Talent Management - November 2008 - (Page 37) Figure 1: Workforce Planning Staff Location and Competitive Advantage 60% 52% 46% 39% 27% 24% 24% N/A Workforce planning gives no advantage 15% 13% Workforce planning gives an advantage Human resources In business units Management Figure 2: Workforce Planning Forecasting Time Frame Now 1 Staffing forecast (Budgeting time frame) 3 Workforce planning (Strategic planning time frame) 5+ occur beyond the forecast time frame. For example, a technology organization recently conducted a workforce planning exercise with a four-year planning horizon. The company was planning to implement a new technology that would change its entire operations five years out. Therefore, workforce plans that did not take the technology change into consideration were considered invalid. Pitfall No. 3: Starting With too Broad of a Scope Trying to do workforce planning for an entire organization during the first iteration will almost certainly become overwhelming and limit program success. Starting small — with five to 10 critical job roles, for example — is recommended, allowing time to refine the process before expanding to additional job roles. It typically takes three workforce planning cycles to understand how to make the process work effectively within a company’s culture and planning cycles. Additionally, starting small will help build internal credibility and solidify support. A few years back, a major financial services firm wanted to implement workforce planning but had to seek out business units and convince them of the value. However, once work- Figure 3: Workforce Planning Software and Competitive Advantage 56% 40% 40% 29% 20% 15% Does not use software N/A Uses software Workforce planning gives no advantage November 2008 Workforce planning gives an advantage talent management magazine www.talentmgt.com 37 http://www.talentmgt.com
Table of Contents Feed for the Digital Edition of Talent Management - November 2008 Talent Management - November 2008 Editor’s Letter Contents Human Performance Leading Edge Learning Connections Recruitment & Retention Assessment & Evaluation Compensation & Benefits Performance Management Learning & Development Succession Planning Insight Dashboard Application Advertisers’ Index Editorial Resources Full Potential Talent Management - November 2008 Talent Management - November 2008 - (Page Intro) Talent Management - November 2008 - Talent Management - November 2008 (Page Cover1) Talent Management - November 2008 - Talent Management - November 2008 (Page Cover2) Talent Management - November 2008 - Talent Management - November 2008 (Page 3) Talent Management - November 2008 - Editor’s Letter (Page 4) Talent Management - November 2008 - Editor’s Letter (Page 5) Talent Management - November 2008 - Editor’s Letter (Page 6) Talent Management - November 2008 - Editor’s Letter (Page 7) Talent Management - November 2008 - Contents (Page 8) Talent Management - November 2008 - Contents (Page 9) Talent Management - November 2008 - Human Performance (Page 10) Talent Management - November 2008 - Human Performance (Page 11) Talent Management - November 2008 - Leading Edge (Page 12) Talent Management - November 2008 - Leading Edge (Page 13) Talent Management - November 2008 - Learning Connections (Page 14) Talent Management - November 2008 - Learning Connections (Page 15) Talent Management - November 2008 - Recruitment & Retention (Page 16) Talent Management - November 2008 - Recruitment & Retention (Page 17) Talent Management - November 2008 - Recruitment & Retention (Page 18) Talent Management - November 2008 - Recruitment & Retention (Page 19) Talent Management - November 2008 - Assessment & Evaluation (Page 20) Talent Management - November 2008 - Assessment & Evaluation (Page 21) Talent Management - November 2008 - Assessment & Evaluation (Page 22) Talent Management - November 2008 - Assessment & Evaluation (Page 23) Talent Management - November 2008 - Compensation & Benefits (Page 24) Talent Management - November 2008 - Compensation & Benefits (Page 25) Talent Management - November 2008 - Compensation & Benefits (Page 26) Talent Management - November 2008 - Compensation & Benefits (Page 27) Talent Management - November 2008 - Compensation & Benefits (Page 28) Talent Management - November 2008 - Compensation & Benefits (Page 29) Talent Management - November 2008 - Performance Management (Page 30) Talent Management - November 2008 - Performance Management (Page 31) Talent Management - November 2008 - Performance Management (Page 32) Talent Management - November 2008 - Performance Management (Page 33) Talent Management - November 2008 - Learning & Development (Page 34) Talent Management - November 2008 - Learning & Development (Page 35) Talent Management - November 2008 - Succession Planning (Page 36) Talent Management - November 2008 - Succession Planning (Page 37) Talent Management - November 2008 - Succession Planning (Page 38) Talent Management - November 2008 - Succession Planning (Page 39) Talent Management - November 2008 - Insight (Page 40) Talent Management - November 2008 - Insight (Page 41) Talent Management - November 2008 - Dashboard (Page 42) Talent Management - November 2008 - Dashboard (Page 43) Talent Management - November 2008 - Dashboard (Page 44) Talent Management - November 2008 - Dashboard (Page 45) Talent Management - November 2008 - Application (Page 46) Talent Management - November 2008 - Application (Page 47) Talent Management - November 2008 - Application (Page 48) Talent Management - November 2008 - Editorial Resources (Page 49) Talent Management - November 2008 - Full Potential (Page 50) Talent Management - November 2008 - Full Potential (Page Cover3) Talent Management - November 2008 - Full Potential (Page Cover4)
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