Course Objectives
Workforce Planning and Budgeting - Virtual Learning
Course Objectives
By the end of the course, participants will be able to:
Define workforce planning within the context of human resources management
Explain how HR planning is related to the overall strategic plan of the organization
Identify the economic concepts of demand and supply and how they apply to the labor market
Apply forecasting tools to the demand and supply of different types of human resources, both in terms of quantity and quality
Recognize the relationship of HR planning to the staffing process
Describe why an understanding of the external labor market is important in workforce planning
Formulate staffing strategies to fill labor gaps whether shortages or surpluses
Apply budgeting techniques for workforce planning
Target Audience
Recruitment and workforce planning managers and specialists, HR professionals and strategy analysts with at least three years experience in workforce planning, general HR management and business partners. This course is also useful to corporate planning managers who want to make sure their strategies are implemented successfully.
Target Competencies
The course targets the following related competencies:
Relating and networking
Persuading and influencing
Presenting and communicating
Analytical thinking
Applying expertise and technology
Formulating concepts and strategies
Planning and organizing
Achieving goals and objectives
Course Outline
Overview of organizational developmentThe glue that makes an organizationOrganizational objectivesKey terms in organizationDepartmentalizationMechanistic versus organic organizationStrategy and organizational structureChoosing the right organizationThe economics of the organization
Fundamentals of workforce planningWorkforce planning to get, keep and growDefining workforce planningStrategic planning and workforce planningIt is all a question of demand and supplyWorkforce planning and forecasting employee needsAims and phases of workforce planningDrivers of workforce planningBenefits of workforce planningKeys to successful workforce planningWorkforce planning Key Performance Indicators (KPIs)
An operational model for workforce planningWorkforce planning analysisThe strategic staffing processCauses of supply and demand gapsStatic versus dynamic workforce planningDemand analysis and forecasting staffing needsTrend analysisRatio analysisScatter plotZero manning methodologyThe supply analysis phaseThe gap analysis phase
Workforce formulation: application of the basic modelDefining required staffing gaps or surplusesDefining required staffing actionsProducing the staffing plan
Beyond staffing plansUsing workforce planning to support management successions and development planningProactive talent managementMeasuring staffing effectiveness and efficiency
Budgeting: process and approachImportance of budgetingTypes of budgetsMaster budget componentsApproaches to budgetingCharacteristics of effective operating budgetingTools of budget estimationHR budgetingCost controlControl systemsThe control processVariance analysis