Workforce Analysis
Cracking the Workforce Code
Overview:
- Workforce analysis integrates employee and ROI data for decisions on recruitment, retention, and management.
Benefits:
- Cuts recruitment costs through efficient searches and background checks.
- Boosts retention with compensation monitoring and productivity tracking.
- Streamlines management by setting benchmarks and addressing skill gaps.
Focus Areas:
- Adapts to workforce changes and tech advancements.
- Optimizes costs through workforce efficiency and automation.
- Forecasts staff shortages, skill gaps, and ensures flexibility.
Utilization:
- Assesses growth, evaluates staffing profitability, and plans for future challenges.
- Guides action plans to bridge skill and competency gaps.
Components of a Smart Strategy:
- Organized, long-term plan aligned with the company’s mission.
- Focus on critical roles and functions for desired outcomes.
- Cost-effective tactics for optimal results.
Conducting Analysis:
- Categorize the current workforce using a detailed profile.
- Assess performance, potential, and plot future scenarios.
- Analyze the impact of future scenarios on workforce formation.
- Decide planned actions to address workforce issues.
Workforce Profile:
- Maps employee data, categorizing by job, department, and classification.
- May include age, gender, race, and disability for legal and inclusive adjustments.