Payroll and other human resource expenses make up nearly 40% of a company’s costs. The lack of proper workforce planning can be costly. Strategic workforce planning ensures that the proper amount of people with the necessary skills are in the right jobs, at the right level, and at the right cost.
The workforce needs to evolve with change in work requirements, demands, and trends.
- The U.S. Census Bureau projects the exiting of “baby boomers” from the workplace and decline in birth rate translates to a 30% workforce reduction by 2050.
- Gaps in worker knowledge, skills, and abilities may be in key areas for your business leaving a lack of qualified candidates.
- Filling these skill gaps may require market premium costs for businesses that neglect planning to develop and retain people with key skills.
- New entrants to the workforce have different expectations from employees such as greater job fulfillment’s, greater use of technology, flexible work arrangements, and a well-defined career path.
Do YOU have the right stuff?
- Workforce scenario planning
- Workforce strategy
- Workforce alignment with new business
- Workforce demographic analysis
- Tailored assessments for vetting new employees
- Customized training
- OD specialists involved in planning
- Coaching, mentoring, and learning workplace culture