Firms develop strategic business and workforce plans to manage risks and to reduce the impact of uncertainty. In this video, Wayne Cascio highlights the essential elements of a strategic workforce planning system and shows you how to facilitate leadership succession and to compare candidates by developing a common set of leadership behaviors.
- It's highly unlikely that you need A players…in all jobs in your organization,…so strategic workforce planning…should focus on pivotal roles,…roles that are central to an organization's strategy.…Once you've identified roles that are quality…or quantity pivotal, it's time to implement your SWP.…There are three main purposes…for strategic workforce planning:…to anticipate and respond to talent needs,…to determine priorities for hiring…or developing that talent, and to allocate resources…where they can do the most good.…
There are three components that make up an SWP system:…a talent inventory to assess current resources,…workforce forecasts to predict future talent requirements,…and action plans to enlarge the pool…of qualified individuals.…When these three components are in place,…the next step is to monitor and evaluate the process.…For example, it's important to gather feedback…and collect information about how well…you achieve the goals and objectives…you set for talent in your organization.…
To compare candidates,…
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?