6.20.1 Understanding Workforce Planning

• What is the primary goal of workforce planning?

  Meet strategic goals
• Workforce planning involves forecasting future labor demands based on business objectives
• Workforce planning focuses on day-to-day operations.

  False
• Steps in workforce planning

  1️⃣ Forecasting future labor demands

  2️⃣ Identifying current and future skills gaps

  3️⃣ Developing strategies for recruitment, training, and retention
• What is one of the key benefits of workforce planning in terms of strategic goals?

  Right skills for objectives
• Forecasting labor demand involves projecting future staffing needs based on business goals and market trends
• What does assessing current staffing entail in workforce planning?

  Evaluating existing workforce skills
• Match the feature with the correct workforce process:

  Long-term strategies ↔️ Workforce Planning

  Day-to-day operations ↔️ Workforce Management
• What is the main purpose of demand forecasting in workforce planning?

  Ensure skilled workers at time
• Quantitative methods in demand forecasting use statistical data
• Supply analysis focuses solely on the skills of current employees.

  False
• Match the component with its description in supply analysis:

  Internal Supply ↔️ Evaluation of current workforce skills

  External Supply ↔️ Analysis of the labor market
• What is the primary goal of gap analysis in workforce planning?

  Identify differences between states
• The first step in gap analysis is to determine the organization's current state
• Match the feature with its corresponding category:

  Long-term strategies ↔️ Workforce Planning

  Day-to-day operations ↔️ Workforce Management
• The goal of workforce planning is to align the workforce with strategic objectives
• Workforce planning ensures the organization has the right people with the right skills to achieve its strategic goals.
• Workforce planning improves efficiency by identifying and filling skills gaps
• How does workforce planning contribute to cost reduction?

  Lower recruitment and training costs
• Workforce planning enhances employee engagement by providing development opportunities.
• Arrange the steps in workforce planning in the correct order:

  1️⃣ Forecasting Labor Demand

  2️⃣ Assessing Current Staffing

  3️⃣ Identifying Skills Gaps

  4️⃣ Developing Action Plans
• What is the purpose of forecasting labor demand in workforce planning?

  Project future staffing needs
• Demand forecasting estimates future employee needs based on business growth, market trends, and seasonal changes
• What are key benefits of demand forecasting?

  Better resource allocation, reduced costs
• Quantitative methods for demand forecasting rely on statistical data and historical trends.
• What is a disadvantage of qualitative methods for demand forecasting?

  Subjective, potential for bias
• Supply analysis focuses on determining workforce resources from both internal and external sources
• Internal supply analysis involves assessing current workforce skills and capabilities.
• What is considered in external supply analysis?

  Labor market trends
• Arrange the steps in gap analysis in the correct order:

  1️⃣ Determine Current State

  2️⃣ Define Desired State

  3️⃣ Compare and Identify Gaps

  4️⃣ Develop Action Plans
• What is an example of a skills gap?

  Lack of software expertise
• A shortage of needed resources is an example of a resource gap
• What is the first step in implementing workforce plans?

  Recruitment
• Training and development enhances employee skills and improves productivity.
• Why are retention strategies important in workforce planning?

  Reduce turnover and preserve knowledge
• A company forecasting a need for more data analysts might implement a training program for current employees