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Week 2 Dqs

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Week2 DQs

DQ1
What is strategic workforce planning and how is it related to strategic business planning? What are some critical inputs for forecasting? What sorts of decisions do organizations make as a result of a workforce analysis?
Strategic business planning outlines the long range perspective of the business, and sets the primary objectives and goals for the company. It directly feeds into operational planning, which defines the organizational strategies and the resources required to accomplish the long range goals. With the help of the operational planning, managers identify which parts of the business they need to hire new talent and plan for budget requirements.

Workforce planning uses the feedback from strategic planning to identify business needs and assess the internal supply’s capability to meet those needs. Based on this information and the operational planning feedback, staffing levels are determined, and net workforce requirements are computed. Using this assessment along with the budgeting figures from various managers, the human resources authorizes staffing requirements, implements necessary internal talent moves (via promotions and transfer), and recruits new staff members. These action plans also include potential revisions to compensation and benefit plans in the company.

In our workplace, we follow a very similar approach in assessing general business growth. However, I am working in a relatively new sub-area in our company, and we are more flexible in our resource planning. We can hire new employees with a quicker notice (instead of one-year). Most of the other branches in the company end up hiring contractors or interns to get their “urgent” processes completed, as they do not need to budget for them one year in advance and they do not count towards the permanent headcount of the company.

DQ2
What are the benefits of…...

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