6.2.2 Steps in workforce planning

• What is the first step in workforce planning?

  Define organizational goals and objectives
• The first step in workforce planning is to define organizational goals and objectives
• Identifying business goals involves clarifying what the organization aims to achieve, such as increasing market share.
• What does SMART stand for in the context of setting objectives?

  Specific, Measurable, Achievable, Relevant, Time-bound
• Goals should be clearly stated in written format for all stakeholders
• Match the type of organizational goal with its description:

  Financial Goals ↔️ Focus on revenue, profit, and ROI

  Operational Goals ↔️ Improve efficiency and productivity

  Customer Goals ↔️ Enhance satisfaction and loyalty

  Growth Goals ↔️ Expand market share and base
• What are the two types of methods used to forecast demand in workforce planning?

  Quantitative and qualitative
• Quantitative methods use statistical analysis of historical data
• Internal supply in forecasting workforce needs involves analyzing current staff skills and potential promotions.
• What is a gap analysis used for in workforce forecasting?

  Identify shortages or surpluses
• A workforce shortage occurs when demand exceeds supply
• Match the workforce capability assessment method with its description:

  Skills Inventory ↔️ Lists employee skills and qualifications

  Performance Appraisal ↔️ Evaluates performance against expectations

  Succession Planning ↔️ Identifies successors for key roles
• Skills gaps refer to the difference between required skills and available skills within the workforce.
• Which method is used to identify skills gaps by listing employee skills and qualifications?

  Skills Inventory
• A skills gap example is when a company needs employees with data analysis skills but only 20% of staff have it, requiring training or recruitment
• What is the foundational step in workforce planning?

  Defining organizational goals and objectives
• What is a Skills Inventory used for in workforce planning?

  Lists employee skills and qualifications
• A Performance Appraisal evaluates employee performance against expectations
• What is the term for the difference between the skills required by an organisation and the skills possessed by its current workforce?

  Skills gap
• Steps for defining organisational goals and objectives

  1️⃣ Identify Business Goals

  2️⃣ Set SMART Objectives

  3️⃣ Align with Workforce Capabilities

  4️⃣ Document Goals
• SMART objectives must be Specific, Measurable, Achievable, Relevant, and Time-bound.
• What is an example of a financial organisational goal?

  Increase revenue by 15%
• Quantitative methods use statistical data to forecast demand
• Qualitative methods rely on expert judgment to forecast workforce needs.
• What does a shortage in gap analysis indicate?

  Demand exceeds supply
• Internal supply forecasting analyzes staff skills, attrition rates, and promotions
• Match the workforce assessment method with its benefit:

  Skills Inventory ↔️ Identifies skills gaps

  Performance Appraisal ↔️ Identifies strengths and weaknesses

  Succession Planning ↔️ Ensures business continuity
• What do skills gaps represent in workforce planning?

  Difference between skills required and possessed
• A method to identify skills gaps is a skills inventory
• Performance appraisal is a method to identify employee strengths and weaknesses.
• What percentage of staff in a company needs data analysis skills if a skills gap exists?

  Only 20%
• Identifying skills gaps aligns with defining organisational goals and objectives
• What is the primary goal of workforce strategies?

  Align talent with goals
• Steps in developing workforce strategies

  1️⃣ Recruitment

  2️⃣ Training

  3️⃣ Retention
• Recruitment aims to fill skills gaps and increase workforce size.
• Retention focuses on keeping valued employees to reduce turnover
• What is an example of a company using training to address skills gaps?

  Upskilling existing analysts
• Match the workforce strategy with its objective:

  Recruitment ↔️ Fill skills gaps

  Training ↔️ Improve performance

  Retention ↔️ Reduce turnover
• What is the purpose of evaluating and adjusting workforce plans?

  Align staffing with goals
• Key metrics for evaluating workforce plans include workforce size, cost per hire