Workforce Management Flashcards
(26 cards)
Workforce planning
is the first step in the workforce management process. It involves all the activities needed to ensure that workforce size and competencies meet current and future organizational and individual needs. Workforce planning strategically aligns an organization’s human capital with its business direction. This requires that the HR professional look at where the organization is now as well as where it wants to be in the future. During workforce planning, the current state of the workforce is defined, gaps in size and competency are identified, and steps required to prepare for future needs are developed.
workforce analysis
gathers data about the current workforce and forecasts future workforce needs. This information is analyzed to provide the data to support the organization’s staffing strategy. Forecasting involves projecting future conditions based on information about the past and the present. It is used to estimate future workforce supply and demand. Forecasts are subject to error, as the conditions on which they are based may change. But with careful planning, HR professionals can generally forecast with enough accuracy to help sustain organizational objectives and strategies. Sound forecasting requires environmental scanning—for example, the age of the current workforce or the availability of certain skills in the market.
workforce profile
is an important part of a workforce analysis. It identifies the current make-up of the employees in terms of their demographics, skills, competencies, and performance levels. The profile also includes information such as employees’ expected retirement dates, their pay grades, and other factors that help explain the workforce’s composition. The profile allows HR departments to better identify their hiring needs and plan for the future. As you can see in Exhibit 3-17, the workforce profile provides much of the information needed to complete the supply analysis.
Turnover
is defined as the act of replacing employees leaving an organization or the attrition or loss of employees.
turnover 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.
Judgmental forecasts
apply expert judgment to information from the past and present to predict future conditions and staffing needs and to understand opportunities and threats that can affect the staffing plan.
Regression analysis
- Simple linear regression
- Multiple linear regression
Simple linear regression
is a projection of future demand based on a past relationship between employment level and a single variable related to employment. For example, a statistical relationship between gross sales and the number of employees might be useful in forecasting the number of employees needed in the future if sales increase by 25%.
Multiple linear regression
operates the same as simple linear regression, except that several variables are used to project future demand. For example, hours of operation might be added to gross sales to determine the number of employees needed.
Simulations
are representations of real situations in abstract form; they are often referred to as “what if” scenarios. They provide organizations with the opportunity to speculate as to what would happen if certain courses of action are pursued. For example, an organization might consider the ramifications of changing a compensation system or doing business online.
Solution Analysis
During solution analysis, an organization decides whether to “build,” “buy,” “borrow,” or “bridge” the talent needed to attain the staffing levels and competencies required to meet the tactical objectives
SMARTER
specific, measurable, achievable, relevant, time-based, evaluated, and revised
co-employment, or joint employment,
generally describes a situation in which an organization shares responsibility and liability for its alternative workers with the alternative staffing supplier. A co-employment agreement summarizes the legal relationship, rights, and obligations for some flexible staffing arrangements. Potential liability can vary dramatically depending upon the nature of the staffing agreement. In traditional temporary staffing models, the staffing firm and the client organization are most likely viewed as co-employers or joint employers under most employment law regulations. The less control one organization has over the terms and conditions of employment, the more difficult it becomes to prove that a co-employment relationship exists.
independent contractors
(also known as consultants or freelancers) rather than employees to gain greater workplace flexibility or manage uncertainty associated with entering a new market. A related concept is the “economically dependent worker,” defined as a worker who is formally self-employed but who derives most of his or her income from one employer.
Restructuring
is the act of reorganizing legal, ownership, operational, or other organizational structures. It is a proactive adjustment to meet changing business needs.
Restructuring intersects with workforce management when an organization makes changes in the size, number, or relationship of departments. After restructuring, certain groups will report to different departments; some new departments may be created while others are disbanded.
Reduction in force (RIF), or downsizing
refers to the termination of employment of individual employees or groups of employees for reasons other than performance—for example, economic necessity or restructuring. This may take the form of permanent or temporary layoffs in certain divisions or locations or across the entire organization.
Talent management
refers to the development and integration of HR processes that retain the knowledge, skills, and abilities of employees that will meet current and future organizational needs. The purpose of talent management is to increase workplace productivity by supporting the recruitment, development, engagement, and retention of high-value employees.
Succession planning
is an important talent management strategy to help identify and foster the development of high-potential employees. Succession plans focus on positions that are the most critical to the future needs of the organization. The goal is to “keep talent in the pipeline” and have people in place for future roles in the organization.
Career management
Succession plans help to ensure that individuals in specific talent pools obtain the insights, awareness, and field experience necessary to make ongoing contributions to the organization.
Training and learning
Structured training experiences provide the knowledge and skills necessary for success in various positions on the career advancement ladder.
Performance management.
Succession planning must also be carefully aligned with the organization’s performance management process to ensure that future managers and functional experts receive the ongoing developmental feedback, critical evaluation, and mentoring required to maintain their professional development.
Replacement planning
concentrates on immediate needs and a “snapshot” assessment of the availability of qualified backup for individuals in key positions. Replacement planning is an important element in business continuity planning in the event of an emergency or business interruption.
Bridging
is similar to building but focuses on providing training in areas adjacent to employees’ current roles to enhance the value they can create.
Redeployment
is a solution to meet the organizational future needs.
