How low can it go?

Teresa Seux explains how Workforce Planning is fundamental to organisational fitness.

Unemployment is at a new record low of 3.4%. On top of that our workforce is aging and immigration is not keeping up with emigration, with the net result that skilled workers are in increasingly short supply.

Whew! Do you feel like someone keeps on lowering the bar in a game of limbo? The real question is:

“How do you ensure your organisation has an effective plan for operating in this environment?”

Try this quick checklist:

• Has your organisation identified its future workforce requirements?
• Do you know if skilled labour will be available?
• Do you know what the gap between the workforce supply and your demand will be in the next 2, 5 or 10 years?
• Will the aging profile of your organisation cause a loss of skilled workers and organisational knowledge?

The businesses which implement comprehensive Workforce Planning will be those which succeed in this environment. Workforce Planning is a vital part of the foundation for a truly strategic HR plan for your organisation and an essential part of your HR toolbox.

How you can win:
Workforce Planning enables:

• Your recruitment agency to develop a pro-active recruitment strategy which will ensure that there is a pipe-line of talent to fill vacancies.
  
  
• Pro-active recruitment which means significantly reduced costs for advertising and candidate search.
  
  
• Combined with good candidate management, this will also dramatically reduce the lead time between vacancy and appointment.
  
  
• Reduced lead times means you can minimise lost productivity and lost opportunity costs.
  
  
• Valuable know-how to be transferred before people leave enabling institutional knowledge to be retained.
  
  
• Business plans to be translated into meaningful and truly strategic Human Resource Planning.
  
  
• Attention to be focused on critical roles and supports the business case for an effective retention strategy.
  
  
• Cost savings through increased engagement and retention along with reduced external recruitment by identifying internal talent suitable for development.
  
  
• Identification of the need and provides tools for effective succession planning.
  
  
• Analysis of the age profile of the workforce and quantifiable support for initiatives to manage it.

Based on your business strategy, Workforce Planning involves identifying the gap between your current and future demand for people, as well as the supply of people needed to fill this demand.

Workforce Planning ensures you know which critical job roles and the critical skills you will need in the future. The Catalyst Employment Solutions Workforce Planning methodology also demonstrates where attrition is inhibiting your ability to meet your future needs.

Get flexible and ensure your organisation can win at this low unemployment limbo by developing a plan for the future of your workforce.

About the Author
Contact Teresa Seux, Catalyst Employment Solutions, Ph: (09) 302 0048, teresa@catalystemployment.co.nz, www.catalystemployment.co.nz,
Suite 704B Dingwall Building, 87-93 Queen St, Auckland Central

Teresa has 20 years senior HR management experience in a wide range of industries including international accounting and legal firms. Her qualifications include a degree in Sociology and Psychology, Diploma in Business Studies (Training & Development) and a Certificate in Personnel Management & Industrial Relations. She is an accredited member of HRINZ and business mentor.