Forecasting workforce demand—that is, the numbers of people, with the skills your organization will need two to three years from now—is full of uncertainties and it is typically more subjective than factual. In this video, Wayne Cascio shows you how to develop a meaningful forecast, first by identifying pivotal jobs and analyzing human capital risks, and then by asking probing questions that tap into the collective wisdom of managers who are close to the scene of operations.
- Forecasting workforce demand,…that is, the numbers of people with the skills…your organization will need two to three years from now,…is full of uncertainties.…Think about changes in technologies…or consumer buying habits.…As a result, forecasts of workforce demand…are often more subjective than quantitative.…In this video, I'll show you…how to develop a meaningful forecast.…You begin by identifying pivotal jobs.…
Pivotal jobs are those that drive strategy and revenue…and that differentiate your organization in the marketplace.…Next, you'll need to analyze human capital risks.…Human capital risks are anything people-related…that could limit the ability of a business to be successful.…For example, if Walmart wants to open more stores,…a key consideration is whether or not…it can find enough people to staff them.…The human capital risk is that without those people…the new stores won't be able to open.…
To discover the risks, you need to ask questions such as:…What's the impact on revenue…if we don't fill our open sales positions?…
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?