2011 Workforce Planning Fact Sheet
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Transcript of 2011 Workforce Planning Fact Sheet
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8/3/2019 2011 Workforce Planning Fact Sheet
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Workforce Planning
Translating the Business Plan Into the People Plan
The Business Challenge
Faced with the prospect o widening talent gaps, driven
by changing employee demographics across the globe,
eading organizations are addressing the ollowing
critical questions about their uture workorce needs:
Where are the risk areas within the organization or
retirement, turnover and undesired talent loss?
What are my current stang and cost constraints,
and how can I best deploy sta to meet demand?
How will changes in business strategy and customer
demand aect my stang and talent requirements?
How would our talent gaps be aected i we made
investments in retaining critical workorce segments?
Where are the alternative sources or external talent
supply to decrease the gap?
What happens to the gap and workorce costs i we
change the skill mix to deliver on our strategy?
What strategies do I need to employ to address my
workorce issues?
Translating Workorce Data IntoActionable Insights and Solutions
Towers Watsons Workorce Analytics and Planning
practice can help your organization deal with these
business issues. We use business and talent analytics
to help organizations anticipate uture needs and
make smart workorce investments that deploy the
right skilled head count at the right time and cost.
We combine a deep expertise in talent management
and actuarial methodologies with our workorce analytics
and planning process and tools to help you translate
your business plans into robust projections o uture
workorce requirements. The process involves the
ollowing to create pivotal insights about your workorce:
Quantiying anticipated losses o talent in key skilled
job groups or locations
Analyzing your workorce to understand the
demographics, behavior patterns (e.g., turnover,
movement and hiring) and linkage to business
volumes and/or outcomes
Linking business metrics to workorce metrics toalign workorce analytics and planning with the
business strategy and outcomes
Identiying current and uture workorce costs, gaps
and issues using scenario modeling
Identiying best locations or talent and aligning
your organizations plans or growth or consolidation
in alternative labor markets
Using these insights to make inormed decisions or
workorce solutions and talent management
What does a typical workforce planning project look and feel like?
1. Review Business Plan
and Workforce Data
2. Analyze and Model
to Identify Gaps
3. Develop Strategy and Road Map 4. Execute and Measure
Set objectives or the process.
Review business plan and related
head count, skills and cost
requirements.
Conduct leadership interviews.
Analyze historical data to develop
workorce experience assumptions
or projections.
Analyze and benchmark current
workorce composition and cost.
Conduct workorce supply and
demand projections.
Review external labor market
and trends.
Model alternative scenarios.
Evaluate alternative workorce
strategies.
Identiy and prioritize key
workorce gaps.
Assess solution channels and
relevant HR interventions via
programs and processes.
Conduct an action workshop to
create an HR strategy.
Identiy solutions and develop
detailed implementation road map.
Implement changes (e.g., new
sourcing strategies, internal mobilit
policies, stang planning approach
training and cost-saving approaches
Train end users on the process and
online toolkit.
Develop ongoing metrics and
scorecards.
Embed ongoing tools and capability
into business planning process.
Month 1 Months 1 and 2 Months 2 and 3 Months 3 and 4
Timing can vary based on client needs and depth of business content.
65% the percentage o companies that are more concerned about the
retention o critical-skill and top-perorming employees now than they
were beore the economic crisis hit. And this percentage is growing,
according to a recent Towers Watson fash survey.
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Copyright 2011 Towers Watson. All rights reser ved.
TW-NA-2010-18083
towerswatson.com
Towers Watson Workorce MAPSTechnology Enables Eective WorkorceAnalytics and Planning
Workorce MAPS is robust sotware that can serve
as the oundation or your organizations workorce
planning activities and provide insightul and powerul
analyses across a broad range o key workorce
dimensions.
The main components:
The Dashboard provides key metrics or recruiting,
retention and key talent at a glance.
Workforce Scan provides detailed analytics o your
current workorce and historical workorce trends.
Workforce Projection provides projections o your
workorce, given the status quo.
Scenario Modeling allows your client team to create
and compare what i scenarios.
External Labor Scan provides analysis o the impact
o the external labor market on your workorce.
How It Works
Towers Watsons Workorce MAPS is a hosted Internet
sotware product. Users will have access to easy
workorce reporting and benchmarks, drill-down
capabilities to multiple levels o the enterprise and
developing workorce scenarios. The technology is
highly congurable and accommodates varying levels
o workorce planning sophistication.
Workorce Analytics and Planning helps yourorganization anticipate and deliver the talent
component o your strategic business plans. Being
engaged in a proactive and evolutionary workorce
planning process allows your organization to begin
creating the workorce o the uture today.
For more inormation about Towers Watsons
workorce planning solutions, please visit
towerswatson.com/hrt.
About Towers Watson
Towers Watson is a leading global proessional
services company that helps organizations improve
perormance through eective people, risk andnancial management. With 14,000 associates
around the world, we oer solutions in the areas o
employee benets, talent management, rewards, and
risk and capital management.
Workforce Analytics and Planning: Towers Watson Differentiators
Evidence-Based
Approach
We leverage both quantitative and qualitative methods to align talen
strategies and identiy solutions to drive better business perormanc
We have extensive global workorce data and proprietary research
linking employee behaviors and demographics to customer,
operational and business results.
We bring the same clarity, discipline, objectivity and tools to manag
talent as most companies do to other critical business assets, lik
capital and customers.
Process
Sustainability
We help our clients create the organization readiness, buy-in an
alignment needed to launch and sustain workorce analytics an
processes.
Human Capital
Expertise
Our dedicated consultants have deep expertise in all areas
related to talent management, rewards and benets. We have worked with leading companies across industries.
Global Knowledge
and Resources
We have worked with leading organizations across regions and
industries, and thus bring consistent methodologies that are
codied and applicable on a global basis.
Knowledge Transfer
and Flexibility
We are fexible in the way we support organizations and ocus
on transerring knowledge and skills to our clients.
Workforce MAPS Technology
Dashboards Analytics
Projections External Market