From the course: The Data Science of Using People Analytics

How to get started with strategic workforce planning

From the course: The Data Science of Using People Analytics

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How to get started with strategic workforce planning

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- Let's dive into one of the essential roles for people analysts, workforce planning. The goal of workforce planning is to ensure the talent in the organization can deliver for future business needs. That might sound simple in theory, but it's not simple in practice. Do you have the right number of people, and do they have the right skills to deliver? Companies might be confident they have the talent needed for the current month or quarter, but when asked about one year, two years, or three to five years out, they're less confident. For the people analyst, the process of workforce planning starts with an understanding of the business strategy. Next, we identify the gaps between the workforce of today and the talent needs of tomorrow. Finally, we collaborate with business to create an action plan to address the gaps and continue to monitor the progress. We have shared several questions in previous challenges to help you understand the business strategy. In this chapter, we will focus on the gap analysis part of the process. The gap we're referring to is the difference between the current workforce and future talent needs. To be able to measure this gap, we must first know how to measure labor demand and labor supply. Let's start with labor demand in the next video.

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