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

  • 【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。

  • HKMA最佳管理培訓及發展獎 表揚企業培訓成就

    香港管理專業協會(HKMA)早前頒發最佳管理培訓及發展獎,表揚各大機構於培訓工作上的成果,並提供平台讓業界交流。

  • 【人力趨勢】失業率惡化 專業人員跳槽月薪反增兩成

    【經濟日報專訊】部分行業失業率惡化,連帶管理層都受影響。經理及行政級人員失業率按年上升0.8個百分點,有人力顧問料主要為零售、酒店行業的高層。

  • HOT【人力趨勢】疫情下僱主、僱員對就業市場悲觀 近半企業凍結招聘

    新冠肺炎(武漢肺炎)疫情持續,本港經濟同時面對不同程度困境。統計處數字顯示,本港最新失業率升至3.4%,是自2016年10月的高位,當中餐飲業的失業率更高見6.1%,為8年來高位;其中建造業及零售及酒店業失業率續高企;貿易及批發業增幅亦明顯。

  • HOT【新冠肺炎】公務員逐步復工 專家︰企業是否跟隨考慮幾個因素

    【經濟日報專訊】本港由上月23日出現首宗新冠肺炎(武漢肺炎)輸入個案,至昨累計達93宗,接近破百關口,而昨2宗確診個案,均涉北角佛堂群組。而下周就踏入3月,本港疫情是否有回落迹象?社會是否應恢復正常工作安排?

  • 【防疫安排】不設在家工作安排 網民分享公司抗疫奇招

    新冠肺炎(武漢肺炎)疫情蔓延,本港確診個案連日來不斷增加。今次病毒主要由飛沫傳播,故政府亦建議市民盡量減少外出、聚會等社交接觸。特區政府更帶頭容許公務員在家工作,實施至今已長達一個月,同時建議私人機構效法。不過,有網民向社交媒體專頁《奴工處》投稿,批評公司的防疫措施,擔心疫情爆發。

  • 【人力趨勢】6成半中小企擬裁員 商會建議措施助度過難關

    【經濟日報專訊】新冠肺炎(武漢肺炎)打擊本港經濟,有商會調查顯示,86%中小企及初創業務受到嚴重影響,6成半企業更打算精簡公司架構和裁員。商會建議政府以補貼、低息或免息貸款方式資助中小企3個月的固定成本,以度過難關。

  • HOT【職涯規劃】連續2份工唔過試用期 寫CV、接Offer時要留意幾點!

    假使表現原來不像僱主預期?3個月試用期除了是讓你適應新工作,了解工作是否合適自己之外,也是讓僱主評估你工作表現的機會……

  • HOT【薪酬趨勢】2020年HR各職位最新起薪點 由$1.8萬起跳

    人力資源工作範疇廣,當中計算工資為最基本卻又最重要的一項,HR在調整薪酬時,又有沒有留意人力資源行業本身的薪酬走勢呢?最近招聘中介Morgan McKinley就發表《2020年薪酬指南》,列出各香港HR職位的起薪點及最高薪職位︰

  • HOT【人力趨勢】學者︰失業率預料7月見頂 兩大行業成重災區

    【經濟日報專訊】經濟下滑加上新冠肺炎(武漢肺炎)疫情蔓延,本港最新失業率升0.1個百分點至3.4%,是自2016年10月的高位;其中建造業及零售、餐飲和酒店業失業率續高企;貿易及批發業增幅亦明顯。