Workforce Planning

Posted in Human Resource Terms, Total Reads: 1824
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Definition: Workforce Planning

Workforce Planning is a concept that combines elements of human capital, budgeting and strategic planning in order to identify the key talent needs of the company, analyzing the current workforce and supply of talent available, and finally, developing strategies to bridge gaps if any.

 

Analysis of the workforce would involve assessing the capabilities and competency and examining if the right people are present for the job. Further, the workforce diversity is also analysed - the evident ones like gender, physical capabilities, ethnicity etc. or underlying ones like education, experience etc.

 

It basically involves the following steps:

Workforce Planning


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