HRM357 Workforce Planning Assignment SUSS Sample Singapore

The workforce plan is an integral part of organizational performance and success. It provides management with a way to align the company’s employees with its business strategies, address current as well future staffing requirements while also creating direction for allocating resources within your organization . While this task falls primarily under “management,” several different groups have input into these plans including human resources department members who can help create better practices by analyzing data from previous years about what works best when it comes to attracting talent or retaining them depending on if you want high turnover rates versus low ones.

One of the challenges HR faces is understanding how to attract millennials  for any company. One of the most interesting things about this generation according to data compiled by the Pew Research Center  is that they are on track  to become one of the largest generations in labor force history, surpassing baby boomers .

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Assignment Brief 1: Illustrate the frameworks and theories in workforce planning.

Workforce planning includes frameworks and models for analyzing and predicting future labor market dynamics to ensure that the enterprise is well-prepared.

The goal of workforce capacity management is to determine organizational staffing requirements in current and future time horizons, while constraining labor costs, by increasing demand for enterprise offerings regardless of economic cycles. Continuously developing such capabilities such as education and training plans, competency models, scenario analyses around potential disruptions in supply chain logistics or technologies can equip an enterprise to take advantage of opportunities that may emerge unexpectedly due to new government policies, technology advances etc. 

Differential workforce development strategies are then needed depending on whether an organization’s growth strategy is primarily based on internal human capital development or recruitment from outside sources.

The goal of upskilling the current workforce is to equip them with new skills and capabilities that will increase their productivity by leveraging new technology, digital environments etc. The goal of reskilling the current workforce is to help those who have lost their jobs due to technological or market changes by retraining and re-preparing them for potential opportunities in the new economy.

Assignment Brief 2: Recommend workforce planning strategies to support organisation strategy.

Strategically planning your workforce can be challenging. Workforce planning strategies can include downsizing, upskilling or retraining individuals, outsourcing or reshoring work to low cost centres around the world. The strategy you choose will depend on how urgent it is to implement them and what kind of financial resources are available. For example, if we were experiencing rapid growth and we needed an immediate influx of people because our teamwork was getting too big for our supplies, we would consider outsourcing work because it might be cheaper than hiring locally and buying more machines upfront. If we were struggling with a cyclical downturn in demand for our services and wanted to avoid having to let people go until the next upturn in demand that could take years then it would make more sense to retrain or upskill our current staff.

No matter what your business’ situation, it’s important to have a plan in place so that when the time comes, you can take quick and decisive action. Having a workforce planning strategy gives you the ability to be flexible and nimble when the market changes, which is increasingly important in today’s economy.

So what are the key steps to creating a successful workforce planning strategy? Here are three tips to get you started:

1. Understand your business’ needs: The first step is to understand your business’ needs. What areas need more people and what can be done with less? Do you have a lack of people in one area that’s causing a bottleneck in your workflow, or is it more about having too much staff sitting idle?
2. Identify what to change: Once you understand your business’ needs, you will need to identify the areas where you need to make changes and determine the best way to do that. For example, if it’s a lack of people in your business then you will need to hire more people. Or maybe the issue is with your systems and processes? If so, you may want to look at outsourcing some services or hiring an HRIS specialist for help.
3. Create a plan: The final step is to put your plan into action. This will involve setting timelines, budgets and assigning responsibilities. Make sure you also track your progress so that you can make changes as needed.

These steps are important when it comes to performing a good workforce planning study.

Assignment Brief 3: Judge the impact of the economic, labor and political environment on workforce planning.

Political and economic factors play a HUGE role in workforce planning. For example, if there is a major recession, businesses will lay off workers to cut costs. Because of this, it’s smart for companies to train current employees at the expense of new hires as part of an effective workforce plan. And then once the economy rebounds, those skills that were taught by existing talent can then be translated into profit as we bring on new hires who we already know have successfull training behind them–all because we take care of our people and consider their needs for career growth and diversification through pre-workforce planning. The success or failure of your company can hinge on how well you plan ahead for these changes (predictions), and how many redundancies (backups) you have in place.

The article does a great job of highlighting some key points when it comes to workforce planning:

1) Having a plan is critical, no matter the industry or company size.

2) There are many factors to consider when creating a plan, including political and economic changes that can impact the workforce.

3) It’s important to train employees and have redundancies in place to ensure business continuity during difficult times.

4) Having a plan helps companies stay ahead of the competition and can result in increased profits.

Workforce planning is a critical aspect of any business, and the article does a great job of highlighting some key points to consider on this topic.

Assignment Brief 4: Examine strategic job analysis as a prelude to forecasting and planning for staffing requirements, applying basic statistical tools.

A job is in some sense like an equation that is composed of requirements, competences, and responsibilities. The object of the equation is to find employees who will meet the requirements (knowledge, skills, abilities) at minimal cost.

The process begins with defining the job in terms of the key requirement(s) for success; this definition should be objective and measurable. Next define all requisite qualifications or characteristics one would need to do well on the job; define what’s needed from partner jobs as well as tasks that can’t be completed by anyone else but your staff. Next identify who you would hire if you had unlimited funds and could offer a perfect position–with pay & benefits equal to any competitive employer–in order to have the best of the best on staff.

Now start taking away money/benefits, responsibilities or risk until you reach your budget limit–at that point you should be able to identify the essential job elements; what’s left is a description of at least one person who will do this job well.

This process can be time consuming but it’s an excellent way to identify key requirements and also who you’ll hire.

The main requirements for a good job are:

1. The employee should be able to do the work without supervision or oversight. In other words there should be no need for managing the person because they can manage themselves if given clear goals & standards, and autonomy in how they reach their goals.
2. The job should be able to be done by someone with the right skills, knowledge, and abilities.
3. There should be little or no training needed before the person can start doing the job.
4. The employee should be motivated to do the work and take pride in their workmanship.

Assignment Brief 5: Apply basic statistical tools in measuring the effectiveness of recruitment and selection processes.

Some statistical skills are essential for best recruitment and selection processes. If you’re hiring, for example, you should know how to (a) set up an interview schedule that takes into account your available time; (b) design a structured interviewer training program; (c) plan personnel records so they match your needs in terms of access, relevance, accuracy in storage and availability in retrieval; and (d) provide the same careful screening in all phases of selection.

With so much riding on getting them right-the future productivity, job satisfaction or turnover rate of your workforce-you owe it to yourself to be armed with dependable statistics when making crucial decisions about who’s right for the job.

Nowhere is this more true than in the selection of sales staff. Sales positions are among the most important in any company, and the wrong hire can mean a serious drain on resources. So how do you go about making sure you make the right decision? By using statistics to help you assess candidates’ potential for success.

Assignment Brief 6: Illustrate an organisation’s management of its workforce flow into, through and out of the organisation.

The process of managing an organisation’s workforce flow can be complex and depend on a variety of factors. 

Firstly, there are two main stages in the process of managing workforce flow: “encouraging people to join” and “supporting people who leave”. It is important for managers to ensure that turnover is monitored, especially when considering things like absenteeism, presenteeism or stress. There are also challenges with recruitment such as inadequate skills matching the requirements of the position, lack of rewarding job offers or unsatisfactory lifestyle balance due to work demands. 

To resolve some issues (especially after reorganisations), some companies offer incentive schemes like salary premiums or flexible working arrangements which may provide relief for dissatisfied employees while continuing to work for the company.

When an employee leaves their job, the manager’s role is to ensure that the transition process is smooth and that all relevant information is provided to the departing employee. This includes things like notice period, exit interviews and handover procedures. Employees who leave on bad terms can often create a negative image of the organisation and damage relationships with customers, clients and suppliers.

To prevent this, it is important for managers to consider their own role in encouraging employees to work with them closely for a period after they leave the company. This is often achieved through re-engagement programmes or by facilitating networking opportunities which can help to maintain positive relationships between employees and managers. This approach can also help to maintain a positive image of the organisation.

So, in conclusion, workforce flow is an important process that should be monitored and managed carefully. By encouraging employees to join and supporting them through the departure process, organisations can minimise the negative effects that turnover can have.

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