Summary:
A few years ago, many HR executives developed workforce-management models with two main assumptions – droves of baby boomers will soon retire and entry-level workers will hop from job to job. Throwing a wrench into those models is the fact that neither group is doing as expected due to the economic crisis.
More that half of HR professionals reported that their workforce-planning models were “moderately effective,” and nearly a quarter surveyed reported “slightly effective,” according to a study conducted by the Institute for Corporate Productivity.
This author asserts that a model should consist of a basic dashboard that clearly outlines the economic assumptions the company has made to support its model, and make sure it can be easily changed if the economic atmosphere changes in the future.
Article Quote:
“Strategic planning can help identify likely scenarios that the organization should be planning for; finance understands the labor costs and financial requirements for each likely economic scenario; and HR, of course, knows the labor market and the skill levels of the organization’s people.”
Link:http://www.hreonline.com/HRE/story.jsp?storyId=305177010
Incorporating work-force planning into the strategic planning process will keep it dynamic and adjustable to change. Models are only good if the assumptions built into them are accurate. Strategic planning technology can save frustration and provide clarity on objectives and their performance by incorporating scenario planning with the ability to track results. This allows businesses to remain flexible when factors change.
For more information on strategic planning, see http://www.performancesolutionstech.com/category/strategicplanning/
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