Workforce planning is an emerging and highly sought after skill in the HR sector. Workforce...
Modeling, Planning & Analysis using HR & Workforce Planning Tools
Workforce Planning is one of the most important activities you can perform as an HR or Talent Leader.
It’s also one of the most complex, with many moving parts. In order to effectively build a workforce strategy, you need to be able to answer questions like:
What is the future demand for skills? What are the initiatives we will be running in 12 months time? How will they impact our workforce needs?
What skills do we have internally and what should we target? Who has the right skills but may not currently be in the right job?
Where do we need to invest in up-skilling and re-skilling our existing people and what is the return on investment (ROI) for doing so?
How can I more effectively model out different scenarios for my business and its impact on our workforce composition requirements?
There are a lot of tools on the market today that claim to be able to help you solve these problems. But when it comes down to it, which ones actually work and are worth your time and money? You want something that’s going to give you an accurate view into your future workforce requirements quickly so you can act with confidence.
What is HR and workforce planning?
Human resource planning and workforce planning is the process of analyzing your current workforce and projecting your future workforce needs. A strategic plan for an organization’s human resources is a key component of the business planning process, which includes identifying objectives, strategies and tactics to achieve those objectives.
HR professionals are responsible for creating HR plans that align with the organization’s goals and objectives. The result is a plan that allows you to meet all of your staffing requirements while minimizing costs associated with hiring new employees or retaining existing ones.
The problem with today's workforce planning tools
The current workforce planning process needs to be re-imagined.
Today’s workforce planning tools are not capable of addressing the most pressing challenges facing corporate HR departments and leaders today. These tools are outdated, inflexible, non-scalable and cost prohibitive for companies to use on a daily basis. In fact, many of these systems have been around since before social media was even invented. The software was built with a very specific business model in mind—one that doesn’t align well with how companies operate today.
Faethm is the leading tool for forward thinking organizations to manage their workforce
Organizations use Faethm in a variety of ways, from maximizing productivity and improving efficiencies, to planning for business growth and future workforce needs.
Organizations can leverage Faethm’s machine learning capabilities to build custom predictive models that provide insight into their workforce challenges. These models can help you predict the future, so you can plan your workforce accordingly—and stay ahead of disruptive change in demand patterns due to economic fluctuations or changes in technology adoption rates.
Faethm is proud to be the leader in HR and Workforce Planning. It’s an exciting time for our community and we’re thrilled to be a part of it.