔辭職的原因都與上司有關,他們訪問了超過1,000名美國打工仔,讓他們以「完全不能接受」至「完全可以接受」來評價24種上司的討厭行為,最令人討厭的10種行為如下:

  • 【薪酬趨勢】港人平均月入$4萬 人工之高冠絕全球

    本港打工仔經常呻人工低,根據世邦魏理仕《2020全球生活報告》顯示,香港原來是全球月薪最高的城市,平均全職打工仔的月入約$4萬......

  • 【職場熱話】老闆貼錢加人工 打工仔仍堅持辭職?

    打工仔捱生捱死,都是為了每月份糧,加人工應該是滿心歡喜的事,但偏偏有老闆開口表示願意私下加薪,這名打工仔也要堅拒......

  • 【企業快訊】AXA專業培訓學院啟用 設一站式「數碼遙距」投保

    進入數碼化年代,不少行業均面對業務轉型的情況,互聯網發展促使用戶網上投保例如旅遊、家居保險等。隨著保險業發展愈趨複雜和多元化,特別是相對複雜產品如壽險、儲蓄及危疾等,客戶仍希望能與理財顧問溝通及聽取意見,以深入了解產品的內容及相關條款,選擇符合個人理財需要的方案,因此大型保險公司在未來5至10年,仍會以理財顧問為主導。