| Strategic Workforce Planning is the process for | | | | identified in step 2. This plan could include identifying |
| ensuring that an organization has suitable access to | | | | internal employees who could fill the gap, partnering |
| talent to ensure future business success. The aim of | | | | with academic institutions for future recruitment, |
| this process is that a company should have enough | | | | following an intern program to recruit, availing the |
| human resource, with adequate skills and | | | | services of external recruiting agencies, etc. Internal |
| competencies, in the future to take care of its | | | | employees should be judged on their skills and |
| requirements. | | | | competencies and the total number of annualized |
| Following are the five steps an organization should | | | | hours they have put in till date. |
| follow to implement an effective workforce planning | | | | Step 4: Implementing the plan |
| program: | | | | Properly implementing the plan is as important a step |
| Step 1: Strategic Direction Setting | | | | as developing one. The top management plays a |
| In this step, an organization should clearly define the | | | | crucial role in this step. They must ensure that the plan |
| reasons why it wants to undertake workforce | | | | is being implemented according to needs of the |
| planning. The skills and competencies of existing | | | | organization. They should ensure that all the future |
| employees should be kept in mind as well as all the | | | | hiring and retention needs of an organization will be |
| resources available to it and the course of action it will | | | | fulfilled with this plan. |
| follow in the future. After considering all these factors | | | | Step 5: Evaluate and Revise the plan |
| a team of professionals should be set up which will | | | | The final step of this process involves evaluating the |
| assist in the workforce planning process. | | | | plan periodically to ensure that it is fulfilling all the |
| Step 2: Calculate the difference between demand and | | | | requirements of the organization, and suggesting any |
| supply | | | | change in the plan, if required. The plan should be |
| Workforce planners should gather relevant data and | | | | compared with the benchmark laid down earlier, and if |
| information about the future demand, for human | | | | any discrepancies are found then necessary changes |
| resource, by the company and the projected supply at | | | | should be suggested. These changes should be |
| that time and task to be fulfilled by that workforce. | | | | communicated to all the persons who are in any way |
| This can be done by analyzing the planning documents | | | | involved with the workforce planning process. |
| of the organization, reviewing the financial budgeting | | | | A properly planned, implemented and evaluated |
| accounts, and setting assumptions accordingly. | | | | workforce planning process would go a long way in |
| Step 3: Developing an action Plan | | | | ensuring a stable and profitable future of an |
| An action plan should be developed to fill the gaps | | | | organization. |