A mistaken assumption that many organizations make is that the future will be like the past. A second one is that it’s necessary to do SWP for all jobs. In this video, Wayne Cascio debunks both of those assumptions. He shows how scenario planning, with special emphasis on the implications for talent, makes more sense. He then explains how to learn from efforts to implement the elements of SWP in order to improve that process going forward.
- Consider this scenario. Your organization runs a chain of drugstores. Given your plans to expand by 30% over the next five years, you know you'll need to hire about 150 pharmacists and 300 store employees to staff the new stores. Top management is happy because the firm's business and HR plans are in sync. However, two years into this five year plan, there's a change of CEOs, and the new one moves aggressively to acquire a health insurance company.
Whammo, your original staffing plan is now in tatters because the business has changed. You thought you had the future clearly mapped out, but suddenly things changed dramatically. In this video, I'll help you make the wisest talent decisions in light of an uncertain future. In today's volatile, uncertain, complex, and ambiguous or VUCA world, nothing is certain. Business conditions are dynamic, and the best-laid plans are often useless when conditions change.
In other words, the future may not be like the past, so don't get locked into a vision. Do scenario planning to consider a variety of possible futures. The kinds of people you'll need to hire and retain may change depending on how various scenarios unfold. To help make sure your scenarios cover all the bases, include a lot of people with a variety of perspectives, and ask questions like, how will our organization look one year, three years, and five years from now.
Once you have answers to those questions, ask what are the implications for talent? What kinds of knowledge, skills, and abilities will we need? Should we make or buy that talent? Then revisit your scenario planning at least once a year, because business conditions will probably have changed. And when you're developing scenarios, planning for future talent needs, focus on jobs that are mission critical and pivotal. Mission critical jobs are those that need to be done for the company to stay in business.
Pivotal jobs are those that make a big difference in customer satisfaction. They're face to face with the customer, and the quality of talent in pivotal jobs has a huge impact on repeat business. For example, an airline needs to have pilots to stay in business, they're mission critical. But it's the flight attendants and customer service people who make the customers happy. They're pivotal because happy customers come back, and they tell their friends, who become new customers.
Mission critical jobs aren't necessarily seen, like the pilots and mechanics. Pivotal jobs are. So, as you plan for the future, remember that all plans are subject to change. Don't assume that the future will be like the past. And when it comes to talent, make sure you're focusing on mission critical and pivotal jobs. Strategic workforce planning will help you do that.
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?