Organizational success today hinges on a team’s ability to adapt, innovate, and stay ahead of the curve. Strategic workforce planning has emerged as a powerful tool for helping businesses remain agile and productive in the face of change.
By aligning an organization’s workforce with its long-term goals and challenges, a thorough strategic workforce plan promotes sustainable business growth, optimized talent utilization, and confidence in navigating unpredictable business landscapes. Read on for a closer look at how to implement a strategic workforce plan effectively and the benefits your organization receives as a result.
What is strategic workforce planning?
The value of a comprehensive workforce plan
Amid economic uncertainty and continued labor shortages, a thorough workforce plan offers a host of valuable benefits to organizations, including:
6 steps for successful strategic workforce planning
Over the last few years, an increasing number of organizations have adopted strategic workforce planning processes to consider multi-year scenarios for future growth. Still, a report from Innovative Benefit Planning reveals that less than 50% of employers have a truly effective, strategic workforce plan in place.
Consider the following steps to craft an extensive strategic workforce plan:
1. Consider your long-term business goals
A strong workforce plan starts with a solid foundation. Take the time to ensure all organizational leaders and stakeholders are aligned on the company’s goals and future objectives, including the workforce changes that are necessary to achieve them.
Whether your long-term goals involve expanding into new markets, launching new products, or restructuring operations, this agreement should encompass more than just your HR department but also your finance, operations, line managers, and executive leadership teams.
2. Analyze your current workforce
With your business objectives in mind, it’s important to assess your current workforce. For a comprehensive view of your talent, examine the individuals you have in each specific role, each team member’s skills, strengths, and weaknesses, demographic trends, and turnover rates.
There are three main factors influencing workforce planning to consider:
3. Identify current and future skills gaps
Use the information you’ve gathered about your current workforce to inform your labor strategies moving forward. This helps you determine the training, recruitment, or internal development programs necessary to minimize future skills gaps.
You might consider whether a permanent or project-based role can help you reach talent with the right skills or invest in upskilling current staff to avoid looking for new hires with the right qualifications. Performing a skills gap analysis can also provide a comprehensive view of your entire workforce to help streamline your strategic workforce planning process.
4. Prepare for different scenarios and anticipate problems
The future is uncertain, but that doesn’t mean you have to move forward unprepared. Getting ready for unexpected scenarios and developing actionable steps for if or when they arise helps businesses secure a competitive edge by remaining agile in rapidly changing times.
It’s beneficial to consider situations involving:
5. Consider external advice or support
Strategic workforce planning can quickly become a daunting task for your organization, but you don’t have to go at it alone. IFor best results, seek external support throughout the process.
Taking advantage of external help by working with an industry expert like Employbridge can bolster your organization with valuable insights and best practices. Partners also offer access to additional resources and perspectives that boost talent planning and results.
6. Implement, monitor, and adapt your plan
Finally, after establishing a comprehensive plan, it’s time for implementation. But the job doesn’t stop there. Remember that business environments are constantly changing, making it essential to consistently review the workforce plan in place, track your progress, and make necessary updates along the way.
As you create and implement a more thorough workforce plan, there are a few additional strategies worth considering to strengthen its effectiveness. Helpful tactics include:
Achieve workforce planning goals with help from a trusted partner
A strategic workforce plan is an indispensable tool for maintaining agility and resilience. As organizations start their strategic workforce planning, Employbridge is here to help along the way.
With over 30 years of experience, we blend the expertise of a national staffing leader with the adaptability of a cutting-edge workforce-as-a-service solution. Our deep industry knowledge and comprehensive management, measurement, and reporting services promote your long-term workforce goals. And, with the help of innovating technology, you can access higher-quality talent, increase placement rates, and speed up your time-to-fill moving forward.
Employbridge emerges as a true partner in helping you create a future-ready workforce that not only meets today’s demands but has the potential to thrive in continuously evolving environments. Ready to boos your strategic workforce planning with help from a trusted partner?