Consultation competency
The ability to provide guidance to organizational stakeholders.
workforce planning
first step in the workforce management
... [Show More] process; involves all the activities needed to ensure that workforce size and competencies meet current and future organizational and individual needs
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workforce analysis
Systematic approach to anticipate human capital needs and data HR professionals can use to ensure that appropriate knowledge, skills, or abilities will be available when needed to accomplish organizational goals and objectives.
forecasting
used to estimate future workforce supply and demand; Sound forecasting requires environmental scanning—for example, the age of the current workforce or the availability of certain skills in the market
workforce analysis process
Supply Analysis (where are we now?), Demand Analysis (where do we want to be?), Gap Analysis (what is lacking?), Solution Analysis (what can we afford?)
Supply Analysis (1st step)
Where are we now? What do we have?
determining if there are sufficient types and numbers of employees currently available
Demand Analysis (2nd step)
Where do we want to be? What do we need?
A type of research used to estimate how much customer demand there is for a particular product and understand the factors driving that demand in the future
gap analysis (3rd step)
what is lacking? what knowledge, skills, or abilities currently exist and are needed in the future? may identify deficiencies in staffing needs as well as any surplus of staffing levels in certain jobs and/or competencies
Solution Analysis (4th step)
What can we afford? How will we get what we need? This is when an organization decides whether to "build," "buy," or "borrow" the talent needed to attain the staffing levels and competencies required to meet the tactical objectives
turnover rate
tracks the number of separations and the total number of workforce employees per month. Start by taking total number of employees for the year divided by 12 months. For example, total employees of 2,704/12 = 225 employees. Then divide the number of separations for the year by the average number of employees per month: 65/225 = 28.9%
turnover
the act of replacing employees leaving an organization or the attrition or loss of employees
flow analysis
Supply analysis tool that analyzes employee inflow and outflow (transfers, promotions, etc.) to predict future movement. Allows the HR manager to visualize the change in the department and predict future staffing needs.
Judgmental forecasts
apply expert judgment to information from the past and present to predict future conditions and staffing needs and to understand opportunities and threats that can affect the staffing plan.
Statistical forecasting
generally fall into two categories: regression analysis and simulations
regression analysis
A method of predicting sales based on finding a relationship between past sales and one or more independent variables, such as population or income. Can be subdivided into two types: simple linear regression and multiple linear regression
simple linear regression
Projection of future demand based on a past relationship; involves a single variable. For example, a relationship between gross sales and the number of employees
multiple linear regression
Statistical method that can be used to project future demand; several variables are utilized. For example, hours of operation might be added to gross sales to determine the number of employees needed.
simulations
Representations of real situations; give organizations the opportunity to speculate as to what would happen if certain courses of action were pursued.
skill gap
New skills are needed to perform new jobs. [Show Less]