Planning Your Workforce in Uncertain Times
The past few years have been tumultuous, with hiring frenzies and freezes complicating the landscape of strategic workforce planning. Agile Human Resource and talent acquisition teams are now turning to HR technology solutions to prioritise employee engagement, harness HR data analytics and prepare for future hiring needs.
What are the Biggest Challenges in HR and TA Right Now?
In a fluctuating economy, HR and TA teams face the daunting task of adapting to change. The focus has shifted from hiring to prioritising the existing workforce and aligning HR goals with broader business objectives. This shift requires a strategic approach to putting people first, acknowledging their growth and potential, and addressing employee engagement strategies.
Tighter Budgets and Employee Wellbeing
With tighter budgets, the conversation often turns to non-traditional growth paths. It's crucial to keep employees engaged and consider their wellbeing. Questions about maintaining engagement, especially during tough times, are at the forefront. Utilising data from employee surveys can guide effective engagement and retention policies.
Aligning TA Goals with Business Objectives
In preparation for an economic downturn, it's essential to re-evaluate company goals and ensure that your TA team is in sync. Regular check-ins and alignment with changing company initiatives are key to successful workforce planning during economic downturns.
Overcoming Challenges with HR Tech
- Frequent Engagement Surveys: Regular, focused surveys can provide continuous feedback, aiding in improving workforce efficiency.
- Prioritising Internal Mobility: Encouraging internal career growth can be facilitated by HR tech, focusing on transferable skills rather than just job titles.
- Skillset-Based Hiring: A shift towards hiring based on skillsets can open more internal roles and is a growing trend in talent acquisition challenges.
The Current Landscape of Workforce Planning
Workforce planning varies across organisations. Some focus on headcount planning and building skills gap processes, while others use HR data analytics to forecast talent needs. The key is to pick a focus and stick with it.
Mastering Workforce Planning During Downturns
The unpredictable economy makes strategic workforce planning a challenge. To navigate these times, focus on:
- Prioritising people and their development
- Regular check-ins and alignment with stakeholders
- Leveraging HR tech for engagement and automation
- Using people data to forecast and plan
In summary, the ever-changing economic landscape has made strategic workforce planning a complex yet essential task for HR and talent acquisition teams. Embracing HR technology solutions, focusing on employee engagement, and aligning talent goals with business objectives are pivotal in navigating these challenges. By leveraging HR data analytics, prioritising internal mobility, and adapting to skillset-based hiring, organisations can effectively manage their workforce, ensuring resilience and preparedness for future uncertainties. This approach not only addresses current challenges but also sets a foundation for sustained success and adaptability in the evolving world of work.