Planned expansions, the aging of the present workforce, as well as normal attrition, make it necessary to project talent needs in order to prevent potential employee shortages from arising, and for dealing effectively with projected surpluses. In this video, learn how to forecast the internal supply of labor as well as how to identify the total external supply in various fields.
- Several years ago 47,000 jobs opened up worldwide…in the field of computer animation.…At the same time only 14,000 animators…graduated from art school.…Uh-oh, that kind of mismatch between the demand for…and the supply of new workers bids up starting salaries…as lots of firms compete…for a small number of qualified candidates.…And in some cases new hires may actually end up…earning more than senior people at the same company.…
In this video I'll show you how to forecast…internal labor supply and how to identify…the total external supply of available talent…in various fields.…Both numbers are important to strategic workforce planning.…While you may think you can recruit…enough outside hires to meet your needs,…you don't actually know that until you consider…the total industry demand for the same types of workers.…That kind of analysis may reveal an impending shortage…and signal the need for more widespread…and sophisticated recruiting efforts.…
Several agencies regularly make projections…of the total demand by employers for certain kinds of talent…
Wayne reviews what SWP is and how it delivers value to companies large and small. He steps through how to build a talent inventory, forecast the internal and external supply of labor, and approach succession planning. Plus, he explains how to tackle global talent management effectively.
- What is strategic workforce planning (SWP)?
- How does SWP deliver value?
- Building a talent inventory
- Forecasting the internal and external workforce supply
- Succession planning
- Evaluating the usefulness of SWP systems
- Who owns talent development?