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WORKFORCE MANAGEMENT, refers to HR practices and initiatives that allow…

- - - - JUDGMENTAL FORECASTS
        
        Apply expert judgment to information from the past & present to predict future conditions & staffing needs to understand opportunities & threats can affect the staffing plan
        
        Gather using research into industry standards & benchmarks
      - STATISTICAL FORECASTS
        Generally fall into Regression analysis and simulations
        
        Regression analysis
        
        Simple line regression: is a projection of future demand based on a past relationship between employment level and a single variable related to employment
        
        Multiple linear regression: operates the same as simple linear regression, except that several variables are used to project future demand
        
        SIMULATION
        
        are representations of real situations in abstract form; they are often referred to as “what if” scenarios
        
        provide organizations with the opportunity to speculate as to what would happen if certain courses of action are pursued
    - - Accurate supply forecasts: into and inside the org (new hires, promotions, and internal transfers) & out of org (resignations, retirements, involuntary terminations, and discharges)
      - consult with line managers and identify how many hours of each type of skilled work are needed to meet current needs
      - TUNROVER ANALYSIS
        
        Turnover: is defined as the act of replacing employees leaving an organization or the attrition or loss of employees
        
        Turn over rate: is a metric that is normally expressed using an annualized formula that tracks the number of separations and the total number of workforce employees per month.
        
        Two common methods for projecting turnover are
        :check: Examining previous turnover rates & adjusting them to reflect knowledge of changing conditions such as pay rates & economy
        :check: Analyzing trends in turnover rates for particular geographic locations or occupational categories
    - - PRIORITIZING GAP
        Involve key stakeholder & management 🡪 Use High-priority gaps to define the plan’s tactical objectives 🡪 creating longer-term workforce planning strategies and for defining (near-future) tactical objectives
        
        Permanence: basis problem or temporary factor
        
        Impact: significant impact compare to other gaps
        
        Control: sufficient resources to address the gap
        
        Evidence: quality of the data 🡪 the gap is a serious problem
        
        Root Cause
      - INDENTIFY GAPS
        
        Retention gap: The best talent is leaving the organization
        
        Deployment gap: Talent cannot be sent where it is needed most.
        
        Distribution gap: Talent is not properly spread throughout the enterprise.
        
        Skill gap: New skills are needed to perform new jobs.
        
        Abilities gap: New behaviors are needed to be successful.
        
        Diversity gap: The organization is too homogeneous.
        
        Time gap: It takes too long to achieve results.
        
        Cost gap: Too much money is being spent on talent acquisition and development activities.
        
        Knowledge-sharing gap: Organizational learning is not occurring
        
        Succession gap: It is not clear where the next generation of leaders will come from.
    - - SOLUTION ANALYSIS
        :check:ensuring that the right people are in the right place at the right time (create a staffing plan that will be in alignment with the organization’s strategic plan and support the future needs of the organization)
        
        BUILDING
        
        Redeploying as well as training & developing the current workforce to meet future needs of Org
        
        Up-skilling employees or enabling to learn new skills to improve performance
        
        BUY
        
        Refers to recruiting & hiring employees
        
        BORROWING
        
        Refers to outsourcing, leasing and contracting with others to get the work done
        
        BRIDGE
        
        Is similar to building but with a focus on providing training in areas adjacent to employee’s current roles to enhance the value they create
        
        Re-skilling to help them prepare to move different position or jobs
      - STAFFING PLAN
        turn workforce analysis data and tactical objectives into reality
        :!: Important point
        
        Consistent with other HR planning initiatives
        
        Collaborative and easily understood by all participants.
        
        Accepted by those responsible for implementing the plan
        
        Involving Key Stakeholders in Developing the Staffing Plan
        
        Organizational management
        
        HR management
        
        Other organizational units
        -Union leadership
        
        Communicating the Staffing Plan
        
        Audience
        
        Objective
        
        Required ìnormation
        
        Mode of communication
        
        Resource
        
        Timing
        
        Responsibility & accountability
        
        Identifying Resources Needed to Create the Staffing Plan
        
        Budget: fee for recruiting firms, advertising & job posting costs
        
        Project schedule meets the Org’s planning needs but also realistic
        
        A staffing plan team of sufficient size with adequate availability
        
        The knowledge required to shape the plan to specific stakeholder circumstances
        
        Equipment, facilities & material ex: videoconferencing for interview or access
        
        Logistical support ex: analysis & IT services
- - - - INHOUSE
        1.Temporary assignments
        2.Temporary Ee (on payroll)
        3.Remote workers
        4.Interns
        5.On-call workers
        6.Part-time employees
        7.Job sharing
        8.Seasonal workers
        9.Phased retirement
      - OUTSOURCED
        
        Finite temporary help (employed by help firm)
        
        Temp-to-hire program
        
        Contract workers
  - - - Step 1: Due diligence: investigating a decision thoroughly before finalizing to identify all potential factors that could (+) & (-) affect the decision.
        TOPICS: Management, Management style, Culture, General employee information, Work environment, Community labor environment, Current HR function, HR policies and procedures, Effect of future business strategy, Hidden costs of acquisition
      - Step 2: Planning: decide how to manage the differences
      - Step 3: Implement: communicate & revise processes, support
        
        Communicating honestly and quickly
        
        Making required changes quickly
        
        Supporting efforts to blend or revise work processes
      - After the M&A: monitors for signs of problems and responds appropriately
  - - - Usage
        
        Represent an essential component of strategic business planning.
        
        Allow the organization to maximize and more effectively target employee and career development efforts
        
        Can be a useful tool for identifying and cataloging the developmental experiences of employees who are candidates for future international assignments
        
        Represent a valuable resource during crisis management.
      - Talent pools can be created and developed to fill the gaps between the talent that the organization will need and the talent that is likely to be available.
  - - - 7 COMPONENTS of Successful Succession Plans
        
        Visible support from senior leadership and all members of top management
        
        Clearly defined leadership criteria
        
        Defined plan to find, retain, and motivate future leaders and high-potential employees
        
        Simple, easy-to-follow, measurable process
        
        Use of succession planning to reinforce organizational culture
        
        Process that focuses heavily but not exclusively on leadership development
        
        Process that is a real organizational priority
      - STEP 1: SELECT CANDIDATE
        individuals with development potential are chosen
      - STEP 2: DEVELOP TRAINING & DEVELOPMENT PLAN
        
        preparing candidates to step in and take charge of the targeted positions
        
        Technique: in-house training, mentoring, cross-training, coursework from outside sources, or special projects specifically designed for the employee
        
        9 BOX GRID:
      - Common mistake:
        
        Basing future staffing needs on only past or current experiences
        
        Developing succession plans in isolation.
        
        Making it a once-a-year event instead of an ongoing management activity.
- - - - Step 1: Inventory knowledge assets.
        
        involves cataloging the organization’s collection of tangible assets(white papers, proposals, presentations, business and marketing plans, and growth and expansion plans)
        
        Information system (connections and lists of employees with specific skills, experiences, and assignment responsibilities)
      - Step 2: Create a knowledge repository and directory
        
        is available over its intranet or through a dedicated application
        
        human capital management system: ability to forecast information for new projects and assign team members based on skill and experience matches
      - Step 3: Encourage system use
        
        implementing communication, training, and other processes designed to ensure cultural applicability and overall acceptance of the system
      - Step 4: Update the system
        
        keeping the database up-to-date often represents a challenge for the organization
        
        continuous updates are essential to ensure the integrity and credibility of the system
    - - Creating an environment and structure that encourage the capture of best practices and facilitate sharing and cross-fertilization
        
        Recognizing that information must travel within and be retained in the organization
        
        Appreciating the role and importance of personal networks in knowledge and information transfer
        
        Establishing a knowledge-friendly, data-sharing culture (Individuals across cultures and across hierarchical levels must feel encouraged to share their knowledge and ideas.)
      - Seeing where knowledge exists and where it is liable to be lost or underutilized
      - Helping people develop information management and data access skills
      - Addressing the “What’s in it for me?” question (Those who “borrow” knowledge from the system should also “deposit” knowledge. In other words, employees should be both givers and takers of knowledge. Seeing the process as reciprocal and mutually rewarding encourages its use and vitality.)
      - Developing criteria to define and measure successful KM projects
      - Identifying and addressing multicultural challenges, such as multiple languages within the organization and different preferences for screen design