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:

• The strategic plan: Determine whether your current workforce is meeting your expectations and strategic business goals. From there, contemplate the next steps you should take to get to a point you’re pleased with.  
• External factors: Evaluate the outside factors that will potentially impact your workforce plan, such as remote or hybrid working arrangements, diversity and inclusion initiatives, or emerging market competition.  
• Workforce maintenance: Specify how you plan to strengthen your workforce, whether that means improved training and development opportunities, enhanced workplace culture, or initiatives to drive engagement.      

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:

• An economic downturn 
• Rapid business growth 
• Technological shifts or developments 
• Talent shortages or layoffs 

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.