Facing urgent skill shortages, many organisations are still unsure where their future talent will come from, or even what they will require in the New Year. Organisations adopting a ‘she’ll be right’ attitude when it comes to planning workforce future requirements are more likely to be left behind by the competition.
Organisations need the right people, in the right place, at the right time. This can only be accomplished by forecasting and planning for what will be required to meet business objectives. The market is fast accelerating away from ad hoc and band-aid approaches to talent acquisition, and rewarding employers whose wheels are already in motion with workforce planning strategies.
Case in point: Many organisations we are working with are geared for post-recession growth, but are held back by the lack of supply of the skills needed to reach business objectives. Sourcing in-demand talent is making or breaking organisations in the current climate, and organisations without workforce plans are, so to speak, being caught with their pants down.
Workforce planning needs to be fundamentally aligned to what is happening in the market. In focus are the various employment, contracting out and partnerships needed to make this happen because if there is a growing demand for goods or services in your industry, expect the talent to disappear, and fast.
Given the dynamics of the market, two types of organisations are becoming apparent. On the one side we are observing what we call ‘active’ employers, who are proactively building talent pipelines and relationships with talent communities in order to meet future business objectives. On the other side, are organisations that are slower at waking up to the new market realities. For these companies the fear is that their growth is constrained by their inability to source talent they desperately need.
- Our observations of active employers show that they have certain plans and strategies in place, including, but not limited to:
- Clear business objectives linked to talent requirements
- Forecasts of what talent will be required to meet those objectives
- Forecasts of staff turnover
- Budgets to meeting future staffing requirements
- Awareness of developing trends in future, the supply and demand of skills needed to implement business objectives
- Identification of possible spikes in productivity where contingent workers would be required
- Planned investment in the training and up-skilling of their current staff
- Tracked demographics of current staff to maintain age and gender balance
- Succession plans for key roles
So – what side of the fence are you sitting on? And can you meet your business objectives without world class talent? These types of questions are not limited only to large organisations, but are growing increasingly pertinent for smaller organisations who wish to remain competitive. We suggest you take the time to make sure your organisation isn’t the last kid that gets picked for the football team.
Wanting more information on how your organisation can develop workforce planning strategies?
Contact Jane Kennelly at Frog Recruitment today.